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Date: Tue, 15 Aug 2000 12:37:09 -0400
From: Duane Marble <[log in to unmask]>
Subject: [Fwd: Boeing To Acquire Jeppesen Sandersen]
Sender: Duane Marble <[log in to unmask]>
"AP / TIM KLASS, Associated Press Writer" wrote:
>
> SEATTLE (AP) -- The Boeing Co. is buying the flight information
> service provider Jeppesen Sanderson Inc. from Tribune Co. for $1.5
> billion in cash.
> The purchase, announced Tuesday, is a step toward ``transforming
> Boeing into a global aerospace solutions provider,'' said Boeing
> chairman Philip M. Condit.
> ``If you're a pilot almost anywhere in the world, you know
> Jeppesen,'' Condit said in a news release.
> The deal is subject to regulatory approval.
> Jeppesen, based in Denver, provides aviation mapping and
> navigational data, pilot training, computerized flight planning,
> aviation software, aviation weather services and maintenance
> information to both airlines and flyers.
> Tribune, the Chicago-based media and entertainment concern that
> owns the Chicago Tribune and The Los Angeles Times newspapers,
> acquired Jeppesen in June when it bought The Times Mirror Co. of
> Los Angeles.
> Proceeds from the sale will be used to reduce debt and
> repurchase stock and ``enables us to concentrate our financial
> resources on Tribune's major-market multimedia strategy,'' chairman
> John W. Madigan said in a statement.
> Jeppesen generated $235 million in revenues last year and has
> experienced annual growth of more than 10 percent since 1997.
> Boeing's statement said Jeppesen would be operated as a wholly
> owned subsidiary and current management will be retained.
> Jeppesen has 1,400 employees in Denver and at offices in other
> U.S. locations and in Germany, Australia, China, the United
> Kingdom.
> *------
> On the Net: Jeppesen site: http://www.jeppesen.com
> Boeing site: http://www.boeing.com
> Tribune site: http://www.tribune.com
>
>
--
Professor Emeritus Duane F. Marble
Center for Mapping Telephone: 614-292-4419
The Ohio State University Fax: 614-292-8062
1216 Kinnear Road
Columbus, Ohio 43212 Email: [log in to unmask]
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