Boeing expected to end stake in rocket firm Sea Launch
Los Angeles Times
After struggling for nearly 15 years to prop up an unusual way to launch satellites into space, Boeing Co. is expected to throw in the towel and walk away from its stake in Long Beach-based Sea Launch Co.
Kjell Karlsen, Sea Launch president, said Wednesday that Boeing was likely to have little or no ownership position in the rocket launch company after it emerges from Chapter 11 Bankruptcy Court reorganization early next year.
“Based on what Boeing has said to us, I don’t expect them to commit any more capital to this venture,” Karlsen said. “I would like to see Boeing being part of the new Sea Launch, but it’s more likely they will work in a supplier capacity and not in an ownership role.”
Boeing’s pullback could jeopardize the venture if Sea Launch is unable to come up with new investors to fill the void, analysts said.
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