By Bhaswati Mukhopadhyay
BANGALORE, June 23 (Reuters) - Shares of most U.S.-based parts suppliers to Boeing Co's 787 program fell on Tuesday, after the planemaker postponed the first test flight of its Dreamliner for a fifth time, citing a structural problem.
Boeing also said the first delivery would be rescheduled and it would be several weeks before a new schedule was available.
Many parts suppliers said it was too early to assess the effect of the change in schedule.
'We are evaluating the impact right now,' said Dan Coulom, a spokesman for Hamilton Sundstrand, a division of diversified U.S. manufacturer United Technologies Corp. 'We'll have a better understanding when Boeing communicates its revised schedule.'
Hamilton Sundstrand is the largest systems supplier to the 787, providing components that control its electric, heating and cooling systems. It expects to generate $15 billion of revenue from the 787 over the life of the program.
United Technologies shares closed down 1.4 percent at $51.84 on the New York Stock Exchange.
The 787 program change could have a negative impact on other suppliers, which include Spirit Aerosystems Holdings Inc , Goodrich Corp and Rockwell Collins, the extent of which will not be known until the revised schedule is formulated, analyst Paul Nisbet of JSA Research said.
Shares of Spirit Aerosystems, which provides the nose for the aircraft, closed down 5.9 percent.
'Until we get more information from Boeing, there is no immediate impact on us,' Spirit spokeswoman Debbie Gann said.
Spokeswomen for Goodrich, which makes wheels, brakes and other parts for 787, and Rockwell Collins, which makes cockpit electronics, also said it was too early to comment on potential effects of the latest delay. Rockwell shares eased 1.2 percent to $41.91, while Goodrich shed 36 cents to $49.07.
The widebody, fuel-efficient 787 aircraft, already two years behind its original schedule, has been plagued by repeated production delays and a two-month strike by machinists last year. Boeing executives had said at last week's Paris Air Show that the plane would fly in June.
'The suppliers were a lot more circumspect about the possibility of this thing (the 787 program) going forward without any more problems than anybody else was,' analyst John Simon of Zacks Investment Research said.
Hexcel Corp, which supplies composite materials for the aircraft, declined to comment on the impact of the delay. Its shares fell 8.7 percent. Triumph Group Inc, which supplies composite ducts and fittings to the Dreamliner, fell more than 4 percent.
Other smaller suppliers to the 787 program include Barnes Group Inc, Moog Inc and TransDigm Group .
(Additional reporting by Scott Malone in Boston and Karen Jacobs in Atlanta; Editing by Anil D'Silva) Keywords: BOEING/SUPPLIERS (karen.jacobs@thomsonreuters.com; Reuters Messaging: karen.jacobs.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
BANGALORE, June 23 (Reuters) - Shares of most U.S.-based parts suppliers to Boeing Co's 787 program fell on Tuesday, after the planemaker postponed the first test flight of its Dreamliner for a fifth time, citing a structural problem.
Boeing also said the first delivery would be rescheduled and it would be several weeks before a new schedule was available.
Many parts suppliers said it was too early to assess the effect of the change in schedule.
'We are evaluating the impact right now,' said Dan Coulom, a spokesman for Hamilton Sundstrand, a division of diversified U.S. manufacturer United Technologies Corp. 'We'll have a better understanding when Boeing communicates its revised schedule.'
Hamilton Sundstrand is the largest systems supplier to the 787, providing components that control its electric, heating and cooling systems. It expects to generate $15 billion of revenue from the 787 over the life of the program.
United Technologies shares closed down 1.4 percent at $51.84 on the New York Stock Exchange.
The 787 program change could have a negative impact on other suppliers, which include Spirit Aerosystems Holdings Inc , Goodrich Corp and Rockwell Collins, the extent of which will not be known until the revised schedule is formulated, analyst Paul Nisbet of JSA Research said.
Shares of Spirit Aerosystems, which provides the nose for the aircraft, closed down 5.9 percent.
'Until we get more information from Boeing, there is no immediate impact on us,' Spirit spokeswoman Debbie Gann said.
Spokeswomen for Goodrich, which makes wheels, brakes and other parts for 787, and Rockwell Collins, which makes cockpit electronics, also said it was too early to comment on potential effects of the latest delay. Rockwell shares eased 1.2 percent to $41.91, while Goodrich shed 36 cents to $49.07.
The widebody, fuel-efficient 787 aircraft, already two years behind its original schedule, has been plagued by repeated production delays and a two-month strike by machinists last year. Boeing executives had said at last week's Paris Air Show that the plane would fly in June.
'The suppliers were a lot more circumspect about the possibility of this thing (the 787 program) going forward without any more problems than anybody else was,' analyst John Simon of Zacks Investment Research said.
Hexcel Corp, which supplies composite materials for the aircraft, declined to comment on the impact of the delay. Its shares fell 8.7 percent. Triumph Group Inc, which supplies composite ducts and fittings to the Dreamliner, fell more than 4 percent.
Other smaller suppliers to the 787 program include Barnes Group Inc, Moog Inc and TransDigm Group .
(Additional reporting by Scott Malone in Boston and Karen Jacobs in Atlanta; Editing by Anil D'Silva) Keywords: BOEING/SUPPLIERS (karen.jacobs@thomsonreuters.com; Reuters Messaging: karen.jacobs.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.