Aerospace company Spirit AeroSystems has signed a memorandum of agreement (MOA) with Boeing. The agreement includes pricing terms for programs including the Boeing Next Generation 737, 737 MAX, 767, 777 freighters and 777-9, the 787 Dreamliner; Boeing 737 pricing based on production rates above and below current production levels; investments for tooling and capital for certain Boeing 737 rate increases; joint cost reduction programs for the Boeing 777X and 787 Dreamliner; Boeing's consent to Spirit’s acquisition of SRIF NV; and the parent company of Asco Industries.

‘This agreement further strengthens the long-standing partnership between Boeing and Spirit as it removes uncertainty well into the next decade,’ said Spirit president and CEO Tom Gentile. ‘With this agreement, we maintain our target of 7 to 9% conversion of revenue to free cash flow.’

This story is reprinted from material from Spiritwith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.