Udpated timing of C-17 production line closure

Long Beach, Calif. - Boeing slightly adjusted the timing for ending C-17 Globemaster III production and closing its Long Beach, Calif., C-17 final assembly facility after a successful two-decade production run of the world’s premier airlifter.

Based on current market trends and the timing of expected orders, Boeing anticipates completing C-17 production in mid-2015, an adjustment of approximately three months from an initial estimate of late 2015. The company announced plans to end C-17 production in September 2013.

Boeing expects inventory–related charges of approximately $50 million, which will be recorded in the first quarter, as a result of this announcement.

Source: The Boeing Company, Boeing Defense, Space & Security