Profile: Spirit Aerosystems Holdings, Inc. (SPR)

Spirit AeroSystems Holdings, Inc. (Holdings), incorporated on February, 07, 2005, is an independent non-aircraft original equipment manufacturer parts designer and manufacturer of commercial aerostructures. The Company is also an independent supplier to The Boeing Company (Boeing) and Airbus S.A.S. (Airbus). The Company manufactures aerostructures for every Boeing commercial aircraft in production, including the majority of the airframe content for the Boeing B737. Holdings provides manufacturing and design expertise in a range of products and services for aircraft original equipment manufacturers and operators through its subsidiary, Spirit AeroSystems, Inc (Spirit). The segments of the Company include Fuselage Systems, Propulsion Systems and Wing Systems. In April 2008, Spirit entered into a joint venture with Hong Kong Aircraft Engineering Company Limited (HAECO), and its subsidiary, Taikoo Aircraft Engineering Company Limited (TAECO), Cathay Pacific Airways Limited, and Cal-Asia to develop and implement a composite and metal bond component repair station in the Asia-Pacific region. The service center is called Taikoo Spirit AeroSystems Composite Co. Ltd.

Fuselage Systems include the forward, mid, and rear fuselage sections. It includes development, production and marketing of forward, mid and rear fuselage sections and systems, primarily to aircraft original equipment manufacturer (OEMs), as well as related spares and maintenance, repair and overhaul (MRO) services. The Propulsion Systems include nacelles, struts/pylons and engine structural components. The Wing Systems segment includes development, production and marketing of wings and wing components (including flight control surfaces), as well as other miscellaneous structural parts primarily to aircraft OEMs, as well as related spares and MRO services. The Wing Systems include facilities in Tulsa and McAlester, Oklahoma and Prestwick, Scotland that manufacture wings, wing components, flight control surfaces, and other miscellaneous structural parts. All other activities fall within the all other segment, principally made up of sundry sales of miscellaneous services and sales of natural gas through a tenancy-in-common with other Wichita companies. During the year ended December 31, 2008, Fuselage Systems, Propulsion Systems, Wing Systems and All Other represented approximately 47%, 27%, 25% and 1%, respectively, of the Company’s revenues.

Holdings design, engineer and manufacture commercial aircraft structures such as fuselages, nacelles (including thrust reversers), struts/pylons, wings and wing assemblies and flight control surfaces. The products in the Fuselage Systems include Forward Fuselage and other Fuselage sections. The products in the Propulsion Systems segment include Nacelles and Struts/Pylons. The Wings Systems segment consists of Flight Control Surfaces, Empennages and Wing Structures. In addition to providing aero structures for commercial aircraft, the Company also designs, engineers and manufactures structural components for military aircraft. Other military programs for which the Company provide products are KC-135, V-22 and the development of the CH-53K. The Company’s aftermarket products and services include Spares; Maintenance, Repair and Overhaul, and Rotable assets.

The Company competes with Airbus S.A.S., Boeing, Dassault Aviation, Embraer Brazilian Aviation Co., Gulfstream Aerospace Co., Lockheed Martin Corp., Northrop Grumman Corporation, Hawker Beechcraft Company, Textron Inc., Alenia Aeronautica, Fuji Heavy Industries, Ltd., GKN Aerospace, The Goodrich Corporation, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Saab AB, Snecma, Triumph Group, Inc., NORDAM Aircelle S.A. and Vought Aircraft Industries.