McDONNELL DOUGLAS RETAINS ITS FINANCE CORPORATION AS AN ONGOING BUSINESS
McDONNELL DOUGLAS RETAINS ITS FINANCE CORPORATION
AS AN ONGOING BUSINESS
ST. LOUIS, Nov. 11 /PRNewswire/ -- Following an extensive evaluation process, McDonnell Douglas Corporation (NYSE: MD) has decided to retain the McDonnell Douglas Finance Corporation as an ongoing business, focused on two core business lines -- aircraft financing and commercial equipment leasing.
McDonnell Douglas Corporation has concluded that having a finance subsidiary capable of assisting in financing a wide range of equipment, including McDonnell Douglas commercial aircraft, is consistent with the company's long-range strategic goals.
"McDonnell Douglas Finance Corporation has a long record of outstanding performance," John F. McDonnell, chairman and chief executive officer of McDonnell Douglas Corporation, observed. "I am confident that it will come out of the current difficult economic environment stronger than ever."
McDonnell Douglas Finance Company will continue to downsize its business by selling selected assets.
/CONTACT: Andrew Wilson of McDonnell Douglas Corporation, 314-233-1038/
(MD) CO: McDonnell Douglas Corporation ST: Missouri IN: ARO SU: CH -- LA026 -- 3191 11/11/91 17:14 EST