Textron close to buying Spirit Aero fuselage program for V-280 military aircraft, source says
By Allison Lampert
FARNBOROUGH, England, July 24 (Reuters) -Textron TXT.N is close to acquiring the fuselage-making program for its V-280 military aircraft from Spirit AeroSystems SPR.N, according to a source familiar with the matter, in the latest carve-out from Boeing's BA.N recent deal to acquire the Kansas-based supplier.
Boeing announced this month it would buy the world's largest standalone aerostructures company in a $4.7 billion all-stock deal.
Spirit's assets are to be broken up, with European planemaker Airbus AIR.PA taking over core activities at four plants.
In a separate defense carve out, the maker of Bell helicopters would buy Spirit's work package for the V-280 Valor, a tiltrotor aircraft that was selected in 2022 for the U.S. Army's future long-range assault aircraft program, the source said on condition of anonymity because the information is confidential. The value of the deal was not clear.
A tiltrotor is a type of aircraft designed to take off like a helicopter and rotate its propellers to fly like a plane. The V-280 will replace the Black Hawk utility helicopter.
The first batch of V-280s in low-rate production will be worth $7.1 billion, the U.S. Army said in 2022, but it added the contract was potentially worth around $70 billion over decades depending on how many the Army and U.S. allies order.
Concerned over the possible break up of Spirit's defense work, Republican U.S. Senator Jerry Moran of Kansas said this week he had pressed CEOs of major defense companies, including Textron, to ensure that work performed in Wichita would not be disrupted by Boeing's deal. Moran said he wanted to make sure that the work would continue in Kansas.
A Textron spokesperson declined comment. Boeing on Wednesday referred queries to Spirit.
Spirit spokesperson Joe Buccino said his company has had a successful 10-year partnership with Bell on the V-280 program and would continue to work with it to deliver on their joint commitments.
Reporting by Allison Lampert in Farnborough, England; Editing by Jamie Freed
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