Senior wins five-year contract with Spirit AeroSystems

25th Apr 2024 09:30

(Sharecast News) - Engineering and manufacturing business Senior has secured a contract extension with Spirit AeroSystems for the supply of large diameter precision formed and machined structural components for Boeing aircraft programmes.

Senior said on Thursday that the contract extension will commence in January 2026 and was valued at approximately $130.0m over the five-year period.

Chief executive of Senior Aerospace, Launie Fleming, said: "Spirit AeroSystems is an important customer to Senior who values our high levels of quality and on-time delivery. As aircraft build rates continue to increase, we are delighted to be awarded this 5-year contract extension for precision, complex aerostructure components."

The FTSE 250-listed firm noted that manufacturing will be undertaken at Senior Aerospace Jet Products' facility near San Diego, California.

As of 0930 BST, Senior shares were down 2.25% at 156.40p.

Reporting by Iain Gilbert at Sharecast.com