Arlington (USA): Boeing has announced the acquisition of manufacturing company Spirit Aerosystems. Boeing has announced plans to acquire Spirit Aerosystems for US$4.7 billion in a fully stock transaction. Spirit Aerosystems is already part of the aerospace company’s manufacturing chain. Boeing, based in Arlington, Virginia, announced the purchase in a statement late Sunday night.

According to the aerospace company, the share value of the acquisition at US$37.25 per share works out to US$4.7 billion. The total value of the deal is around US$8.3 billion, which also includes Spirit’s final recorded net debt. Kansas-based Spirit Aerosystems makes key parts for Boeing aircraft. It is one of the world’s largest companies. Boeing President and Chief Executive Officer (CEO) Dave Calhoun said in a statement, “We believe this deal is in the best interest of airlines, our airline customers, Spirit and Boeing employees, our shareholders and the country.” Boeing previously owned the company Boeing has fully acquired Spirit AeroSystems. However, it previously owned Spirit. The company said that bringing the supplier back with Boeing will improve the quality and safety of the aircraft. Spirit President and CEO Patrick Shanahan said, “Bringing Spirit and Boeing together will enable better integration of the manufacturing and engineering capabilities of both companies. This will also include safety and quality systems.