Aerostructures sold for £80 million

Spirit AeroSystems has agreed to acquire the Aerostructures business unit of BAE Systems in a deal worth £80 million.



The Aerostructures unit, which will be known as Spirit AeroSystems (Europe) Limited, produces structural components.



More than 80 percent of BAE Systems Aerostructures’ revenue is earned on Airbus airplanes, including the A320 family, the A330 and the A340. The remainder is from the Boeing 767 and 777, and from the Raytheon Hawker 800XP.



Spirit, based in Wichita, Kansas, says it expects to complete the transaction in the first half of 2006. Completion is subject to certain conditions, including the receipt of required regulatory approvals.