WICHITA, Kan., Jan. 30, 2020 /PRNewswire/ -- Spirit
AeroSystems [NYSE: SPR] announced today that it reached an
agreement with Boeing relating to the 737 MAX production rate.
Under the agreement, Spirit will restart production slowly, ramping
up deliveries throughout the year to reach a total of 216 MAX
shipsets delivered to Boeing in 2020. Spirit does not expect to
achieve a production rate of 52 shipsets per month until late 2022.
The parties are continuing to negotiate other terms.
The rate agreement is based on several assumptions including
Boeing's expected production rate and the successful return of the
737 MAX to service. As previously disclosed, the 737 MAX
contractual agreement is a requirements contract between Boeing and
Spirit and the rate may change at any time.
On the web: www.spiritaero.com
On Twitter: @SpiritAero
About Spirit AeroSystems Inc.
Spirit
AeroSystems designs and builds aerostructures for both commercial
and defense customers. With headquarters in Wichita, Kansas, Spirit operates
sites in the U.S., U.K., France and Malaysia. The company's
core products include fuselages, pylons, nacelles and wing
components for the world's premier
aircraft. Spirit AeroSystems focuses
on affordable, innovative
composite and aluminum manufacturing solutions to support customers
around the globe. More information is available
at www.SpiritAero.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" that
may involve many risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "aim," "anticipate," "believe,"
"could," "continue," "estimate," "expect," "goal," "forecast,"
"intend," "may," "might," "objective," "outlook," "plan,"
"predict," "project," "should," "target," "will," "would," and
other similar words, or phrases, or the negative thereof, unless
the context requires otherwise. These statements reflect
management's current views with respect to future events and are
subject to risks and uncertainties, both known and unknown. Our
actual results may vary materially from those anticipated in
forward-looking statements. We caution investors not to place undue
reliance on any forward-looking statements. Important factors that
could cause actual results to differ materially from those
reflected in such forward-looking statements and that should be
considered in evaluating our outlook include, without limitation,
the timing and conditions surrounding the return to service of the
737 MAX and any related impacts on our production rate; our
reliance on Boeing for a significant portion of our revenues; our
ability to execute our growth strategy, including our ability to
timely complete and integrate our announced Asco and Bombardier
acquisitions; our ability to accurately estimate and manage
performance, cost, and revenue under our contracts; economic
conditions in the industries and markets in which we operate in the
U.S. and globally; our ability to manage our liquidity, borrow
additional funds or refinance debt; the on-going review of our
accounting processes and the potential effect on our financial
statements; and other factors disclosed in our filings with the
Securities and Exchange Commission. These factors are not
exhaustive and it is not possible for us to predict all factors
that could cause actual results to differ materially from those
reflected in our forward-looking statements. These factors speak
only as of the date hereof, and new factors may emerge or changes
to the foregoing factors may occur that could impact our business.
Except to the extent required by law, we undertake no obligation
to, and expressly disclaim any obligation to, publicly update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
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SOURCE Spirit AeroSystems