Thu, Apr 22, 2004
British Company Reportedly Interested In Buying Kansas,
Oklahoma Boeing Plants
Far away from the prairies of Kansas and Oklahoma, a British
company is reportedly considering snapping up Boeing's
manufacturing plants in those states. Analysts say the deal would
be a $2.5 billion purchase.
Boeing won't say what the plants are worth, but the Wichita
Eagle quotes Wall Street analyst Paul Nisbet, who says, "They won't
say what sales are, but they can't hide the employees."
Boeing's commercial operation employs about 7,060 workers in
Wichita (KS), 830 in Tulsa (OK) and 170 in McAlester (OK). The
company has hired Wall Street's Goldman-Sachs to find a buyer.
Enter GKN PLC, a British company that was reportedly interested
in the Wichita commercial plant. Now, the Eagle reports the UK firm
may want to buy up all three facilities.
GKN PLC is a worldwide operation,
with plants in 30 countries concentrating on supplying parts to
both the aviation and automotive industries. The company produces
wing flaps, landing gear and doors for the C-17. It's also been
tapped as a partner on Boeing's 7E7 project.
GKN PLC admits it's interested in Boeing's Kansas and Oklahoma
plants, but is not yet ready to buy.
Can the company do it? Nesbit thinks it's possible. "(I)t would
be a stretch for them," said Nesbit. But "I get the impression
they'd really like to have it. Whether it's actually happening or
not is another thing."
GKN PLC and Boeing have already conducted this kind of business.
Not long ago, the company bought up Boeing's part manufacturing
plant in Hazlewood (MO).
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