The Boeing Company Conference Call to Discuss Sale of Facility in Arnprior Canada - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: Good morning, ladies and gentlemen. Welcome to the Boeing Company conference call on the agreement to sell the Boeing Arnprior facility. At this time, all participants are in a listen-only mode. We will begin with a few brief remarks, and then we will conduct a question-and-answer session. (OPERATOR INSTRUCTIONS). Please note that this conference is being recorded and transcribed.

I will now turn the conference over the call over to Mr. Chuck Cadena, Communications Manager with Boeing Commercial Airplanes, who will chair this conference call on behalf of Boeing. Please go ahead, sir.

CHUCK CADENA, COMMUNICATIONS MANAGER, BOEING COMMERCIAL AIRPLANES, THE BOEING COMPANY: Thanks for joining us today, everybody. I am Chuck Cadena, Public Relations Manager with The Boeing Company. This media briefing we are having this morning is by telecon only, and we are here to share with you the details of our announcement to sell the Boeing Arnprior facility to Arnprior Aerospace, Inc., a wholly-owned subsidiary of Consolidated Industries.

You all have the news release, so I will spare you the details of reading through that again. We have here to discuss this announcement with you John Cornish, who is with Boeing Commercial Airplanes. He is a Director within our Fabrication Division. He has oversight responsibility for Arnprior. We also have Bob MacDonald, who is the Site Leader for Arnprior. And we have Mr. John Wilbur, who is President of The Consolidated Industries.

And with that, operator, we will go ahead and take the first question.

OPERATOR: (OPERATOR INSTRUCTIONS) Michael Hammond, Ottawa Sun.

MICHAEL HAMMOND, ANALYST, OTTAWA SUN: Good morning, gentlemen. I have a question for Mr. Wilbur of Consolidated Industries. Obviously, people in the Ottawa area or the Arnprior area would be wondering what this sale might mean to the workforce. I noticed in the release there were some comments about your company's focus on growth and expansion plans. Do we have a comment on what is going to happen to the local workforce in Arnprior?

JOHN WILBUR, PRESIDENT, CONSOLIDATED INDUSTRIES, INC.: It is our hope to grow the workforce. We see -- we have a long-term agreement with Boeing as part of the deal. Boeing's rates are up as a result of recent things that are happening in the market. And it is our hope that we are going to grow with that business and with new business that we believe we can bring into the site.

OPERATOR: Andrew Mayeda, Ottawa Citizen.

ANDREW MAYEDA, ANALYST, OTTAWA CITIZEN: Just a follow-up to that question. So are we to interpret that to mean that there are no immediate job or pay cuts?

JOHN WILBUR: That is correct.

ANDREW MAYEDA: …