Vought Aircraft signs contract worth an estimated $1 billion

Dallas-based Vought Aircraft Industries, Inc. (www.voughtaircraft.com) has signed a life-of-program contract extension with Airbus for various long-range aircraft wing packages company officials say could be worth roughly $1 billion over the next five years.

"This contract extension with Airbus is extremely important to us," said Neil Peace, Vought's Airbus program director. "We see it as a vote of confidence in our manufacturing capabilities and quality." Alan Smith, Vought's Airbus business director, said in a press release that Vought is making "additional capital investments to upgrade our existing equipment, including multiple automated riveting machines and high-speed, long-bed machining centers." "These investments are important to meet the commitments under the contract and are large building blocks in our growing relationship with Airbus," Peace added.

Vought Aircraft employs a workforce of about 1000 at a facility adjacent to the Nashville, Tenn. International Airport.