Boeing closed its US$4.7 billion acquisition of Spirit AeroSystems, taking over the supplier’s Boeing-related commercial operations and portions of its Belfast facilities. Airbus said it has completed the purchase of Spirit units tied to its programs and confirmed that facilities in Subang, Malaysia, were transferred to Composites Technology Research Malaysia. Spirit’s Fiber Materials subsidiary had been sold earlier in the year to Tex-Tech Industries.
Boeing said the Belfast operations it acquired will operate “as an independent subsidiary branded as Short Brothers.” Airbus said it will assume responsibility for operations in North Carolina, Northern Ireland, Scotland, France, and Morocco. The company added that it will receive “US$439 million in compensation as part of the transaction.”
The combined value of the broader breakup and sale process, announced in July of last year, was US$8.3 billion. The transactions give both planemakers direct control over production segments tied to delays in Boeing’s 737 MAX program and Airbus’ A350 and A220 programs. Boeing said reducing quality problems in 737 fuselages “has been a key focus” as it works to stabilize production. Both manufacturers have provided financial support to Spirit in recent years.
Spirit was created in 2005 when Boeing sold its Kansas and Oklahoma operations to Onex. The company’s 737 fuselages are built in Wichita and shipped by rail to Boeing’s Renton, Washington, assembly plant. Spirit later expanded into Africa, Asia, Europe, and additional US sites to diversify its customer base.
In early December, the Federal Trade Commission approved the Boeing transaction with conditions, stating it would allow the deal to proceed “as long as Boeing carried out the divestments negotiated earlier this year” and ensured Spirit remained a supplier for competitors in future military aircraft programs. The agency warned that without these measures, Boeing could gain “unfair influence over competition.” The European Commission approved the deal in October after Boeing agreed to sell specific Spirit assets to address competition concerns.
About 15,000 Spirit employees will join Boeing. The transition may affect labor dynamics if roughly 6,000 members of the International Association of Machinists and Aerospace Workers at Spirit rejoin District 751—the bargaining unit they left when Boeing divested the operations in 2005. Boeing production was halted for seven weeks last year during a District 751 strike in the Pacific Northwest.
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