Times Staff and Wire Reports

Raytheon Plans Refrigerator Venture: The Lexington, Mass.-based company will form a $130-million joint venture with Meran Co., a China-based household and electrical appliance company, to produce ozone-friendly refrigerators, the China Securities Bulletin reported. Raytheon Co. will own 55% of the venture, with Meran holding the remaining 45%, a Meran official said. Raytheon will contribute funds and technology, and Meran will supply factory space and the use of its trademarks. The refrigerators will carry the Meran label and some will be marketed in Southeast Asia.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World