Spirit AeroSystems
Assembly Line
Spirit AeroSystems Announces Acquisition by Boeing in $8.3 Billion Transaction
Spirit AeroSystems announced it has entered into a definitive merger agreement under which The Boeing Company will acquire Spirit for $37.25 per share in Boeing common stock (subject to the collar described below). At $37.25 per share, this represents an equity value of approximately $4.7 billion and an enterprise value of approximately $8.3 billion including Spirit’s last reported net debt. The price of $37.25 per share represents a 30% premium to Spirit’s closing stock price of $28.60 on February 29, 2024, the day before Spirit and Boeing issued press releases confirming they were in discussions regarding a potential transaction.
Boeing in Talks to Buy Troubled Supplier Spirit AeroSystems
Spirit has hired bankers to explore strategic options and has had preliminary discussions with its former owner, according to people familiar with the matter. The talks might not result in a deal. Spirit is also exploring selling operations in Ireland that make parts for Boeing’s chief rival, Airbus.
A deal would be a strategic reversal. Boeing sold the Wichita plant in a push to focus on final assembly. In recent years, that facility has been plagued by production problems and quality lapses that have slowed production and left the plane maker short of jets it promised to deliver to airlines.
Spirit AeroSystems, Oak Ridge National Laboratory Sign Memorandum of Understanding to Create Strategic Partnership
Spirit AeroSystems, Inc. today announced a strategic agreement with the Oak Ridge National Laboratory Manufacturing Demonstration Facility, which is managed by University of Tennessee Battelle, for the development of applications hypersonic travel and aircraft of tomorrow.
Spirit and Oak Ridge National Laboratory will jointly focus on scalable, efficient manufacturing of advanced material solutions in the commercial, defense and space aerostructure markets. They will collaboratively explore advances in high temperature in-situ process monitoring techniques and predictive modeling capability for microstructure-based performance and certification of carbon and ceramic composites as well as additively manufactured alloys. In addition, research teams will study various processing techniques for materials that can withstand extreme heat and harsh environments, including the scaling up of a thermal protection system for aerospace platforms.
High-rate, automated aerospace RTM line delivers next-gen spoilers
Spirit’s assessment, which included composite and metallic options, agreed with the benchmarks established by Airbus. RTM of epoxy in carbon fiber meets all of the spoiler’s requirements, including — critically — cost. However, it is not production cost, says Pinner, but system cost, which Spirit was able to reduce by 30%. “The RTM solution was most cost effective from raw material to assembly onto the wing,” he says. The winning solution also was weight-neutral.
Back on the tables, as plies are cut, the ABB robot places them on a stacking station at the end of the row of tables. Here, a video camera performs a quick inspection of each ply. The plies are then sorted and kitted according to their end use — skins, spars, ribs — and then spot welded together, activating a binder in the NCF. Complete kits are next moved by the ABB robot to a stacking plate, which is, basically, a steel tray. On this tray is a QR code that specifies the type of kit it holds, whether upper skin, lower skin, spar or rib. The QR code is scanned by the robot, which logs the kit with a manufacturing execution system (MES), the software that drives the entire spoiler production line.
The MES is a product of ThyssenKrupp (Essen, Germany), the systems integrator that provided some of the manufacturing hardware and material handling equipment Spirit uses. Boyd says the software is off-the-shelf from ThyssenKrupp, but it’s been customized for the spoiler production line to provide Industry 4.0 capability. The MES was written not just to track material status and manufacturing progress throughout the plant, but to guide and prompt operator activity through every step — when to move material from point to point, when to load machines, when to unload machines, etc. “We don’t want an operator to make a move here unless the MES says to make a move,” Boyd notes. Moreover, he says, MES provides full data traceability, which allows Spirit to capture and see full M&P information, from the raw material as it comes in the door to the finished spoiler as it goes out the door.