For Immediate Release: January 17, 2001
Contact:
Catherine Dunsby, GM-NY
212-418-6385
Charles Licari, GM R&D
810-986-0077
DETROIT - General Motors Corp. (NYSE: GM) today announced that it has acquired a one-third equity stake in HRL Laboratories, LLC from co-owners The Boeing Company and Raytheon Company.
As a result of this purchase, GM, Boeing and Raytheon will share equal ownership of HRL Laboratories, with HRL providing corporate research and development for all three companies as well as other customers.
HRL, formerly Hughes Research Laboratories, was until 1997 the corporate research and development laboratory for Hughes Electronics, a wholly owned subsidiary of General Motors. Raytheon acquired a 50 percent equity stake in HRL in December 1997 as a result of its merger with Hughes Aircraft. Hughes Electronics maintained the other one-half ownership interest until October 2000, when it sold its Space and Communications business, which HRL primarily supported, to Boeing.
"HRL has been a significant contributor to the overall innovation process at General Motors," said Harry Pearce, GM vice chairman. "We believe this new partnership will provide even greater opportunities for technical collaboration, utilizing the combined strength of GM, HRL, Raytheon and Boeing."
GM has contracted directly with HRL for exclusive research for automotive and locomotive applications since 1997.
Its focus areas for GM include:
- Broadband wireless communications, networks and antenna systems
- Advanced sensors and materials
- Real-time signal and data processing
"Our new ownership position enhances our technical capabilities in several areas of critical importance to GM," said Dr. Lawrence D. Burns, vice president of GM Research & Development and Planning. According to Burns, HRL will become a part of a GM network of satellite laboratories which provide GM with access to cutting edge technology worldwide, through wholly owned research operations, partially owned research entities, alliance partners, selected universities, and other sources.
"GM's equity ownership in HRL supports our global strategy of alliances and partnerships," Burns said, "and leverages technical competencies and 15 years of automotive research experience at HRL."
According to Burns, the equity stake also increases HRL focus on GM business and technology needs, and GM's presence on the West Coast, providing greater access to leading-edge technology developments there.
In addition to providing services for its three owners, the Malibu, Calif.-based HRL is the prime contractor on a number of government research and development programs and provides research and development services for commercial customers.
