Update: Boeing to purchase Vought fuselage plant

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Update July 8: Boeing may be further expanding the operations in Charleston. Read more.

Update July 7: Boeing has agreed to purchase the plant for some $580 million.

A press release said:

Through the agreement, Boeing will acquire the North Charleston facility, its assets and inventory and will assume operation of the site, and the parties will resolve all matters related to Vought's prior work on the 787 program. The cash consideration to be paid to Vought at closing is approximately $580 million. In addition, Boeing will release Vought from its obligations to repay amounts previously advanced by Boeing. Separately, Boeing entered into new agreements with Vought for work packages on the 737, 777 and 787.

First reporting:

According to the web site Flightglobal, which track Boeing's business moves, it looks as though the aircraft manufacturer is going to purchased North Charleston's Vought Aircraft Industries Incorporated's 787 fuselage plant.

Read more stories on this subject in our Boeing topic page.Read a general story at The Post and Courier, or get the scoop at Flightglobal.

The move isn't too shocking as the local plant has had many problems getting its product out the door on time. It was a situation that many thought was created because Boeing had let its manufacturing process become too decentralized.

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