Boeing sells RAN business to Raytheon systems Australia

Sea Power, Nov 1999

Boeing Australia Ltd. plans to sell its Naval Systems Division in Sydney to Raytheon Systems Company Australia by the end of this year, according to officials of the two parent companies, who said they have reached agreement "in principle" on the sale and have established a joint team to examine various issues relating to the sale and transfer of the division.

Rear Adm. Peter Briggs, head of the RAN's recently established Submarine Capability Team (SMCT) and the service's most senior submariner, stated that the RAN had not been involved in brokering the deal. "This is a purely commercial agreement between the two companies," he said-- but he added that the RAN has indicated to both parties that it is "comfortable" with the agreement.