(Reuters) -Boeing closed a deal this month to promote a small protection subsidiary that makes surveillance gear for the U.S. army, the corporate stated on Sunday, because the planemaker appears to be like to shore up its struggling funds.
Boeing (NYSE:) stated in a press release that Digital Receiver Know-how, which makes wi-fi gear utilized by intelligence providers, shall be bought to Thales Protection & Safety, an arm of Europe’s largest defence electronics agency, Thales SA.
Boeing didn’t disclose the phrases of the deal.
The Wall Avenue Journal reported earlier on Sunday that Boeing had agreed a deal to dump a small protection subsidiary, with out naming the unit.
Final week, Boeing stated it might elevate as a lot as $25 billion in inventory and debt as its investment-grade credit standing comes below menace from manufacturing delays, security issues and a month-long strike in its U.S. planemaking heartland.
Hanging Boeing manufacturing unit employees on the West Coast, most in Washington state, will vote on Wednesday on a brand new contract proposal that might finish the strike, which has halted manufacturing of the 737 MAX, 767 and 777 jets.