SPIRIT AEROSYSTEMS COMPLETES PURCHASE OF BAE SYSTEMS AEROSTRUCTURES UNIT.(Company overview)

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WICHITA, Kansas, April 1 /PRNewswire-AsiaNet/ --

Spirit AeroSystems, Inc., today announced that it has completed the purchase of BAE Systems Aerostructures business unit located in Prestwick, Scotland, and Samlesbury, England. Spirit paid pounds sterling 80 million for the business, which has been renamed Spirit AeroSystems (Europe) Limited. The sale was announced in January.

"We are delighted to officially welcome the newest members of the Spirit AeroSystems team," said Executive Vice President and Chief Operating Officer Ron Brunton. "We look forward to building on the excellent foundation for quality and the reputation of delivering unique solutions to customers that our newest aerostructures business unit has established in the industry."

Spirit AeroSystems (Europe) Limited produces structural components, chiefly on wings, similar to that in Spirit's business unit in Tulsa, Oklahoma, but on different airplane programs. More than 80 percent of the European unit's revenue is earned on Airbus airplanes, including the A320 family, the A330 and A340, and the A380. The remainder is from the Boeing 767 and 777, and from the Raytheon Hawker 800XP.

"Joining the Spirit AeroSystems team marks a new and exciting phase in the development of our business," said Neil McManus, Vice President and Managing Director, Spirit AeroSystems (Europe) Limited. "We must ...