Boeing (BA) to Hold Meeting to Announce Closing of Kansas Plant
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Boeing Co. (NYSE: BA) previously announced it was considering closing its Wichita, Kansas plant and now that decision may be here.
The company will be holding a mandatory meeting at 10:30 am local time (11:30 am ET) with its 2,000 employees at the plant, but there is no specific news yet on what exactly the meeting will be about. Bloomberg reports the management team will be informing its employees of the company’s decision to close the plant.
It also looks like Boeing will be moving the assembly of its aerial-refueling tankers to its wide-body jet factory in Washington state. The company originally stated it would be building the new tankers in Kansas, but signed a contract last month saying it would transfer the assembly of the tankers to its Washington plant if Boeing decided to close the Kansas plant.
The Wichita, Kansas plant was originally built in 1929 and has been mainly used fill its defense contracts. With the U.S. looking to cut military expenses by $450 billion through 2021, contracts and budgets will only become tighter.
Shares of Boeing are trading down 0.2 percent on the day to $74.05.
The company will be holding a mandatory meeting at 10:30 am local time (11:30 am ET) with its 2,000 employees at the plant, but there is no specific news yet on what exactly the meeting will be about. Bloomberg reports the management team will be informing its employees of the company’s decision to close the plant.
It also looks like Boeing will be moving the assembly of its aerial-refueling tankers to its wide-body jet factory in Washington state. The company originally stated it would be building the new tankers in Kansas, but signed a contract last month saying it would transfer the assembly of the tankers to its Washington plant if Boeing decided to close the Kansas plant.
The Wichita, Kansas plant was originally built in 1929 and has been mainly used fill its defense contracts. With the U.S. looking to cut military expenses by $450 billion through 2021, contracts and budgets will only become tighter.
Shares of Boeing are trading down 0.2 percent on the day to $74.05.
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