Boeing buying Vought S.C. plant

Boeing has agreed to acquire for some $580 million the business and operations of Vought Aircraft Industries at its South Carolina facility. The Vought facility in North Charleston does fabrication and assembly of structures and systems installation of 787 aft fuselage sections, made primarily of composite materials. Boeing will acquire the assets and inventory and assume operation of the site. This transaction is anticipated to close in the third quarter. Once acquired, the North Charleston facility will be managed by the 787 program. Vought will continue its work on many Boeing programs, including other components of the 787, as well as structures and components on the 737, 747, 767, 777, C-17 and V-22 through operations located elsewhere. (Source: PRNewswire, 07/07/09)