Boeing Winds Down Cargo Aircraft Amid Sequestration Cuts

Law360, New York (September 19, 2013, 4:47 PM EDT) -- Boeing Co. will wind down production of the C-17 Globemaster III military transport aircraft by 2015 amid flagging customer demands in large part due to the sequestration budget cuts, the aerospace giant said Wednesday.

Production of the C-17, frequently deployed in humanitarian and peacekeeping operations around the world, will grind to a close over the next two years and the last assembly facility in Long Beach, Calif., will be shuttered in 2015, according to a statement by Boeing.

Boeing executives cited sluggish customer demands in a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.