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Boeing's machinist union in St. Louis approves contract extension

(Reuters) - Boeing Co's machinists' union in St. Louis approved a seven and a half year contract extension that will keep the company's unionized employees away from a defined benefit retirement plan. The company's contract with the more than 2,300 unionized workers, represented by the International Association of Machinists and Aerospace Workers, now expires in July 2022. The workers will shift from a defined pension to a 401(k)-style retirement benefit system on January 1, 2016, Boeing said in a statement on Sunday.

Boeing sees 'tough' defense business climate, flat margins

By Alwyn Scott (Reuters) - Boeing Co <BA.N> expects its defense business to continue facing a tough environment with "flatish" profit margins, Chief Executive Jim McNerney said on Wednesday. A recent federal government budget deal has pushed off automatic spending cuts known as sequestration by two years, but "sequestration has not gone away," McNerney said at a Cowen & Co investment conference.

U.S. Air Force, Boeing confident tanker program still on schedule

By Andrea Shalal-Esa WASHINGTON (Reuters) - U.S. Air Force and Boeing Co officials on Wednesday expressed confidence that a $52 billion air refueling program would deliver its first 18 planes by August 2017 as scheduled, despite a Pentagon report warning that testing of the new aircraft could be delayed by at least six to 12 months.

Boeing shares dip on cautious outlook despite fourth-quarter profit rise

By Alwyn Scott NEW YORK (Reuters) - Conservative profit and cash-flow forecasts spooked Boeing Co <BA.N> investors on Wednesday, sending the stock down 5 percent and overshadowing the company's strong fourth-quarter profit. The aerospace and defense giant said core earnings, which exclude some pension expenses, rose 29 percent to $1.84 billion, or $1.88 a share, far exceeding forecasts as it delivered record numbers of its 737, 777 and 787 aircraft and upped production rates.

Pentagon report sees delays in testing of new Boeing tanker

WASHINGTON (Reuters) - A new Boeing Co aerial tanker that will refuel warplanes during flight is expected to see operational testing slip by at least 6 to 12 months, according to a U.S. Defense Department report due to be officially released on Wednesday. The $52 billion KC-46 tanker program, one of the Pentagon's biggest arms programs, calls for Boeing to deliver the first 18 of 179 new planes to the Air Force by 2017 to replace the current fleet of 50-year-old KC-135 tankers.

A-12 settlement won't extend Boeing's F/A-18 production line

By Andrea Shalal-Esa NEW YORK (Reuters) - A settlement of a dispute over the canceled A-12 aircraft calls for Boeing Co to build three more EA-18G electronic attack planes for the U.S. Navy, but those jets will not extend the F/A-18 production line in St. Louis, according to Navy officials and company executives.

Boeing's 787 production at record high, just misses deadline

By Alwyn Scott SEATTLE (Reuters) - Boeing Co <BA.N> said on Friday it is producing its 787 Dreamliner at the highest ever rate of 10 per month, a milestone the company had hoped to achieve by the end of 2013. More details on 787 production are expected when the company releases fourth-quarter results on Wednesday.

Boeing hiring in South Carolina as it raises 787 production

(Reuters) - Boeing Co <BA.N> is hiring contract workers at its factory in South Carolina as it boosts output of the 787 Dreamliner and seeks to avoid manufacturing issues linked to the production increase, according to people familiar with the situation. Boeing confirmed on Wednesday that it is hiring at the facility but declined to provide details. The company was responding to a Wall Street Journal report that said the aircraft maker is adding about 300 contract mechanics and inspectors at its North Charleston facility.

Boeing, Etihad Airways, others to work on program to develop aviation biofuels in UAE

Aircraft maker Boeing Co., Etihad Airways, the oil company Total and others say they will work together on a program to develop an aviation biofuel industry in the United Arab Emirates. Boeing says in a news release Sunday that the program will involve research and development and investments in production of fuels derived from plants that can power aircraft.

After passing $9 billion in tax breaks, Washington state vows to help Boeing even more

OLYMPIA, Wash. - Even after giving Boeing Co. one of the largest packages of tax breaks in U.S. history, state leaders in Washington told the aerospace giant in a proposal released Wednesday that they were ready to do even more. In the 164-page proposal obtained under public disclosure laws, Gov. Jay Inslee and his administration vowed to work with Boeing on water quality issues, workers' compensation costs and improved transportation infrastructure.
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