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The Boeing Company : Boeing Opens New Navigation System Repair Line at Ohio Facility

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04/26/2012 | 06:37pm CET

Company is sole supplier of navigation systems for US Navy ballistic missile submarine fleet

14,000-square-foot facility in Heath incorporates more than $4M in improvements

HEATH, Ohio, April 26, 2012 -- Boeing [NYSE: BA] today marked the opening of a new Electrostatically Supported Gyro (ESG) repair line at the company's Heath facility. The new line increases the capability of the skilled workforce and equipment already in place for the repair and maintenance of the U.S. Navy's Electrostatically Supported Gyro Navigator (ESGN, or Trident Navigation System).

"As the sole supplier of navigators for the U.S. Navy's ballistic missile submarine fleet, we believe this new line will allow for a long-range sustainable advantage in product maintenance while we develop the next generation of ultra-high-precision inertial systems," said Joe Carlin, vice president of Boeing subsidiary Argon ST.

A key component of all Navy Trident submarines, the ESGN, which started production more than three decades ago, is the world's most accurate inertial navigation system. The new facility includes approximately 14,000 square feet of space dedicated to the ESG Stable Platform Housing refurbishment and test program, as well as space for modification, repair, maintenance and storage.

"Ohio class submarines have been patrolling the world's oceans with the Trident II (D5) missile system for 30 years, serving as a credible strategic deterrence against enemies," said Rear Admiral Terry J. Benedict, director of the U.S. Navy's Strategic Systems Programs. "The Electrostatically Supported Gyro Navigator has successfully supported this mission by supplying the Trident Weapon System with critical information."

Today's event also celebrated Boeing's commitment to the Heath community. Boeing made $4 million in improvements and upgrades at the facility, which also received investments from the Ohio Department of Development, the Heath-Newark-Licking County Port Authority, and American Electric Power. The Heath facility is Boeing's Center of Excellence for maintenance, repair and overhaul of guidance and navigation systems, inertial instruments and platforms.

Under the current contract, Argon ST employees are scheduled to conduct ESG repair and maintenance at the facility until 2025.

A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $32 billion business with 62,000 employees worldwide.@BoeingDefense.

# # #

Contact:

Becky Yeamans
Electronic & Mission Systems
Office: 703-828-2250
Mobile: 703-303-2449
[email protected]

Idalia Hill
Electronic & Mission Systems
Office: 703- 995-4280
Mobile: 703-401-6968
[email protected]

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Financials ($)
Sales 2017 92 608 M
EBIT 2017 9 473 M
Net income 2017 6 933 M
Debt 2017 2 237 M
Yield 2017 1,73%
P/E ratio 2017 29,60
P/E ratio 2018 25,91
EV / Sales 2017 2,18x
EV / Sales 2018 2,16x
Capitalization 200 B
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Average target price 343 $
Spread / Average Target 2,2%
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NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO & EVP-Enterprise Performance & Strategy
Ted Colbert Chief Information Officer
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
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