Finmeccanica and Boeing Finalize 787 Supply Agreement; Alenia Aeronautica Receives an Initial Order of Components for 150 Aircraft, Valued at Approximately US$1.1 Billion(ROME--BUSINESS WIRE--Aug. 3, 2005) -- Alenia Aeronautica and The Boeing Company have signed a formal agreement that defines a major role for Finmeccanica in the 787 Dreamliner program.
The Finmeccanica company has been awarded an initial order of components for 150 aircraft valued at approximately US$1.1 billion.
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This is one of the most significant contracts ever secured by Finmeccanica in the civil aircraft business. Boeing has already received 143 firm orders since launching the program in April 2004.
The original agreement with Boeing was initially the production of components for both the fuselage and the tail section of the 787 aircraft. In addition to this Alenia Aeronautica's structures laboratory in Pomigliano d'Arco (near Naples) will now also perform static and fatigue testing on the horizontal stabilizer built at (Alenia Aeronautica's) Foggia facility, and will carry out research and engineering activities. The company will also run development and production programs at its Taranto-Grottaglie and Foggia plants.
"This agreement," said Pier Francesco Guarguaglini, President and CEO of Finmeccanica "will enable our group to further strengthen the collaboration with Boeing as well as our presence in the USA, where we will use our facility in Charleston to assemble the fuselage sections of the 787."
The agreement thus enables Alenia Aeronautica to use its technological expertise to contribute further to the new Boeing aircraft program. Alenia has plan to invest more than EUR 500 million in the 787 program over the next three years.
"We are proud of our long, successful relationship with Finmeccanica," said Mike Bair, vice president and general manager of the 787 program. "The 787 will be a dramatic step forward in creating an even stronger bond between Boeing and its Italian partner."
Alenia Aeronautica has been a player in the 787 program right from the outset: more than 200 Italian technical and engineering staff have been involved since the design stage. Alenia Aeronautica is also working on the program through Global Aeronautica, a joint venture with the US company Vought Aircraft Industries, which will be responsible for the pre-assemblage of the fuselage sections. The two companies will manufacture the central and rear fuselage sections and the stabilizer, which together make up 26% of the Dreamliner's structure.
The 787 is the most advanced program currently under way in the civil aviation field, and will represent a benchmark in the strategic development of the world's airlines over the next decades. To date, the Dreamliner has received in total 252 firm orders and announced commitments from 20 airlines located throughout the world.
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Enrique Briz, 212-660-6759
Source : Finmeccanica