November 21, 1997 in Nation/World

Boeing Joins Venture With Czech Airline

Compiled From Wire Services
 

Boeing and CSA Czech Airlines on Thursday announced formation of a joint-venture company in Prague to acquire a minority interest in Aero Vodochody, the Czech Republic’s largest aircraft maker.

Boeing, CSA and Aero Vodochody have been working on the venture since May, when the Czech government selected what was then the Boeing-McDonnell Douglas-CSA tender offer to become the strategic business partner for the Czech Republic’s aerospace company. Boeing has since merged with McDonnell Douglas.

Aero Vodochody’s current product line includes the L-39, L-59, L-139 and new L-159 Alca light combat and trainer airplanes. The firm also does aerospace subcontracting work and supplies 757 door skins to the Boeing Commercial Airplane Group.

The announcement said the limited-liability company, owned 90 percent by Boeing and 10 percent by CSA, will invest about $30 million for 34 percent to 40 percent of Aero Vodochody.

The Boeing-CSA company also will provide training in Western business practices, assistance in upgrading manufacturing and equipment and marketing support.

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