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The Boeing Company : Boeing says talks with SPEEA union will resume Wednesday

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02/23/2013 | 04:40am CET

Boeing Co and its engineering union have agreed to resume talks on Wednesday to replace an expired contract for 7,500 technical workers, another step toward settling negotiations that have continued for nearly a year.

Boeing said it had agreed to resume the talks with the Society of Professional Engineering Employees in Aerospace (SPEEA) under the auspices of the Federal Mediation and Conciliation Service, which has been involved in the talks since December. The union also said it had sought talks next week.

The resumption of talks comes after technical workers, one of two SPEEA bargaining units at Boeing, voted narrowly on Tuesday to reject Boeing's latest offer. The other unit, representing 15,500 professional engineers, voted narrowly to accept the offer.

Both units had authorized the union to call a strike in the vote, but the engineers' authorization is moot, since it agreed to the contract and that agreement prohibits workers from striking while a contract is in effect.

The union on Friday launched a survey of its technical workers, asking which issues they think are priorities for the next stage of negotiations.

(Reporting by Alwyn Scott; Editing by Daniel Magnowski)

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Financials ($)
Sales 2016 94 382 M
EBIT 2016 5 803 M
Net income 2016 4 751 M
Debt 2016 461 M
Yield 2016 2,76%
P/E ratio 2016 21,39
P/E ratio 2017 16,45
EV / Sales 2016 1,04x
EV / Sales 2017 1,05x
Capitalization 97 309 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 161 $
Spread / Average Target 2,0%
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Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Gregory D. Smith Chief Financial Officer & Executive Vice President
Ted Colbert Chief Information Officer
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
Kenneth M. Duberstein Lead Independent Director
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