Boeing to pay $580 million for South Carolina plant where parts for 787 Dreamliners are built

Boeing pays $580M for SC Dreamliner parts plant

SEATTLE — Boeing Co. said Tuesday it will pay $580 million in cash for a South Carolina plant where large components for the company’s eagerly awaited Boeing 787 Dreamliner planes are built.

Chicago-based Boeing is buying the North Charleston, S.C., plant from Vought Aircraft Industries. As part of the deal, Vought will be released from obligations to repay money that had been advanced earlier.

The acquisition boosts Boeing’s construction capacity for large airplanes. Boeing Commercial Airplanes CEO Scott Carson says the acquisition will increase productivity and efficiency.

Vought will continue to build components for the 787 as well as the 737 and 777.

The deal is expected to close in the third quarter.

(This version CORRECTS plant makes large components for Dreamliner, not plane itself)