Orizon Aerostructures Acquires Spirit AeroSystems (SPR) Chanute Facility

September 30, 2016 12:58 PM EDT

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Orizon Aerostructures announced they have acquired the Spirit AeroSystems (NYSE: SPR) facility in Chanute, Kan., effective Sept. 30, 2016.

"This acquisition jump starts our plans to build major complex assemblies for the commercial aerospace industry and renews our long standing relationship with Spirit AeroSystems," said Charlie Newell, CEO of Orizon.

As a part of the agreement, the current statement of work from the Spirit facility and 35 associates will transition to the new Orizon Chanute location before year-end 2016. Additionally, the transaction includes a long-term agreement to manufacture and assemble additional substantial statements of work.

Scott Underwood, COO-Orizon and General Manager Orizon Chanute will have responsibility for operating and consolidating the two facilities.

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