Boeing shrugs off trade war as UK plant opens

President Trump's orders for increased military spending leads to Boeing's Q3 revenue rising a billion dollars ahead of expectations - as the Seattle-based aerospace company opens a new plant in Sheffield, UK.

An airplane lands at sunset illustrating an article about Boeing opening a new plant in Sheffield UK
Boeing - America's biggest exporter - opened its first manufacturing plant in Europe on Thursday: a 6,200 square metre facility in Sheffield in northern England.The opening of the plant, which will make components for Boeing's 737 and 767 airliners, came less than 24 hours after the Seattle-based company raised its 2018 earnings forecast after reporting third quarter revenue of $25.15 billion, well ahead of analysts' expectations.

Boeing successfully avoids the US/China trade war

While Wall Street slumped this week because of the escalating trade war between the US and China, Boeing bucked the trend despite the fact China represents one of the company's most important markets.But because a Chinese tariff on US aircraft does not apply to the majority of the planes Boeing currently sells to China, the company has managed to successfully sidestep the trade war.Reporting Q3 revenue a billion dollars ahead of expectations, Boeing said it had experienced growth in its defence business at a time of increased military spending ordered by President Trump, and increased commercial aircraft profitability and orders.
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Employment in Sheffield: Boeing's £40 million plant will inititally employ 52 staff

Meanwhile, the £40 million plant in Sheffield was being hailed as "hugely significant" for the local area and the UK economy as a whole. It is situated on a former airfield, next to the University of Sheffield's Factory 2050, part of the institution's Advanced Manufacturing Research Centre (AMRC), with which Boeing has a 17-year relationship.Initially employing 52 staff, ranging from experienced engineers to more than 20 apprentices, the facility will produce more than 100 different high-tech actuation components, manufactured from UK raw materials, for trailing edges on the wings of the 737 and 767.
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Jenette Ramos, Boeing's senior vice-president of manufacturing, supply chain and operations, said: "We appreciate all the community support for Boeing's new advanced manufacturing factory in the UK. This is a fabulous example of how we are engaging global talent to provide greater value to our customers."In Boeing Sheffield, we are building on long-standing relationships and the region's manufacturing expertise to enhance our production system and continue to connect, protect, explore and inspire aerospace innovation."

Business Secretary Greg Clark's: UK government is commited to significant investment in aerospace

Business Secretary Greg Clark said, "Boeing choosing the heart of South Yorkshire as its first European home is testament to our capabilities, talent pool and strong manufacturing supply chains which are vital to job creation and creating value for local economies."We are leading the world in UK aerospace manufacturing and through our modern Industrial Strategy, we, along with industry, have committed to invest £3.9 billion in aerospace."

Sheffield Mayor Dan Jarvis: support for the new Boeing plant

Sheffield Mayor Dan Jarvis added, "This opening of this new facility is hugely significant for South Yorkshire, the wider Northern Powerhouse and, indeed, for the UK."Boeing's choice of location is a strong sign of confidence in our advanced engineering excellence, confidence in our workforce and strong manufacturing heritage, and confidence in the cutting-edge collaborations between university and business that enable us to lead the world."Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Global Mobility Toolkit download factsheets resource centreAccess hundreds of global services and suppliers in our Online DirectoryClick to get to the Relocate Global Online DirectorySubscribe to Relocate Extra, our monthly newsletter, to get all of the international assignments and global mobility news.

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