ANKARA, Turkey, Feb. 22, 2010 — The Boeing Company [NYSE: BA] today announced it has successfully completed the second phase of its industrial participation program for the Peace Eagle 737 Airborne Early Warning & Control aircraft program for the Turkish Air Force. Boeing finished Phase 2 on time and exceeded this phase’s $270 million requirement by $21 million, demonstrating the company’s continued success in meeting its industrial cooperation commitments.

“Reaching this milestone continues our long-standing commitment to invest in the regions where we do business,” said Gwen Kopsie, director of International Industrial Participation for Boeing Defense, Space & Security. “This accomplishment further reinforces our focus on developing partnerships and issuing contracts that will result in long-term, high-value jobs in Turkey while further establishing Boeing as an enduring partner to Turkish industry. The Boeing Company has completed projects with 15 Turkish companies and institutions over the past six years.”

Boeing completed Phase 1 of the program in 2006. The company remains on track to fulfill all three phases of the $930 million program for Turkey’s Ministry of National Defense Undersecretariat for Defense Industries.

In addition to the Peace Eagle industrial participation program, Boeing also supports the Undersecretariat for Defense Industries’ efforts to increase Turkish technology and small-business activities through a NATO Airborne Warning and Control System industrial participation program. That program is on track for completion later this year.

“Boeing’s relationship with Turkey spans more than 60 years,” said Greg Pepin, president of Boeing Turkey. “Today, Boeing is a major contributor to the Turkish economy through its industrial participation programs, which support more than 1,000 direct jobs and will place work worth a total of more than $1.2 billion in Turkey through 2013. Boeing has many suppliers and customers in the region and enjoys close, mutually beneficial collaboration with airlines, government, academic institutions and industry.”

Boeing has successfully implemented industrial participation programs totaling more than US$41 billion in nearly 40 countries over the past 30 years.

Source: Boeing