Boeing reacquires struggling supplier Spirit AeroSystems
What changes will the acquisition bring to Boeing's manufacturing operations?
The acquisition of Spirit AeroSystems will provide Boeing greater oversight and control of manufacturing operations, allowing for better integration of both companies' manufacturing and engineering capabilities, including safety and quality systems6. This is aimed at improving aircraft production and reinforcing aviation safety.
What role did Spirit CEO Patrick Shanahan previously have at Boeing?
Patrick Shanahan, the interim President and CEO of Spirit AeroSystems, previously served as the 33rd Deputy Secretary of Defense at Boeing1. He held various leadership roles at the company, including Senior Vice President, Supply Chain and Operations, Senior Vice President, Commercial Airplane Programs, Vice President and General Manager of the 787 Dreamliner, Vice President and General Manager of Boeing Missile Defense Systems, and Vice President and General Manager of Boeing Rotorcraft Systems1.
How much is the all-stock transaction valued at?
The all-stock transaction is valued at $4.7 billion, with the total transaction value being approximately $8.3 billion, including Spirit's last reported net debt1.