This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Boeing Plans South Carolina Expansion Activities

Stocks in this article: BA

NORTH CHARLESTON, S.C., Dec. 13, 2013 /PRNewswire/ -- Boeing (NYSE: BA) announced today that it will begin construction in the second half of 2014 on a new paint facility on its main campus in North Charleston, S.C. The company expects to begin painting fully assembled 787 Dreamliners in South Carolina in mid-2016.

The approximately 230,000 square-foot (21,368 m 2) facility will be used to apply customer liveries to Boeing South Carolina (BSC)-built 787s. Today all BSC-built 787s are flown to Fort Worth, Texas, for final paint and then flown back to South Carolina for customer delivery.

"Painting our airplanes in South Carolina supports our Lean manufacturing and production optimization initiatives," said Jack Jones, vice president and general manager, Boeing South Carolina. "We can make our delivery process even more efficient by painting airplanes here in South Carolina, creating more value and convenience for our customers."

The company also announced today that it acquired access to a total of 468 acres (189 hectares) in North Charleston, S.C., to protect for potential future growth in South Carolina through a long-term lease with Palmetto Railways, a division of the S.C. Department of Commerce. In addition to the 267 acres (108 hectares) sold by the Charleston County Aviation Authority, another 201 acres (81 hectares) of land in North Charleston were purchased with state bond funds allocated to Boeing. Owned by Palmetto Railways, the land will be leased to Boeing under a long- term lease. The company has an option to purchase all of the 468 acres (189 hectares) at the end of the initial lease term at the end of 2027.

"This expansion makes future growth in North Charleston possible. While we expect to begin the permitting process immediately for this property, we have no specific plans for the land other than where we will locate the new paint facility," said Jones.    

As part of the site expansion, beginning in January 2014, Boeing will construct a new 10,000 square-foot (929.03 m 2) fully equipped fire station at its main campus, which is expected to be operational by late 2014. The company will add a second autoclave in 2016 to support aftbody composite fabrication for previously announced 787 program rate increases.

"We've been busy here in South Carolina this year," said Jones. "Our BSC teammates have not only been ramping to rate in component and airplane production, but they're doing it in the middle of construction zones. Our commitment to South Carolina is visibly demonstrated every day as our growth and expansion continues. I don't expect that ending anytime soon." 

Since late 2012, Boeing has been expanding its main South Carolina site to create more efficiencies and capabilities in production to meet committed 787 build rates. Under previously announced expansion plans, the company is adding 391,000 square feet (36,325 m 2) to its aftbody fabrication and assembly building; 42,000 square feet (3,901.9 m 2) to its aft and midbody component paint facility; 67,000 square feet (6,224.5 m 2) in office and meeting space to its final assembly building; and a new 94,000 square-foot (8,732.9 m 2) Dreamlifter Operations Center, to be completed in the first quarter of 2014. The midbody component assembly facility is undergoing construction to add additional capacity and efficiency on the production floor.

In 2013, Boeing announced plans to establish IT Centers of Excellence and an Engineering Design Center, along with plans to build a new Propulsion facility in South Carolina. In November, Boeing broke ground on the new 220,000 square-foot (2,0439 m 2) facility located in Palmetto Commerce Park in North Charleston ( Ladson area) that will house its new 737-MAX propulsion assembly work, scheduled to begin in mid-2015.

www.boeing.com

Contact: Candy EslingerBoeing Communications843-819-1488 candy.l.eslinger@boeing.com        

SOURCE Boeing

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs