Manufacturing Industry
Boeing to sell operations in two states to Onex Corp.(AEROSPACE)
Advanced Materials & Processes, April, 2005
The Boeing Company and Onex Corporation announce an agreement under which Onex will acquire the Wichita/Tulsa Division of Boeing Commercial Airplanes. The transaction includes Commercial Airplanes facilities and assets in Wichita, Kansas, and Tulsa and McAlester, Oklahoma. Transaction consideration to Boeing includes approximately $900 million cash, transfer of certain liabilities, and long-term supply agreements that provide Boeing ongoing cost savings.
The single-source supply agreements cover the structures and parts currently produced by the Wichita/Tulsa Division, providing a stable base of revenue for the new business to build upon. In addition, the Wichita/Tulsa operations will continue as a major partner on the 787 Dream-liner. The sale is expected...
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