Boeing, Northrop Grumman Part Of White House-Backed Advanced Manufacturing Program

In this article:
  • Boeing Co (NYSE: BA) and Northrop Grumman Corporation (NYSE: NOC) will join a White House-Backed Advanced Manufacturing Program to assist smaller American manufacturers in using 3D printing and other cutting-edge production technology more often, reported Reuters.

  • The program seeks to boost suppliers' use of additive manufacturing (AM).

  • The program, Additive Manufacturing Forward (AM Forward), is organized by the non-profit Applied Science & Technology Research Organization of America (ASTRO America).

  • "The supply chain crisis isn't just about building out ports. It's about building up parts – right here in America's small business factories," explained ASTRO America's CEO, Neal Orringer.

  • Boeing and Northrop Grumman aim to increase the number of small- and medium-sized suppliers competing over quote packages for products using additive manufacturing.

  • Boeing will also aim to provide technical assistance to fulfill certification standards and enhance its certified small and medium supplier capacity by 30%.

  • Price Action: BA shares trading lower by 0.77% at $170.6 and NOC lower by 0.20% at $484.53 during the premarket session on Wednesday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement