OTTAWA, Nov. 19, 2009 — The Boeing Company [NYSE: BA] today announced that it has successfully completed its Industrial & Regional Benefits (IRB) Program for Phase 2 of the CF-18 Fighter Avionics Modernization Program for the Canadian Forces. This achievement, reached three years ahead of schedule, underscores the company’s continued success in meeting its industrial participation commitments.

Boeing in January announced it had completed Phase 1 of the CF-18 IRB Program one year ahead of schedule. The company has successfully implemented industrial participation programs totaling more than US$31 billion in nearly 40 countries over the past 30 years.

“The completion of the CF-18 Phase 2 IRB program continues our long-standing global commitment to partner with local industry,” Gwen Kopsie, director of International Industrial Participation & Alliances for Boeing Integrated Defense Systems, said Nov. 18 in Ottawa. “The relationship between Boeing and Canada flows both ways — bringing Boeing new business and best-of-industry suppliers, while developing partnerships and issuing contracts that result in long-term, high-value jobs for Canadians.”

Beyond the CF-18 Phase 2 IRB program, valued at nearly $138 million, Boeing has four active IRB programs in Canada, each coordinated by Industry Canada. The company is on track with two commitments, valued at nearly $1.5 billion, tied to the purchase and sustainment of four C-17 airlifters — designated the CC-177 for Canadian Forces — as well as a current commitment of $31 million in reinvestments for Canada’s contract for ScanEagle unmanned aircraft services.

More recently, Boeing began implementing an IRB program associated with its receipt of a contract from Canada in August for 15 CH-47 Chinook medium-to-heavy-lift rotorcraft — designated the CH-147 for Canadian forces. In addition to the $1.15 billion Boeing will reinvest across Canada as part of the CH-147 delivery contract, the company also could provide industry benefits in excess of $2 billion over 20 years for potential in-service support of the CH-147 fleet.

Boeing has been a major contributor to the Canadian economy since 1919, generating approximately $1 billion in business annually. The company employs highly skilled workers in Nova Scotia, Quebec, Ontario, Manitoba, Alberta and British Columbia in support of its commercial and defense business units. Canada also is home to one of Boeing’s largest international supplier bases, with more than 200 suppliers in every region of the country, providing a diverse mix of high-value goods and services to Boeing and its customers.

Source: Boeing