Reports: British Firm Nears Deal For Tulsa's Spirit Aerosystems Plant


Friday, June 20th 2014, 10:07 am
By: News On 6


News reports have a British firm as the likely buyer of Spirit AeroSystems operations in Tulsa and McAlester.

TheDeal.com says GKN plc is close to purchasing the two facilities.

Spirit AeroSystems announced in August 2013 it was selling everything it owns in Oklahoma. At that time, the company said it employed about 2,700 people in Tulsa and McAlester.

8/6/2013 Related Story: Spirit Aerosystems To Sell Its Tulsa, McAlester Facilities

Market analysts have upgraded Spirit AeroSystems' stock to a buy, citing the possible sale of the company's Oklahoma operations.

TheDeal.com cites an analyst with saying those operations generate upwards of $1 billion in revenue, or about 14% of Spirit's total, of which about $200 million is tied to the Gulfstream programs, which the analyst says is losing money.

Spirit AeroSystems builds the 737 wing components for Boeing in its Tulsa facility. It purchased the Tulsa and McAlester plants from Boeing in 2005.

GKN plc is a British multinational automotive and aerospace components company.