MUCH RIDING ON BOEING ROCKET NEW ENGINE COULD BOOST FIRM'S FUTURE.Byline: Evan Pondel Staff Writer CANOGA PARK - Boeing is poised to launch the first rocket engine produced in the U.S. since the 1970s, a potential boon for an aerospace company that has endured financial turbulence in recent years. The launch was initially scheduled for this afternoon at Cape Canaveral Cape Canaveral (kənăv`ərəl), low, sandy promontory extending E into the Atlantic Ocean from a barrier island, E Fla., separated from Merritt Island by the Banana River, a lagoon; named (1963) Cape Kennedy in memory of President John in Florida, but was postponed indefinitely Friday. Boeing engineers and executives are tempering their enthusiasm, as a successful launch means the company would be able to secure future contracts with the U.S. Air Force. A faulty launch, and the company loses a costly endeavor to Russian competitors. ``A normal launch is what we're looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. here,'' said John D. Phelps, who was chief engineer on the RS-68 rocket engine project between 1997 and 2000. ``We're planning on building many more of these (rocket engines) and we've invested for the future.'' A Boeing launch team was working to resolve ``a potential issue'' with the rocket as of Friday afternoon. The Delta IV rocket The Delta IV is a family of Delta rockets designed by Boeing's Integrated Defense Systems division and built in United Launch Alliance's facility in Decatur, Alabama with final assembly at the launch site by United Launch Alliance. sits atop the RS-68 engine. The vehicle is carrying a commercial telecommunications satellite for French company Eutelsat. ``A successful launch of this rocket is important on many levels,'' said Robert Toomey, an analyst with RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Dain Rauscher. ``The company's Delta program would certainly benefit from the launch by shoring up Noun 1. shoring up - the act of propping up with shores propping up, shoring supporting, support - the act of bearing the weight of or strengthening; "he leaned against the wall for support" some confidence out there.'' In 1998, the inaugural flight of Boeing's Delta III rocket The Delta III rocket was an expendable launch vehicle made by Boeing. The first Delta III launch was on August 26 1998. Of its three flights, the first two were failures, and the third—which succeeded—carried only a dummy (inert) payload. ended in an explosion. The vehicle was a carrying a satellite built by Hughes Space & Communications. The launch was postponed for two days due to Hurricane Bonnie The name Bonnie has been used for five tropical cyclones in the Atlantic Ocean. Bonnie is not to be confused with Bonny, which was used in the Pacific Ocean.
Aside from rejuvenating respect, the creation of Boeing's new rocket engine introduces a more efficient method of manufacturing. Steven Jacques, program manager for the rocket engine, said the materials used for the new booster cost significantly less than previous models. ``And it doesn't take nearly as long to make this rocket engine. I'd also say it's more reliable,'' he said. But Jacques would not reveal how much it costs to manufacture the RS-68. Unlike past engines, the RS-68 appears sleeker in design, without utilizing heavier materials that weighed other models down. Fueled by liquid hydrogen Liquid hydrogen is the liquid state of the element hydrogen. It is a common liquid rocket fuel for rocket applications. In the aerospace industry, its name is often abbreviated to LH2 or LH2. and oxygen, the RS-68 has the ability to lift more than 29,000 pounds. ``We're proud of this project and the excitement is mounting now that the engine is ready to go,'' Jacques said. More than 300 people from Boeing's Canoga Park facility have worked on the RS-68 in the last four years. So far, the company has contracts to manufacture about 40 rocket engines. Rocketdyne, which is the rocket manufacturing arm of Boeing, has several competitors. The biggest rival is Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. . ``Boeing is certainly way ahead of Lockheed, though, in terms of the Delta IV,'' said Paul Nisbet, analyst with JSA JSA - Japanese Standards Association. Research Inc. in Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. . ``What's hurting Boeing is the lack of demand for commercial satellites over the years.'' Boeing's pain has translated to layoffs. In October, the company announced plans to cut 1,200 to 1,500 jobs in the ensuing six months. The reductions are in addition to the 30,000 jobs that Boeing expects to eliminate in 2002 because of a weak airline market and foundering commercial jet production. ``I'm not saying the RS-68 will rescue Boeing, but it could certainly help bolster their performance,'' Nisbet said. Boeing's stock has also seen troubled times. In April, Boeing shares were hovering around $52. As of Friday's close, the company was trading at $31.50 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . In Boeing's most recent quarter, the company reported earnings of $375 million, or 46 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with net income of $713 million, or 88 cents per share, a year earlier. ``Obviously, they have some room to make up,'' Toomey said. ``Any improvement the RS-68 can make to Boeing's financial performance is certainly a positive right now.'' CAPTION(S): 4 photos, box Photo: (1 -- color) Roger Dunn and Mike Leonard measure an engine component at Rocketdyne. More than 300 people from Boeing's Canoga Park facility have worked on the firm's new RS-68 rocket engine in the last four years. (2 -- color) Machinist Terry Marvin works on an engine component at Boeing's Rocketdyne facility in Canoga Park. Boeing has high hopes for its new RS-68 rocket engine. (3) John Phelps looks at a completed engine at Rocketdyne. The firm has contracts to manufacture about 40 of its new RS-68. Company officials are banking on a good launch. John McCoy/Staff Photographer (4 -- color) no caption (RS-68 Booster Engine) Box: ROCKET SCIENCE SOURCE: The Boeing Co.; Rocketdyne Propulsion & Power Daily News |
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