Aerospace giant Boeing Co. said it is going to start cranking out the company's bestselling 737 jets at its highest production rate ever.
The company, which assembles the single-aisle airliner in Renton, Wash., said it is going to build 737s at the increased rate of 42 airplanes per month. That’s up 33% from 31.5 planes a month since 2010.
Mechanics will load initial parts into an automated assembly machine on Wednesday, which marks the start of the new rate, Boeing said. The first 737 built at the new rate is scheduled to be delivered in the second quarter.
"This rate increase once again reflects our commitment to put the world's best-selling airplane into the hands of our customers as quickly as possible," Beverly Wyse, Boeing vice president and program general manager, said in a statement. "Efficiency improvements in the factory, many of them developed by our employees, are a big part of why we are able to successfully increase the number of airplanes we build."
Boeing's announcement comes less than a week after it reported record revenues of $86.62 billion in 2013. The company said it plans to deliver 715 to 725 airplanes in 2014, up from last year's record of 648.
If all goes to plan, the Chicago-based company plans on increasing the 737 production rate to 47 planes a month in 2017.
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