Boeing acquires piece of troubled SC company

Boeing today (March 28) acquired the Vought share of Global Aeronautica, giving the 787 manufacturer a 50% stake in the company.

The plant in Charleston (SC) has been one of the key trouble spots in the 787 program. Flightblogger’s Jon Ostrower reported the probable move way back in December.

This is a good move for Boeing in straightening out the program. Although it’s unclear today just how much of the 787 production problems continue to originate at Charleston, the 787 production system still is under major stress. The world waits for Boeing’s program update–the internal assessment continues–and the date for the program update, thought by some to be next week, by some the following week, remains unscheduled and unconfirmed.

Is the buyout related to the recent news about redesign of the center wing box? The answer, in our opinion, is “no.” Charleston isn’t responsible for the wing box; the Japanese are. Furthermore, we’re told from inside Boeing that the wing box issue was old news (at least one Wall Street analyst says the same thing) and that the redesign occurred quite some time ago for the first six airplanes (or seven, depending on who’s talking).

What made it news is that Boeing didn’t tell anyone and with its in-the-bunker mentality since things went south on the production schedule (a phrase used both inside and outside of Boeing), not being forthcoming, the statement by ILFC CEO Steven Udvar-Hazy that Boeing had to redesign the wing box became news for a news-hungry media.

Even within Boeing, there is complaint that Boeing isn’t forthcoming and therefore winds up de facto letting others reveal problems.

But we digress. Today’s news is tangible evidence that Boeing is taking back control of its own destiny. It’s a major step, it’s not the first and it won’t be the last. But for all interested parties, it’s certainly the right step.

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