Boeing (BA) said Monday it closed its $4.7 billion takeover of Spirit AeroSystems (SPR), reacquiring most of the world’s largest independent wing and fuselage maker.
Boeing’s (BA) acquisition includes all of Spirit’s (SPR) Boeing-related commercial operations, including fuselages for the 737 program and major structures for the 767, 777 and 787 Dreamliner, as well as commercially procured fuselages for the P-8 and KC-46; the transaction also brings Boeing’s largest supplier of spare parts in house while expanding the company’s global maintenance, repair and overhaul services footprint.
The acquisition also parts of Spirit AeroSystems’ (SPR) operations in Northern Ireland, and the site in Belfast will operate as an independent subsidiary branded as Short Brothers.
Spirit (SPR) was created in 2005, when Boeing (BA) sold its operations in Oklahoma and Kansas to the investment firm Onex, and in an effort to expand its customer base beyond Boeing, Spirit bought or opened facilities in Africa, Asia, Europe, and elsewhere in the U.S.
Earlier this month, the Federal Trade Commission said the acquisition could proceed as long as Boeing (BA) carried out divestments negotiated earlier this year with Airbus and Composites Technology Research Malaysia, and if Spirit remained a supplier for Boeing’s competitors for future military aircraft programs.