Boeing Completes Acquisition of Summit Aeronautic Group in Montana

SEATTLE, Dec. 21, 2010 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) announced today the completion of the acquisition of the business and operations conducted by Summit Aeronautics Group in Helena, Montana. Terms of the transaction, announced on Nov. 22, were not disclosed.

The newly acquired business will be named Boeing Helena. It will become part of Boeing Fabrication, a division of Boeing Commercial Airplanes. Boeing Helena will manufacture titanium and other hard-metal structures for Boeing commercial aircraft including the 747-8, 767 and 787.

Forward-Looking Information Is Subject to Risk and Uncertainty

Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expects," "plans," "intends," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements regarding the proposed acquisition of Summit include, but are not limited to, statements regarding the expected timetable for completing the transaction, future business prospects, our guidance relating to 2010 and 2011 financial and operating performance, product development and benefits and synergies of the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as of the date they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the effect of economic conditions in the United States and globally, the ability of the parties to satisfy the transaction conditions and complete the acquisition, the risk that competing offers will be made, our ability to successfully integrate Summit's business and realize anticipated synergies, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.

Contact:

Cris McHugh

Boeing Commercial Airplanes Communications

+1 206-851-9884

More information: http://www.boeing.com

SOURCE Boeing