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Boeing acquiring major supplier
Plane maker Boeing is bringing in-house one of its key manufacturing contractors.
Boeing has agreed a deal for $4.7bn to buy Spirit Aerosystems.
Spirit Aerosystems was previously a Boeing division but sold it two decades ago as part of a strategy to outsource functions.
Spirit Aerosystems at the center of the Boeing’s current problems.
It supplies fuselage and wing parts including the door panel that blew off mid-flight earlier this year.
Discussions to buy the company began just weeks after the January incident.
“By reintegrating Spirit, we can fully align our commercial production systems, including our safety and quality management systems,” said Boeing CEO Dave Calhoun.
The US Justice Department is set to charge Boeing with fraud.
Including debt, the total transaction cost of acquiring Spirit Aerosystems is about $8.3 billion.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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