Boeing Invests $1 Billion to Boost 787 Production in South Carolina, Adding 500 Jobs

GuruFocus.com
13 Dec 2024

Boeing wants to double the 787 Dreamliner manufacturing rate to 10 a month by 2026 and is committing to invest $1 billion to expand North Charleston, South Carolina, its plant where it will assemble the ultra-efficient airplanes. You can expect Boeing's new expansion to head into full operation as early as early 2027. With the addition of another 500 new jobs over the next five years, the company will continue to forge stronger ties to the community economy. Even as Boeing continues to lose money, with a $8 billion loss through the first nine months of 2015, it continues to invest in the long-term growth strategy.

  • Warning! GuruFocus has detected 4 Warning Signs with BA.

The South Carolina facility, which first opened in 2009, has been key to reviewing, fabricating, assembling, and delivering the Dreamliner. Governor Henry McMaster and other local officials are strong supporters of Boeing's expansion, saying it's a testament to the state's pro-business environment.

The company remains committed and says that it appreciates that their investment is also allowing them to support their workforce and the regional aerospace sector. This move by Boeing, with over 7,800 employees in South Carolina, typography their resiliency in the face of adversity and belief in the future of the 787 program.

This article first appeared on GuruFocus.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10