NEW YORK (AP) -- Boeing will create a research and technology center in Brazil to develop aerospace technologies.
The airline has had a relationship with Brazil since 1932, when it delivered 14 F4B-4 airplanes to the country's government. Boeing's first commercial delivery to Brazil was in 1960.
Boeing, which is based in Chicago, said Tuesday that Brazil is Latin America's fastest-growing commercial aviation market. The company anticipates that the country will need to buy more than 1,000 airplanes worth more than $100 billion in the next 20 years.
The San Paulo center, which will be called Boeing Research & Technology-Brazil, will be the base for it to collaborate with Brazilian research and development organizations including government agencies, private-sector companies and universities.
The facility is expected to concentrate on technology related to sustainable aviation biofuels, advanced air traffic management and advanced metals and bio-materials. It is expected to open later this year and will be Boeing's sixth advanced research facility outside the U.S. The company already has centers in Europe, Australia, India, China and Russia.
Shares of The Boeing Co. declined 51 cents to $74.66 in midday trading.