Kansas, Oklahoma Commercial Plants Could Be Spun Off This Week

Boeing workers in Kansas and Oklahoma could find out as early as this week whether their plants are up for sale, according to the Daily Oklahoman.

The Oklahoma City newspaper reports Boeing last month told employees at the plants in Wichita, Tulsa and McAlester it's studying ideas on what to do with those facilities.

"Either we'll say we're done with the study and nobody was interested, or we'll say there is sufficient interest, in which case now we'll start talking to people and start touring people through the facilities," the paper quoted one insider as saying.

It would seem odd, on the face of it, for Boeing to sell its venerable Tulsa plant, located at Tulsa International Airport. The facility now employs about 1,000 people and is adding 500 more to work on wing components for the 7E7. About 180 people work at the McAlester facility, which makes wing components for the 777, as well as parts for other Boeing commercial aircraft.

Boeing's spokesman in Tulsa, Steve Hendrickson, confirmed that there's a study in the works. But he said workers shouldn't be too concerned about that. He said the plant there has gone through several owners in its four decade history. "During that 40 years, there's been a lot of different logos on the walls, so I don't think there's any undue concern."

ANN reported last month that GKN PLC is considering a deal on all three plants in Kansas and Oklahoma. GKN PLC has confirmed that it's interested in buying the three plants. Boeing has reportedly hired Goldman Sachs to market the properties.

GKN PLC is a British-owned company that makes parts for the aerospace and automotive industries. It's already purchased the Boeing plant in Hazelwood (MO).

The Oklahoman reports GKN has now filed for incorporation in Wichita. One company executive told the paper that it had a corporate presence in Kansas and, since its employees were paying taxes there, it decided to file the necessary paperwork. But aviation analyst Paul Nesbit says that's hogwash. GKN only has one employee -- a consultant -- living in Kansas.

The incorporation move is probably a sign GKN is "getting ready to do a deal," Nisbet said.

FMI: www.boeing.com, www.gknplc.com