On October 30, Spirit AeroSystems announced the completion of the acquisition of Bombardier’s aerospace structural components and after-sales business assets in Belfast, Ireland, Casablanca, Morocco, and Dallas, USA. According to the announcement issued on October 26, the original terms of the agreement have been re-adjusted due to the impact of the Coronavirus (COVID-19) epidemic.
"This acquisition is of very important strategic significance, and now it has finally come to a successful conclusion. We are very excited," said Tom Gentile, President and CEO of Spirit AeroSystems. "This acquisition is in line with the company's strategic development goals. This enabled the company to acquire more abundant engineering experience, advanced composite material products and innovative technologies. After the acquisition, Spirit AeroSystems has mastered all the production processes and technologies of the Airbus A200 wing work package, and the company participates in the research and development of future models. It is of great significance to further improve after-sales capabilities."
The three Bombardier plants acquired this time occupy a total area of approximately 3.4 million square feet, have 3,300 employees, and have signed long-term procurement contracts for Airbus A200 and Bombardier business jets. Among them, the Belfast plant in Ireland produces carbon fiber composite wings for the Airbus A220 single-aisle airliner.
In this acquisition, Spirit AeroSystems will directly pay Bombardier US$275 million and assume the corresponding debts of the latter. The entire acquisition is valued at approximately US$865 million.