WICHITA, Kan., Sept. 8 /CNW/ -- Spirit AeroSystems, Inc. (NYSE: SPR)
announced today that the company is taking immediate action to reduce
production volumes on certain Boeing products as a result of the International
Association of Machinists (IAM) strike at The Boeing Company. Spirit will
implement a revised production and delivery schedule utilizing a reduced work
week for employees who support, manufacture and assemble the affected
"We are working closely with our customer and taking the necessary steps
as we respond to an unfortunate situation," said President and Chief Executive
Officer Jeff Turner.
Spirit successfully managed through a prior IAM strike at Boeing in
September 2005 using a shortened work week instead of stopping production and
"Our experience shows this approach is a prudent solution for all
stakeholders," Turner said. "Today, Spirit is a financially stronger and a
more diversified company than we were in 2005. As such, we will continue our
normal efforts on certain Boeing products, as well as products for new
customers including Airbus, Cessna, Gulfstream, Rolls Royce, Hawker Beechcraft
Spirit's previous 2008 financial guidance, provided on July 31, 2008, is
being withdrawn as a result of the labor strike at its largest customer.
Spirit will update its 2008 financial guidance and provide 2009 financial
guidance when practical, after the IAM strike at The Boeing Company has ended.
For further information:
For further information: Philip Anderson, Investor Relations,
+1-316-523-1797, or Debbie Gann, Corporate Communications, +1-316-526-3910,
both for Spirit AeroSystems, Inc. Web Site: http://www.spiritaero.com