Boeing acquires AeroSystems for $4.7 billion

by times news cr

2024-07-07 01:19:00

The builder aeronautical United States Boeing confirmed yesterday that it reached a “definitive agreement” to buy its subcontractor Spirit AeroSystemsaccused of presenting
quality problems.

“The purchase will be made entirely in shares, for an approximate value of $4.7 billion, or $37.25 per share,” the company said in a statement.

Boeing revealed in March that it was in talks to reacquire Spirit, which it was spun off in 2005 to cut costs.

“We believe that this agreement is for the benefit of passengers, our customers, and our employees.” Spirit y Boeing, of our shareholders and the country as a whole,” said Boeing president,

Dave CaCalhoun He said that by reintegrating Spirit, “we can fully align our commercial production systems,” including quality and safety management systems, and “our workforce with the same priorities, incentives y resultsfocused on safety and quality.”

Boeing is the main customer of Spirit, with 70% of its revenue coming from the manufacturer American aeronautics in 2023.

The two companies have been under scrutiny since a near-catastrophic incident on January 5, when a blind door on a Boeing 737 MAX 9 operated by Alaska Airlines
broke away in mid-flight.

The case revived concerns about the MAX after two fatal accidents in 2018 and 2019.

Boeing announced operational changes on March 1 aimed at improving its interface with Spirit AeroSystems which included the assignment of additional Boeing personnel to work at the facilities of Spirit in Wichita, Kansas.

On March 4, the US aviation agency (FAA) said “non-conformity issues” had been detected in production controls at Boeing and Spirit Aerosystems.

Peter McNally, analyst of Third Bridge, He said buying Spirit would not be a “quick fix” to Boeing’s problems.

2024-07-07 01:19:00

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