Boeing to Buy Major Contractor to Improve 737 Max Production Quality
Skift Take
Boeing has agreed to a deal to buy one of its key suppliers. On Monday, it was announced that the plane maker would acquire the majority of Spirit AeroSystems in a multi-billion dollar transaction.
The deal values Spirit — not to be confused with the U.S. low-cost airline — at around $8.3 billion, including the company's debt, and $4.7 billion on a standalone basis.
Bringing Boeing and Spirit AeroSystems together is a ‘back to the future’ moment for the pair. The supplier was part of Boeing until 2005 when it was spun off to a private equity firm. Spirit later went public. In the years that have followed, Spirit has become an important contractor for the U.S. plane maker.
Whispers of a possible deal between the pair have intensified following statements released by the companies in early March.
What has Boeing Said?In a statement, Dave Calhoun, the outgoing President and CEO of Boeing said: “We be
