LEXINGTON, Mass., Dec. 19 /PRNewswire-FirstCall/ --
Raytheon Company (NYSE: RTN) announced today that it will eliminate its 20-
person Raytheon Commercial Electronics (RCE) business headquarters located in
Lexington, Mass., and reassign its commercial electronics businesses to its
government and defense business units. This action will properly align the
natural synergies of each individual commercial electronics business with the
appropriate Raytheon Company government and defense business. This action is
effective Jan. 1, 2003.
The RCE businesses will transition as follows:
-- Raytheon Marine High Seas, located in Kiel, Germany, and RF Components,
located in Andover, Mass., will transition into Integrated Defense
Systems of Tewksbury, Mass.
-- Raytheon Commercial Infrared, located in Dallas, Texas, and ELCAN,
headquartered in Midland, Ontario, and its divisions in Richard, Texas
and Malaga, Spain, will transition into Network Centric Systems of
McKinney, Texas.
Jack Wohler, 61, president, Raytheon Commercial Electronics, has announced
his retirement effective the end of January. "Jack completes his career after
doing a terrific job in helping to improve our commercial businesses," said
Daniel P. Burnham, Raytheon chairman and chief executive officer.
Based in Lexington, Mass., Raytheon Company is a global technology leader
in defense, government and commercial electronics, and business and special
mission aircraft.
Contact:
Amy Hosmer
781-860-2423
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Amy Hosmer of Raytheon, +1-781-860-2423
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