Airbus to Acquire Spirit AeroSystems' Industrial Assets
Per the agreement, Airbus will take ownership of the following Spirit AeroSystems assets:
The site of Kinston, North Carolina, U.S. (A350 fuselage sections)
The site of St. Nazaire, France (A350 fuselage sections)
The site of Casablanca, Morocco (A321 and A220 components)
The production of A220 pylons in Wichita, Kansas
The production of A220 wings in Belfast, Northern Ireland
The production of the A220 mid-fuselage in Belfast, Northern Ireland, unless Spirit AeroSystems identifies a suitable buyer for the part of the site where these activities are located
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Airbus will also acquire the production of wing components for A320 and A350 in Prestwick, Scotland.
Spirit AeroSystems intends to sell the site of Subang, Malaysia to a third-party owner.
The compensation amount has been adjusted to reflect this revised transaction perimeter, in line with the provisions of the binding term sheet agreement announced on July 1 2024. Airbus will be compensated by payment of $439 million from Spirit AeroSystems, subject to certain adjustments at closing.
The conditions and financial impact of this agreement are in line with the EBIT Adjusted and Free Cash Flow before Customer Financing preliminary estimates included in Airbus' 2025 guidance, as issued on February 20 2025.
With this operation, Airbus aims to ensure stability of supply for its commercial aircraft programs through a more sustainable way forward, both operationally and financially, for key Airbus work packages.
The companies expect the closing of the transaction and the official transfer of operations to take place in the third quarter of 2025, subject to regulatory and other customary approvals.
Airbus has also entered into a memorandum of agreement with Spirit AeroSystems, under which Airbus has agreed to, among other things, provide Spirit AeroSystems non-interest bearing lines of credit in an aggregate amount of $200 million, which will be used by Spirit AeroSystems to support Airbus programs.
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