AEROSPACE & DEFENSE
From Times Staff and Wire Reports
Boeing Co. Sells de Havilland: The Seattle-based aircraft manufacturer finally sold its de Havilland commuter aircraft division, stemming a flood of red ink that it had to spend to keep the company going and ending a year and a half of intense negotiations. Under the deal, Boeing will receive about $60 million in cash and shed liabilities of about $160 million in the sale of the plant to Bombardier Inc. of Montreal and the Ontario government. Bombardier will put up $44 million to obtain a 51% stake in a newly formed company, de Havilland Inc., and the province will inject $42 million for a 49% share.
