Aircraft fuselage maker Spirit AeroSystems Holdings Inc said it would pay aero parts supplier Triumph Group Inc $160 million to take its business that makes wings for two Gulfstream jets. Spirit will incur a loss of $1.45-$1.65 per share on the transaction, which is expected to close this year, the company said.
Spirit AeroSystems Holdings, Inc. (Holdings) is an independent non- original equipment manufacturer (OEM) aircraft parts designers and manufacturers of commercial aerostructures. Shares of SPR traded higher by 0.64% or $0.28/share to $43.74. In the past year, the shares have traded as low as $25.17 and as high as $44.23. On average, 1155800 shares of SPR exchange hands on a given day and today's volume is recorded at 125356.
Triumph Group, Inc. (Triumph) designs, engineers, manufactures, repairs, overhauls and distributes a portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. Shares of TGI fell by 0.47% or $-0.32/share to $68.00. In the past year, the shares have traded as low as $59.53 and as high as $79.90. On average, 462273 shares of TGI exchange hands on a given day and today's volume is recorded at 15841.
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