Manufacturing Industry
Boeing sells assembly plants to Onex for USD1.2bn
Airline Industry Information, Feb 23, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
US aircraft manufacturer Boeing Co has entered into an agreement to sell its aircraft assembly plants in Kansas and Oklahoma.
The operations will be acquired by Canadian investment group Onex Corp for USD900m in cash and the assumption of USD300m of certain liabilities and debt. Specifically, Onex will take over Boeing's aircraft plant in Wichita, Kansas and other work sites in Tulsa and McAlester, Oklahoma.
Onex reportedly plans to invest an additional USD1bn in the newly acquired plants over the next five years, and will establish a new company to run them.
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