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SPIRIT AEROSYSTEMS HOLDINGS, INC.

(SPR)
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Aero supplier Spirit says it took action over parts obtained indirectly from MPS

10/15/2021 | 03:08pm EST
FILE PHOTO: The headquarters of Spirit AeroSystems Holdings Inc, is seen in Wichita

(Reuters) - Spirit AeroSystems said on Friday it did not buy parts directly from an Italian sub-contractor under scrutiny over flawed parts on Boeing's 787 Dreamliner, but had taken action over parts Spirit had purchased indirectly.

On Thursday, Boeing said some 787 Dreamliner parts were improperly made over the past three years. They were supplied by Manufacturing Process Specification (MPS), as a sub-contractor to Italy's Leonardo.

Reuters on Thursday reported that Boeing had also contacted aerostructures maker Spirit in March to warn it not to use parts supplied by MPS.

On Friday, Spirit said that from March through July, Boeing had issued communications to its supply chain, including Spirit, identifying possible flawed parts dating back to 2017.

"Upon receipt of information from Boeing identifying parts from sub-tier suppliers which used MPS, Spirit took appropriate action," the company said in an emailed statement.

In its March warning, Boeing asked Spirit to use alternative suppliers as it continued an audit of MPS, according to a letter seen by Reuters.

The planemaker had also asked Wichita-based Spirit to trace any MPS parts it had used back to 2017 and to treat them as "suspect nonconforming," meaning they would be subject to further checks.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2021
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Financials (USD)
Sales 2021 3 952 M - -
Net income 2021 -455 M - -
Net Debt 2021 2 298 M - -
P/E ratio 2021 -9,05x
Yield 2021 0,10%
Capitalization 4 105 M 4 105 M -
EV / Sales 2021 1,62x
EV / Sales 2022 1,27x
Nbr of Employees 14 500
Free-Float 70,9%
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Number of Analysts 16
Last Close Price 39,08 $
Average target price 56,21 $
Spread / Average Target 43,8%
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Managers and Directors
Thomas C. Gentile President, Chief Executive Officer & Director
Mark J. Suchinski Chief Financial Officer & Senior Vice President
Robert D. Johnson Chairman
Kevin Matthies Chief Technology & Quality Officer, Senior VP
Samantha J. Marnick Chief Operating Officer & Executive Vice President
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