Global Aeronautica Opens Its 787 Dreamliner Integration Facility.

Joint Venture of Alenia and Vought Will Assemble, Integrate 787 Fuselage

NORTH CHARLESTON, S.C. -- In a ceremony today involving local, state, national and international leaders, Global Aeronautica, LLC, officially opened its facility that will assemble and integrate components for the world's most technologically advanced aircraft - the Boeing 787 Dreamliner.

"Today is a significant moment for all those involved in making this dream a reality," said Vincenzo Caiazzo, chairman of the board of managers for Global Aeronautica. "In less than two years, we've built this facility from the ground up and are on schedule to deliver our first ship set in early 2007. That's a tremendous accomplishment, a true international achievement, and I'd like to thank everyone who had a hand in making this possible."

"Today's grand opening of the Global Aeronautica facility signifies the beginning of another important chapter in South Carolina's aerospace cluster," said South Carolina Gov. Mark Sanford. "The collaboration of two major aerospace companies, Vought and Alenia North America, that are coming together in this partnership to help build the next generation of passenger airplanes for Boeing is a major win for South Carolina in the global competition for jobs and investment. The success of this project will go a long way toward cementing our state's spot as a global competitor and as a top location to do business."

Global Aeronautica is a 50/50 joint venture of Alenia North America, Inc. Co a Finmeccanica company, and Vought Aircraft Industries, Inc. Global Aeronautica will assemble, integrate, test and apply surface finishes to more than 60 percent of the 787 fuselage prior to shipment to Boeing's final assembly facility in Everett, Wash.

Global Aeronautica will receive mid-fuselage sections from an international supply chain including Alenia Aeronautica S.p.A of Italy, Fuji Heavy Industries and Kawasaki Heavy Industries of Japan and Boeing - Winnipeg. In addition, it will receive aft fuselage sections from its next-door neighbor, Vought.

"Today marks the beginning of a new era for commercial aviation and the aerospace industry," said Giuseppe Giordo, president and chief executive officer of Alenia North America. "We are proud to play a primary role in what will be remembered as a truly revolutionary venture with our partners and the state of South Carolina."

"Today we celebrate many partnerships, all focused on creating the world's most advanced commercial airplane," said Elmer Doty, president and chief executive officer of Vought. "Vought is proud to play a role in making this dream take flight."

The 334,000-square-foot facility was built on a 240-acre site adjacent to Charleston International Airport and includes 252,000 square feet of manufacturing floor. In addition, the site will include a 54,000-square-foot surface finishes building.

Groundbreaking for the North Charleston 787 site took place in February 2005. Construction began at the site on March 17 by general contractor BE&K Building Group. Global Aeronautica received its certificate of occupancy from the City of North Charleston on June 6. Operations have already begun.

About Alenia Aeronautica

Alenia North America's mission is to further expand the industrial and commercial presence of the Alenia Group in North America and it is a wholly owned subsidiary of Alenia Aeronautica. Alenia North America Inc. is headquartered in Washington, D.C. with offices in Seattle, Washington; Long Beach, California; and Fort Worth, Texas. Alenia North America - Canada, a subsidiary wholly owned by Alenia North America, has offices in Ottawa, Canada. In addition to Global Aeronautica, Alenia North America is also a shareholder in a joint venture with L-3Communications Integrated Systems called Global Military Aircraft Systems (GMAS). GMAS is headquartered in Huntsville, Alabama and is a center of excellence to support the C-27J Spartan tactical multi-role airlifter in North America.

Alenia Aeronautica, headquartered in Rome, Italy is a company of the Finmeccanica Group. Alenia Aeronautica has revenues in excess of 2.046 billion Euros and a total work force of more 10,500 employees. Its main activities comprise design and production of commercial and military aircraft, design and production of aerostructures for military and civil aircraft and through Alenia Aeronavali, a wholly owned subsidiary, the overall maintenance and modification of military and civil aircraft. Alenia Aeronautica is a partner of and cooperates with the major global aerospace groups, including Boeing, Lockheed Martin, Airbus, EADS, Dassault, BAE Systems and Vought.

About Vought

Vought Aircraft Industries, Inc. (www.voughtaircraft.com) is one of the world's largest independent suppliers of aerostructures. Headquartered in Dallas, the company designs and manufactures major airframe structures such as wings, fuselage subassemblies, empennages, nacelles and other components for prime manufacturers of aircraft. Vought has annual sales in excess of $1.3 billion and about 5,900 employees in nine U.S. locations.