Spirit AeroSystems
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Spirit AeroSystems

Company nameSpirit AeroSystems, Inc.
Company typePublic (NYSE - SPR)
Foundation1927 (in 2005, company took on current name)
LocationWichita, Kansas, USA
Key peopleJeff Turner, CEO
Employees11,845 (12/31/2006)
IndustryAerospace and defense
ProductsAerostructures&
Space systems
Revenue$3.28 Billion year end (12/31/2006)
Homepagewww.spiritaero.com

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Spirit AeroSystems, Inc. ("Spirit" NYSE - SPR), based in Wichita, Kansas, is the world's largest first-tier aerostructures manufacturer. The company builds several important pieces of Boeing aircraft, including the fuselage of the 737, portions of the 787 fuselage, and the cockpit (referred to as "Section 41" by Boeing) of nearly all of its airliners. Spirit's main competition comes from Vought Aircraft Industries, Goodrich, Alenia, and Kawasaki Heavy Industries.
Spirit was formed when Boeing Commercial Airplanes sold its Wichita division to investment firm Onex. Boeing Integrated Defense Systems retained its military business in Wichita, which lies on neighboring land. The Wichita division was responsible for construction of many important aircraft in Boeing's history, including the B-29 Superfortress, B-47 Stratojet, and B-52 Stratofortress. Spirit can trace its legacy back even further to Stearman Aircraft, which was founded on the same site. Stearman later became part of Boeing. Spirit also includes North American Aviation's former Tulsa and McAlester facilities (both in Oklahoma.)
On January 31, 2006, BAE Systems announced it had agreed to sell its aerostructures business, based at Glasgow Prestwick Airport and Samlesbury Aerodrome, to Spirit. The BAE unit, which was renamed Spirit AeroSystems (Europe) Ltd., is a major supplier to Raytheon (5%), Airbus (80%), and Boeing (15%). The transaction was completed on April 1, 2006. With this purchase, Spirit is no longer critically dependent upon a single customer for business.
After planning to take Spirit public, at initial public offering on November 21, 2006, the firm's stock rose 10% on the first day. Onex still owns 58% of Spirit, which results in 92% of voting power, as its shares confer "supervoting" power.
Former House Majority Leader Richard Gephardt (D-MO) serves as a labor consultant for Spirit and sits on its board of directors.

Latest News : Spirit AeroSystems : Tweet this RSS

Time spent with my head in the clouds - New Bern Sun Journal Tweet this news
New Bern Sun Journal---...- which is strategically placed between Cherry Point air station and Fleet Readiness Center East in Havelock, and -Spirit Aerosystems- in Kinston. ... - Date : Sun, 23 May 2010 04:23:34 GMT+00:00
Calls Purchased on Spirit Aerosystems (SPR) - Benzinga Tweet this news
Benzinga--Shares of -Spirit Aerosystems- Holdings Inc. (NYSE: SPR) are falling sharply today, currently lower by 8.70% to $18.93. The stock is still in a technical ... - Date : Thu, 20 May 2010 17:11:55 GMT+00:00
Shares of Spirit Aerosystems Holdings Under Pressure, Down 10% (SPR) - Comtex Smartrend Tweet this news
Comtex Smartrend---Spirit Aerosystems- Holdings (NYSE:SPR) is one of today's notable stocks in decline, down 10% to $19.02. The S&P is currently trading 0.8% ... - Date : Fri, 21 May 2010 16:11:12 GMT+00:00
Work pays off for EvCC students - HeraldNet Tweet this news
HeraldNet--Recently, Boeing supplier -Spirit AeroSystems- donated a portion of a 787 composite fuselage barrel. “We've got a lot of stuff coming with composites,” said ... - Date : Sun, 23 May 2010 07:07:19 GMT+00:00



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