|Traded as||NYSE: SPR|
|Industry||Aerospace and defense|
|Founded||1927 (in 2005, company took on current name)|
|Headquarters||Wichita, Kansas, USA|
|Key people||Larry Lawson, CEO
Duane Hawkins, COO
Sanjay Kapoor, CFO
|Revenue||$5.398 Billion year end (12/31/2012)|
Spirit AeroSystems, Inc. ("Spirit"), based in Wichita, Kansas, is the world's largest first-tier aerostructures manufacturer. The company builds several important pieces of Boeing aircraft, including the fuselage of the 737, portions of the 787 fuselage, and the cockpit (referred to as "Section 41" by Boeing) of nearly all of its airliners. Spirit also produces fuselage sections and front wing spars for the Airbus A350. Spirit's main competition comes from Vought Aircraft Industries, Goodrich, Alenia, and Kawasaki Heavy Industries.
Spirit was formed when Boeing Commercial Airplanes sold its Wichita division to investment firm Onex. Boeing Defense, Space & Security retained its military business in Wichita, which lies on neighboring land. The Wichita division was responsible for construction of many important aircraft in Boeing's history, including the B-29 Superfortress, B-47 Stratojet, and B-52 Stratofortress. Spirit can trace its legacy back even further to Stearman Aircraft, which was founded on the same site; Stearman later became part of Boeing. Spirit also includes North American Aviation's former Tulsa and McAlester facilities (both in Oklahoma.)
On Aug 8, 2005, Spirit AeroSystems announced that Ulrich R. (Rick) Schmidt had joined the company as Executive Vice President and Chief Financial Officer, reporting to Jeffrey Turner, President and CEO.
On January 31, 2006, BAE Systems announced it had agreed to sell its aerostructures business, based at Glasgow Prestwick Airport and Samlesbury Aerodrome, to Spirit. The BAE unit, which was renamed Spirit AeroSystems (Europe) Ltd., is a major supplier to Raytheon (5%), Airbus (80%), and Boeing (15%). The transaction was completed on April 1, 2006. Spirit paid pounds sterling 80 million for the business.
In 2010, 96% of Spirit's revenue came from its two largest customers: 85% of sales were from Boeing, 11% from Airbus. In 2009 these two customers represented 96% of sales for Spirit as well.
After planning to take Spirit public, at initial public offering on November 21, 2006, the firm's stock rose 10% on the first day. Onex still owns 58% of Spirit, which results in 92% of voting power, as its shares confer "supervoting" power. The chief architect of the Onex purchase of Spirit was Nigel S. Wright, who was later Chief of Staff for the Canadian Prime Minister until his resignation as part of an expense scandal.
In July 2011, Spirit AeroSystems walked out of negotiations with the union that represents its technical and professional workforce. The union subsequently voted on the company's last contract offer, receiving a 96.5% rejection vote. The company did not change its contract offer significantly after this rejection and relations with its workforce have been contentious ever since. Hostile labor relations threaten production schedules. Spirit AeroSystems has been continually plagued by attrition problems in its engineering and technical ranks. Most observers blame this attrition on the management culture within the company.Employees Review Spirit Aerosystems In 2013, the company began a series of mass terminations which the engineering labor union claims violate their contract and Spirit's own policies. SPEEA Protests FiringsSPEEA-Legal-Action-Against-Spirit-On-The-TableFormer Spirit employee: I was just walked out the door.
- Wichita, Kansas (Headquarters, ex-Stearman/Boeing)
- McAlester, Oklahoma (ex-North American/Rockwell/Boeing)
- Tulsa, Oklahoma (ex-North American/Rockwell/Boeing)
- Samlesbury, England, United Kingdom (Small office based on a BAE Systems site)
- Prestwick, Scotland, United Kingdom (ex-BAE Systems)
- Subang, Malaysia (Manufacturing Plant)
- Kinston, North Carolina (Manufacturing Plant, Global TransPark)
- Jinjiang City, China (Joint Venture)
- Saint Nazaire, France (Manufacturing Plant)
- Moscow, Russia (Joint Venture)
- Nashville, Tennessee (Engineering Design Center)
- "Spirit AeroSystems - from cornfields to A350s". Flight Global. 2010. Retrieved 2010-07-18.
- "Onex' Spirit AeroSystems To Acquire BAE Systems Aerostructures." Official press release.
- "Spirit AeroSystems Completes Purchase of BAE Systems Aerostructures Unit".
- "Spirit AeroSystems Planning Initial Public Offering." The Wall Street Journal. June 30, 2006.
- "UPDATE: Spirit Aero, AerCap Lift Off Post-IPO >SPR AER." The Wall Street Journal. November 21, 2006.
- "Richard A. Gephardt Joins Onex Team", Spirit Aero news release 2005-04-29 (PDF)
- SPEEA, SPEEA
- SPEEA Members Reject Spirit Contract Offer, Wichita Eagle
- Work To Rule At Spirit Disputed , Wichita Business Journal
- Official website
- "Spirit gets first shot at non-Boeing job", Wichita Business Journal, October 16, 2005