Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Boeing Company (The)    BA

BOEING COMPANY (THE)

(BA)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

BOEING CO : Boeing halts rotorcraft output after debris found

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/21/2008 | 06:50pm EDT

WASHINGTON (Reuters) - Boeing Co shut down production at a military helicopter plant outside Philadelphia on Friday after a third incident involving foreign objects prompted the Pentagon to issue a corrective action against the company.

By Andrea Shalal-Esa

Boeing spokesman John Williamson said the company received the notice from the Pentagon's Defense Contracts Management Agency (DCMA) on Friday, which means the government will not accept any aircraft manufactured at the plant until certain requirements are met.

Boeing produces its CH-47 Chinook helicopters and MH-47G Special Operations Chinook the at the plant, as well as the fuselages for the V-22 tilt-rotor aircraft that it builds with Textron Inc's <TXT.N> Bell Helicopter unit.

"It's a serious matter and we are taking it very seriously," Williamson said, in response to a query about the government's action.

He said Boeing had halted production at the plant until the company was able to determine how the foreign object debris had gotten into the V-22 fuselage. He said the latest incident was discovered by Boeing during a quality inspection this week.

Williamson gave no details on what object had been found, but such cases often involve tools, stray pieces of wire or protective coatings that wind up where they should not be.

"The Level IV CAR (corrective action request) means that the government will not accept aircraft from this facility until we have satisfied their requirements," he said.

Williamson said Boeing workers at the plant were expected to report to work, despite the production halt. He said Boeing was working with the Pentagon to correct the problem, but it was unclear when the production line would be reopened.

He said an investigation was underway to determine if the latest incident involved any deliberate sabotage.

One individual was arrested and convicted of deliberately placing foreign objects in an H-47 helicopter in May, Williamson said.

Defense analyst Loren Thompson said the incident was troubling and raised questions about deliberate sabotage.

"There clearly is a pattern of foreign objects and material intruding into Boeing's rotorcraft process," said Thompson, chief operating officer of the Virginia-based Lexington Institute.

"I was actually in that plant a few months ago and, like other defense plants, it is extremely neat and clean, so these sorts of things don't usually happen by accident. You have to consider the possibility that someone is doing this deliberately."

(Editing by Andre Grenon)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BOEING COMPANY (THE)
07/17BOEING : to make $50 million in payments to 737 MAX crash victims' families
RE
07/17NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/17NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/17NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/17BOEING : Ryanair's British pilot union to vote on possible August strike
RE
07/17NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/17BOEING : United says may not receive full delivery of 737 MAX by next year
RE
07/17BOEING : Hires Kenneth Feinberg to Handle Payments to Crash Victims' Families
DJ
07/17BOEING : GKN Fokker Services and Spectralux sign an exclusive distributor agreem..
AQ
07/17BOEING : Dedicates $50 Million of Pledged $100 Million to Near-term Relief for F..
PR
More news
Financials (USD)
Sales 2019 96 617 M
EBIT 2019 10 807 M
Net income 2019 9 057 M
Debt 2019 10 373 M
Yield 2019 2,15%
P/E ratio 2019 23,8x
P/E ratio 2020 14,6x
EV / Sales2019 2,26x
EV / Sales2020 1,76x
Capitalization 208 B
Chart BOEING COMPANY (THE)
Duration : Period :
Boeing Company (The) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BOEING COMPANY (THE)
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 422,91  $
Last Close Price 369,52  $
Spread / Highest target 35,3%
Spread / Average Target 14,4%
Spread / Lowest Target -18,8%
EPS Revisions
Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO, EVP-Corporate Development & Strategy
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
Sector and Competitors
1st jan.Capitalization (M$)
BOEING COMPANY (THE)12.48%207 903
AIRBUS SE57.17%110 305
TEXTRON17.48%12 225
DASSAULT AVIATION1.41%10 933
EMBRAER-11.16%3 759
AVIC ELECTROMECHANICAL SYSTEMS CO LTD--.--%3 540