Following an announcement in March 2002 of its intention to sell its plant in Spokane, Washington, Boeing has successfully negotiated its sale. They will be selling the plant which produces a variety of aircraft composites and thermoplastics to Triumph Group Inc.
The agreement was reached on November 22, but only announced today. The financial terms were not released, with ownership expected to change hands by the end of the year.
Triumph is an existing Boeing supplier with a proven track record and long history. Boeing are comfortable with selling to Triumph and have entered into an eight year single source agreement to maintain supply from the Spokane plant.
Triumph will continue to operate the Spokane plant and continue to employ the 400 staff currently employed there. These factors were also paramount in Triumph winning the bid for the operation.
For more information on aerospace components click here.