Boeing (NYSE:BA) has plans to establish a new Avionics Maintenance, Repair and Overhaul Center in Korea.
Boeing To Develop Korea Center
Boeing (NYSE:BA) announced that it has inked a memorandum of understanding with the Korean province of Gyeongsangbuk-do and the city of Yeongcheon to establish an avionics Maintenance, Repair and Overhaul (MRO) facility in the region.
The center will service avionics components for the Republic of Korea Air Force (ROKAF) fleet of F-15K Slam Eagles.
Joe Song, vice president of International Business Development – Asia-Pacific for Boeing (NYSE:BA) Defense, Space & Security, said that, “Boeing (NYSE:BA) continues to improve its services by bringing them closer to our customers, reducing turnaround time and costs for mission-essential components. Over the past half century of working in partnership with the Republic of Korea, Boeing (NYSE:BA) has come to know Korea’s strong infrastructure and the excellent knowledge and talent base of its people and industry. We can tap into that as we expand our presence locally and grow our operations while supporting Korea’s development objectives”.
Boeing Co. (NYSE:BA) shares were at 70.82 at the end of the last day’s trading. There’s been a 6.2% movement in the stock price over the past 3 months.