P.M. BRIEFING : Japan Firms to Invest in 777 Jet
A consortium of three Japanese companies plan to invest about $825 million in the development of Boeing Co.’s proposed 777 jet, according to a published report.
The nationally circulated newspaper Asahi Shimbun reported that the three companies, led by Mitsubishi Heavy Industries Ltd., will inform Seattle-based Boeing by the end of the month of their intention to participate in the project. The newspaper identified the two other companies as Kawasaki Heavy Industries Ltd. and Fuji Heavy Industries Ltd.
Officials of the companies were not immediately available today to comment on the report.
Asahi said Boeing had asked the three Japanese firms to undertake 25% of the estimated $3.3-billion development cost of the project, or about $825 million.
The Boeing project calls for development of a new jet with a 300- to 350-passenger capacity.
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