LEXINGTON, Mass., July 7 /PRNewswire/ -- Raytheon Company (NYSE: RTNA,
RTNB) today announced that it has finalized the sale of Raytheon Engineers and
Constructors (RE&C) to Morrison Knudsen Corporation (NYSE: MK). The companies
announced their definitive agreement on April 17.
As part of the transaction, Raytheon received a $53 million cash payment
at closing in addition to retaining $250 million of cash collected from RE&C
operations during the 2000 first quarter. Raytheon also retained $190 million
of billed receivables, $60 million in other net assets and net pension assets
of $320 million.
Raytheon Company is a global technology leader that provides products and
services in the areas of commercial and defense electronics and business and
special mission aircraft. Raytheon has operations throughout the United
States and serves customers in more than 70 countries.
Contact:
David Polk
781.860.2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
David Polk of Raytheon Company, 781-860-2386
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