Aerospace sale

About the article

This is a digitised version of an article from The Cayman Compass's print archive. Occasionally, the digitisation process introduces transcription errors, or other problems.

See the article in its original context from June 1993.

Brought to you by

KBD Foundation Logo
Open Original Page
Article scan
LONDON (AP) - British Aerospace PLC said Tuesday it agreed to sell its corporate jet business for 250 million pounds ($390 million) to U.S-based Raytheon Co.

The corporate jets division designs, builds and sells the 125-800 and 125-1000 business airplanes, the latest version of a line that first went into service in 1964.

British Aerospace said it was approached by Raytheon, the Lexington, Mass., company known for making the Patriot missile defense systems widely used in the Gulf War. Raytheon already owns Beech Aircraft, a U.S.-based planemaker.