WICHITA, Kan., Sept. 25, 2017 /PRNewswire/ -- Spirit
AeroSystems (NYSE: SPR) announced that it has completed
negotiations and executed definitive agreements with Boeing
resolving commercial issues through 2022 related to production for
several Boeing programs, including the 737 MAX and 787
Dreamliner.
Spirit announced Aug. 2 it had
signed a Memorandum of Understanding with Boeing with the intent to
reach definitive agreements by the end of September. Since then,
teams from Spirit and Boeing have been working cooperatively
through the details to complete the process.
"We are pleased that all definitive documents have been
completed solidifying commercial terms with our largest customer
into 2022," said Spirit President and CEO Tom Gentile. "We can now focus 100 percent of
our time and attention on executing on our existing commitments and
growing our business. This agreement reduces a great deal of
uncertainty, solidifies our relationship with Boeing and positions
us to meet our long-term financial goals."
"The new agreement brings stability for both Boeing and Spirit,
and it locks in on cost reduction and improved efficiencies," said
Kevin Schemm, Boeing Commercial
Airplanes chief financial officer and senior vice president for
Supply Chain Management, Finance and Business Operations. "These
are at the heart of our Partnering for Success efforts."
On the web: www.spiritaero.com/support-services
On Twitter: @SpiritAero
About Spirit AeroSystems
Spirit AeroSystems designs and builds aerostructures for both
commercial and defense customers. With headquarters
in Wichita, Kansas, Spirit
operates sites in the U.S.,
U.K., France and Malaysia. The company's core
products include fuselages, pylons, nacelles and wing components
for the world's premier aircraft. Spirit AeroSystems focuses
on affordable, innovative composite and aluminum
manufacturing solutions to support customers around the globe. More
information is available
at www.spiritaero.com.
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SOURCE Spirit AeroSystems