Raytheon reports dropped sales
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Manufacturing News, Source : TheManufacturer.com
Published : 10 Sep 2002 20:54
The Raytheon Company announced that production of its Premier 1 jet has slowed down considerably, but its financial target for the program remains intact.
The Premier 1 jet program was developed to rejuvenate the company’s failing aerospace division. Overall, sales of corporate jets have strongly declined in recent months because of decreased demand.
Production delays will not hurt the company too much because Premier makes up a small portion of the company’s overall business, said Paul Nisbet, a JSA Research analyst.
According to the Wall Street Journal’s recent article, Raytheon Aircraft Co. will fall significantly short of its targets for delivering the aircraft as it scrambles to fix manufacturing problems.
While it is true that the rate of delivery is lower than initially planned, we are not going to sacrifice quality for speed, said David Polk, Raytheon’s spokesman.
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