WICHITA,
Kan., June 21, 2023 /PRNewswire/ -- In light of
the decision to strike by Spirit AeroSystems employees represented
by the International Association of Machinists and Aerospace
Workers today, Spirit will suspend factory production prior to the
expiration of the contract. Beginning with the start of first shift
on Thursday, June 22, all
IAM-represented employees are not to report for work but will
receive pay for their regularly scheduled work hours. All
scheduled overtime is canceled.
All employees not represented by the IAM should report to work
as usual on Thursday.
We are disappointed that our employees represented by the IAM
rejected our four-year contract offer and voted to strike. We
believe that our fair and competitive offer recognizes the
contributions of our employees and ensures we can successfully meet
increasing demand for aircraft from our customers.
We know that no one wins in a work stoppage; however, we respect
the rights of our represented employees. Despite this setback, we
are not distracted from the task at hand. We look forward to
continued meetings with IAM leadership.
Spirit AeroSystems, Inc. ("Spirit") is a subsidiary of Spirit
AeroSystems Holdings, Inc. [NYSE: SPR] ("Spirit AeroSystems").
On the web: www.spiritaero.com
On Twitter: @SpiritAero
About Spirit AeroSystems Inc.
Spirit
AeroSystems is one of the world's largest manufacturers of
aerostructures for commercial airplanes, defense platforms, and
business/regional jets. With expertise in aluminum and advanced
composite manufacturing solutions, the company's core products
include fuselages, integrated wings and wing components, pylons,
and nacelles. We are leveraging decades of design and manufacturing
expertise to be the most innovative and reliable supplier of
military aerostructures, and specialty high-temperature materials,
enabling warfighters to execute complex, critical missions.
Spirit also serves the aftermarket for commercial and
business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the
U.S., U.K., France, Malaysia and Morocco. More information is available
at www.spiritaero.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains
"forward-looking statements" that may involve many risks and
uncertainties. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as "aim,"
"anticipate," "believe," "could," "continue," "estimate," "expect,"
"goal," "forecast," "intend," "may," "might," "objective,"
"outlook," "plan," "predict," "project," "should," "target,"
"will," "would," and other similar words, or phrases, or the
negative thereof, unless the context requires otherwise. These
statements reflect management's current views with respect to
future events and are subject to risks and uncertainties, both
known and unknown. Our actual results may vary materially from
those anticipated in forward-looking statements. We caution
investors not to place undue reliance on any forward-looking
statements. Important factors that could cause actual results to
differ materially from those reflected in such forward-looking
statements and that should be considered in evaluating our outlook
include, without limitation, the impact of the COVID-19 pandemic on
our business and operations; the timing and conditions surrounding
the full worldwide return to service (including receiving the
remaining regulatory approvals) of the B737 MAX, future demand for
the aircraft, and any residual impacts of the B737 MAX grounding on
production rates for the aircraft; our reliance on Boeing for a
significant portion of our revenues; our ability to execute our
growth strategy, including our ability to complete and integrate
acquisitions; our ability to accurately estimate and manage
performance, cost, and revenue under our contracts; demand for our
products and services and the effect of economic or geopolitical
conditions in the industries and markets in which we operate in the
U.S. and globally; our ability to manage our liquidity, borrow
additional funds or refinance debt; and other factors disclosed in
our filings with the Securities and Exchange Commission. These
factors are not exhaustive and it is not possible for us to predict
all factors that could cause actual results to differ materially
from those reflected in our forward-looking statements. These
factors speak only as of the date hereof, and new factors may
emerge or changes to the foregoing factors may occur that could
impact our business. Except to the extent required by law, we
undertake no obligation to, and expressly disclaim any obligation
to, publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
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SOURCE Spirit AeroSystems, Inc.