Boeing to extend contract with COMAC

An official with the Commercial Aircraft Corp. of China (COMAC) said the company expects to extend its contract with Boeing (BA.NYSE) to provide the US aircraft maker with horizontal stabilizers for Boeing’s 737 jet, the Wall Street Journal reported. Boeing will extend the contract by 10 years, the official said, but did not detail any other terms of the contract. The US firm has shifted its manufacturing model in recent years to a system that depends heavily on overseas contractors to supply key components, including contractors in China.  COMAC’s subsidiary Shanghai Aircraft Manufacturing has been producing horizontal stabilizers for the 737 since the late 1990s. Boeing recently redesigned the 737 to carry new, more efficient engines, but has yet to win any orders for the plane in China.