(Reuters) -Boeing closed a deal this month to promote a small protection subsidiary that makes surveillance tools for the U.S. army, the corporate mentioned on Sunday, because the planemaker seems to shore up its struggling funds.
Boeing mentioned in a press release that Digital Receiver Know-how, which makes wi-fi tools utilized by intelligence providers, will probably 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 mentioned it might elevate as a lot as $25 billion in inventory and debt as its investment-grade credit standing comes underneath menace from manufacturing delays, security issues and a month-long strike in its U.S. planemaking heartland.
Hanging Boeing manufacturing unit staff on the West Coast, most in Washington state, will vote on Wednesday on a brand new contract proposal that would finish the strike, which has halted manufacturing of the 737 MAX, 767 and 777 jets.
(Reporting by Joe Brock in Los Angeles and Shivani Tanna in Bengaluru; Enhancing by Lisa Shumaker)
