Boeing to acquire airplane parts supplier Summit Aeronautics Group

[News_Editor]

Boeing to acquire airplane parts supplier Summit Aeronautics Group

2010-11-22 23:56:15 GMT+7 (ICT)

SEATTLE, WASHINGTON (BNO NEWS) -- Boeing on Monday announced that it has agreed to acquire the business and operations conducted by airplane parts supplier Summit Aeronautics Group.

Summit Aeronautics Group, which is based in Helena, Montana, employs 135 people to manufacture titanium and other hard metal structures for commercial and military aircraft.

This acquisition extends a strong partnership between Boeing and Summit, which currently performs hard metal machining on 747-8 fail-safe bars that allow the flaps to move on the wings; 787 edge frames that fit around the doors; and 767 main-landing-gear beams, which facilitate the landing gear rotation.

After the transaction, Summit will continue its work on these Boeing programs and manufacture other machined parts for the 787, and it will also continue to support existing military programs.

Through the agreement, Boeing will acquire, among other things, the building, assets and inventory as well as assume operation of the site.

Boeing anticipates this transaction will close in the fourth quarter following satisfaction of customary closing conditions.

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