Wichita's biggest employer just put the brakes on a $650 million acquisition

[mahatmakanejeeves]

Wichita’s biggest employer just put the brakes on a $650 million acquisition

BY JERRY SIEBENMARK
[e-mail]

October 26, 2018 09:57 AM
Updated October 26, 2018 04:40 PM

Spirit AeroSystems is putting on hold a $650 million deal that would give it more work on military aircraft and commercial jetliners.

Wichita’s largest employer said Friday it is postponing the deal to acquire the parent company of Asco Industries in Belgium because of issues identified during a review of the acquisition by the European Commission.

Spirit didn’t specify what the issues are. Analysts could press the company for more details when Spirit hosts a conference call next Wednesday to discuss its third quarter 2018 earnings.
....

Jerry Siebenmark: 316-268-6576, @jsiebenmark

[Wellstone ruled]

1. Explains Boeing sell off

Funny how moving good paying jobs to a Right to Work for less state bites you in the ass when quality and performance issues pop up.

[NCjack]

2. Perhaps it has to do with obvious voter suppression. nt

[Maxheader]

3. Turner went over board when boeing wichita became spirit aerosystems..

He bought a ton of new facilities around the world. But
due to inaccurate estimates on work packages, and
late delivery of said packages...they lost a ton of $$$.
This acquisition may help them with the shortages of
fabrication people and equipment.