Jennifer Buchanan / Pool / AFP / Getty Images
The Key Takeaways
- Boeing has announced that they will be investing $1 billion into expanding their operations in South Carolina where Boeing produces its 787 Dreamliner.
- By 2026 the company plans to produce 10 planes per month, and to expand the South Carolina facility by the beginning of 2027.
- Boeing faced several production problems this year. This included a strike that lasted nearly two months at the Washington facility.
Boeing (BA), which is a subsidiary of Boeing, will invest $1 billion to expand its South Carolina facilities and ramp up the production of 787 Dreamliner.
Late Thursday, the aircraft manufacturer announced that the company expects to manufacture 10 Dreamliner airplanes per month before 2026. The upgrades of the South Carolina facility are expected to be finished by early 2027. According to the company, the project is expected to create 500 jobs in the next five-year period.
Boeing’s production has suffered this year. From the production slowdown that was forced after a number of safety incidents at the beginning of the year to the strike in Washington, which lasted for nearly two months, ending only in November.
During the strike, thousands of employees were laid off. Boeing reportedly resumed the production of its 737 Max planes only a few weeks after the end of the strike. The company currently has an order backlog exceeding 4,000 aircraft, reports Reuters.
Boeing’s shares barely changed on Friday morning. These shares have fallen by about 35% in the past year.
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