Spirit, Progresstech To Sell JV

Spirit AeroSystems (Spirit) and the Progresstech Group of Companies of Moscow, Russian Federation, have announced that they intend to conclude their joint venture (JV) that began in 2007 called Spirit-Progresstech. Spirit intends to sell its 50 per cent share of the company to a member company of Progresstech. Spirit's decision to sell its share in the JV is part of a strategic review intended to help improve resources across the company in order to better meet customer needs.

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