Boeing Announces Plans to Expand Montana Facility (BA)

Boeing Co. (BA) announced on Tuesday its plans to expand its manufacturing site in Helena, Montana by nearly 50%.

The company cited increased demand for commercial airplanes and new work for the Boeing 787-10 Dreamliner as the primary reason for the expansion. The expansion will cost approximately $35 million, adding more than 55,000 square feet to the facility. Boeing plans to begin construction this fall and estimates completion by the end of 2014.

Commenting on the expansion, President and CEO Jim McNerney noted “Our further investment  in Montana is testament to our Helena team’s ability to deliver on their commitments and establish themselves as a reliable, globally competitive supplier to our commercial airplane programs.”

Boeing shares gained 1.23% during Tuesday’s session. Year-to-date, the stock is up 50.08%.