The Boeing Company announced a reorganization and consolidation of its product financing activities into a newly restructured subsidiary, Boeing Capital Corporation. "This reorganization is intended to enhance The Boeing Company's ability to address the financing requirements of its diverse customer base and to capitalize on global growth opportunities to increase shareholder value for the company," said Walt Skowronski, Boeing's vice president of finance and treasurer. "As the world's largest aerospace company, we have significant capabilities to bring to this expanding marketplace, and look forward to providing value added services to all our customers."
Boeing Capital Corporation will continue as a wholly owned subsidiary of The Boeing Company, but will now integrate the existing financial services activities supporting commercial aircraft, military aircraft and missiles, and space and communication markets. Boeing Capital Corporation will continue to report in to the parent company's Treasury organization.
"As the financial service arm of Boeing our primary goal is to support the sale of the company's products and services," said Tom Motherway, president of Boeing Capital Corporation. "As in the past, we will both structure and arrange financing. Our business activities will encompass a full range of financing services and instruments. We are excited about the opportunity this presents for our customers and shareholders," Motherway said.
The headquarters of Boeing Capital Corporation will move to Seattle from Long Beach, Calif.