Boeing to revamp defense, space and security business

FeaturesReuters

Boeing Co said on Tuesday it would revamp its defense, space and security business and close its sites in El Paso, Texas and Newington, Virginia.

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The world's biggest planemaker said the consolidation would increase employment in Los Angeles County; St. Louis, Missouri and Huntsville, Alabama.

Boeing's defense, space and security business accounted for 31.4 percent of its total revenue in the quarter ended Sept. 30.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)