Boeing Announces Agreement to Acquire Summit Aeronautics Group in Montana

Provides additional capacity to manufacture titanium and other hard metals structures

Boeing http://www.boeing.com/ (NYSE: BA) announced today that it has agreed to acquire the business and operations conducted by Summit Aeronautics Group http://www.summitaero.com/ in Helena, Mont. Summit employs 135 people to manufacture titanium and other hard metal structures for commercial and military aircraft.

This acquisition extends a strong partnership between Boeing and Summit. Summit currently performs hard metal machining on 747-8 fail-safe bars, which allow the flaps to move on the wings; 787 edge frames that fit around the doors; and 767 main-landing-gear beams, which facilitate the landing gear rotation. After the transaction, Summit will continue its work on these Boeing programs and manufacture other machined parts for the 787. Summit also will continue to support existing military programs.

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