Kansas

mahatmakanejeeves

(61,539 posts) Sat Oct 27, 2018, 02:30 PM Oct 2018

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

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

BY JERRY SIEBENMARK
jsiebenmark@wichitaeagle.com

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

3 replies

= new reply since forum marked as read

Highlight:

Wichita's biggest employer just put the brakes on a $650 million acquisition (Original Post) mahatmakanejeeves Oct 2018 OP

Explains Boeing sell off Wellstone ruled Oct 2018 #1

Perhaps it has to do with obvious voter suppression. nt NCjack Oct 2018 #2

Turner went over board when boeing wichita became spirit aerosystems.. Maxheader Oct 2018 #3

Wellstone ruled

(34,661 posts)

1. Explains Boeing sell off

Reply to mahatmakanejeeves (Original post)

Sat Oct 27, 2018, 02:49 PM

Oct 2018

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

(10,297 posts)

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

Reply to mahatmakanejeeves (Original post)

Sat Oct 27, 2018, 03:01 PM

Oct 2018

Maxheader

(4,399 posts)

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

Reply to mahatmakanejeeves (Original post)

Sun Oct 28, 2018, 07:52 AM

Oct 2018

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.

Reply to this discussion