American Boeing expects to open a new factory in China for final production of the company's 737 models.
The plant is expected to be operational by the end of the year, CEO Dennis Muilenburg said in connection with the first-quarter interim report, the Wall Street Journal reports.
Boeing's factory in China is in Shanghai and is owned through a joint venture with the local Commercial Aircraft Corporation of China. Dennis Muilenburg said that a factory on site is necessary if the company is to compete with European Airbus.
Boeing also reported strong figures in the first quarter. Not only did it beat expectations, but the company also chose to raise its full-year forecast for profit and operating cash flow.
Source: finwire
