The Boeing Company announced today the new name of its wholly-owned financial services subsidiary, Boeing Capital Corporation, formerly McDonnell Douglas Finance Corporation. Based in Long Beach, California the $2.6 billion finance unit celebrated its 28th anniversary last year with $48.8 million in net income, $867 million in new business, and a return on equity of 16.2 percent.
Boeing Capital Corporation will continue its business in structured financing and leasing. Additionally, Boeing Capital Corporation's holding company has been renamed the Boeing Capital Services Corporation.
Boeing also announced that it will change the name of its real estate subsidiary, McDonnell Douglas Realty Company, to Boeing Realty Corporation. This company has provided corporate real estate services on commercial acquisitions and dispositions and acted as corporate developer to maximize proceeds from surplus property dispositions.