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Van Nuys Raytheon Facility Sold

Raytheon Co., a defense contractor that has a service center at Van Nuys Airport, has sold its business jet division to a new company created by a private equity firm. Hawker Beechcraft Corp., a company formed by Goldman, Sachs and Onex Partners affiliate GS Capital Partners, will pay $3.3 billion for the division, which includes the Van Nuys asset. The facility provides maintenance and service for Raytheon aircraft in the field. The sale is expected to close in the first half of 2007. “The sale of the Raytheon Aircraft Co. further demonstrates our commitment to deliver on the company’s strategy of focusing on our core government and defense business and providing the best technology, solutions and mission support to our global customers,” Raytheon Chairman and CEO William H. Swanson said in a statement released Thursday. The transaction includes Raytheon facilities and other assets in Wichita and Salina, Kan., Little Rock, Dallas and the company’s fixed based operations in the United States, Mexico and the United Kingdom.

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