Spirit Aerosystems To Offer Employees Stock Before IPO

Thursday, November 9th 2006, 9:55 am
By: News On 6

WICHITA, Kan. (AP) _ Spirit AeroSystems is planning to offer common stock to eligible employees ahead of a planned initial public offering.

The Wichita-based company, which separated from Boeing last year, filed with the Securities and Exchange Commission in June for an IPO.

Spirit executives say about 6,500 employees at plants in Wichita and Oklahoma are eligible to buy between 50 and 400 shares of the stock.

Employees eligible for the plan include managerial and salaried employees and those represented by the Society of Professional Engineering Employees in Aerospace.

Some workers represented by the Machinists, International Brotherhood of Electrical Workers and the UAW may also participate.