- 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.
First Republic Bank Faces Limit On Fed Borrowing, Loses More Than 25% Of Market Cap In Session
First Republic Bank (NYSE: FRC) is facing a potential FDIC downgrade that would limit the bank's ability to borrow from the Federal Reserve.
