WICHITA, Kan., Nov. 14 /CNW/ -- Spirit AeroSystems Holdings, Inc. (NYSE:
SPR) and Progresstech LTD of Moscow, Russia, today announced they have signed
an agreement to enter a joint venture. The new company will be known as
Spirit-Progresstech LLC. Initial work to be performed is engineering
consulting services. The Spirit-Progresstech LLC Branch Office will be located
"Our partnership is mutually beneficial to both companies, in growing our
business and supporting our customers around the world," said Spirit President
and CEO Jeff Turner. "For Spirit, it will bring access to engineering talent
and developing technologies."
"We are excited about the prospects that this venture opens up for our
company," said Progresstech Chairman of the Board Vladimir Kulchitsky. "Spirit
AeroSystems has worked with Progresstech for several years and this joint
venture is a continuation of that teamwork and success. We will be able to
expand global presence and realize new opportunities."
Spirit AeroSystems is the world's largest independent supplier of
structures for commercial aircraft. Spirit designs and builds commercial
aircraft components and assemblies, and designs and builds aircraft production
tooling. In addition, the company does work in military and general aviation.
Progresstech Group of Companies was founded on Jan. 3, 1991, and has
grown from a small firm specializing in engineering services, research
studies, and airfield construction into an up-to-date multi-profile company.
JV partner Progresstech LTD, a member of Progresstech Group of Companies, is
one of the largest engineering services suppliers in Eastern Europe.
On the Net: http://www.spiritaero.com
For further information:
For further information: Debbie Gann of Spirit AeroSystems,
+1-316-519-7340; or Ekaterina N. Vasilieva of Progresstech, +1-495-632-2685,
cell, +7-917 550-3483 Web Site: http://www.spiritaero.com