OREANDA-NEWS. Boeing [NYSE: BA] and its negotiations team are pleased that professional engineers represented by the Society of Professional Engineering Employees in Aerospace (SPEEA) approved their contract tonight.

However, the company is deeply disappointed that technical employees rejected the company's best-and-final offer and authorized a strike.

"Our goal throughout this entire process was to make sure SPEEA-represented employees were rewarded for the contributions they bring to this company every single day," said Ray Conner, president and CEO, Boeing Commercial Airplanes. "We believe this offer leads the market in every way."

"The realities of the market require us to make changes so we can invest in new products and keep winning in this competitive environment, which will allow us to continue to provide a solid future for our team. That's why our proposal to move future hires to an enhanced 401(k)-style retirement plan is so important, as we have repeatedly emphasized over the course of these negotiations," said Conner. "Now more than ever is the time to move forward together."