Benzinga | Apr 27, 2021 02:16PM EDT

Spirit AeroSystems Signs Joint Venture Agreement With Evergreen Aviation Technology Corporation To Serve Asia-Pacific Aftermarket Customers

Spirit AeroSystems (NYSE:SPR) announced today a planned expansion of its aftermarket presence in the Asia-Pacific region by signing a joint venture agreement with Evergreen Aviation Technologies Corporation (EGAT). The new agreement is expected to complement Spirit's recent acquisition of Applied Aerodynamics and last year's acquisition of select Bombardier assets, and further strengthen its global maintenance, repair and overhaul (MRO) capabilities. Under the joint venture agreement, Spirit and EGAT will form a new company, Spirit Evergreen Aftermarket Solutions (SEAS), and will transfer repair capabilities to SEAS, increasing manufacturing expertise and services to meet growing fleet demands in the region.