BUSINESS: Spirit AeroSystems Statement Regarding Possible Flawed Parts From MPS

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

by Daniel Webster, dWeb.News Publisher

WICHITA, Kan.–(BUSINESS WIRE)–From March through July 2021, Boeing issued communications to its supply chain including Spirit AeroSystems Holdings, Inc. [NYSE: SPR] , identifying possible flawed parts, dating back to 2017 from Manufacturing Process Specification srl (MPS), based in Italy. Spirit does not purchase parts or services directly through MPS. Boeing had stated in its initial communication that it had revoked MPS’s approval. Spirit took the appropriate actions after receiving information from Boeing that identified parts from sub-tier suppliers who used MPS. Spirit worked closely with Boeing throughout the process and only shipped parts that were approved by Boeing. Spirit remains committed to safety and quality with customers.

On the web: www.spiritaero.com
On Twitter: @SpiritAero

About Spirit AeroSystems Inc.

Spirit AeroSystems is one of the world’s largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. The company is a leader in advanced composite manufacturing and aluminum expertise. Its core products include fuselages and integrated wings, as well as wing components and pylons. Our decades of experience in design and manufacturing allow us to be the most reliable supplier of military aerostructures and other specialty high-temperature material, which allows warfighters to carry out complex, crucial missions. Spirit also provides aftermarket support for commercial and regional jets. Spirit is headquartered in Wichita in Kansas. It also has facilities in the U.S. and U.K., France. Malaysia. 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 can generally be identified by using forward-looking terminology like “aim”, “anticipate,”

, “continue”, “estimate,”” “continue,”,”], “estimate,”,”,”forecast,”,”goal,”,”forecast,”,”goal,”,”goal,”,”expect,”,”goal,”,”goal,”,”forecast,”,”goal,”,”goal,”,”forecast,”,”goal,”,”forecast,”,” or “should,” or “target,” or other words or phrases or the negative of any such words or phrases or phrases or the negative. These statements are based on management’s current views regarding future events. They are subject to both known and unknown risks and uncertainties. Actual results could differ materially from what is anticipated in forward-looking statement. Forward-looking statements should not be relied upon by investors. 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 impact of the COVID-19 pandemic on our business and operations; the timing and conditions surrounding the full worldwide return to service (including receiving the remaining regulatory approvals) of the B737 MAX, future demand for the aircraft, and any residual impacts of the B737 MAX grounding on production rates for the aircraft; our reliance on Boeing for a significant portion of our revenues; our ability to execute our growth strategy, including our ability to complete and integrate acquisitions; our ability to accurately estimate and manage performance, cost, and revenue under our contracts; demand for our products and services and the effect of economic or geopolitical 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; and other factors disclosed in our filings with the Securities and Exchange Commission. These factors are not comprehensive and we cannot predict every factor that could affect actual results. These factors are only current as of the date hereof. New factors or changes could occur to any of the factors that could have an impact on our business. We are not required to publicly update or revise forward-looking statements except as required by law.

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