The US aviation company has been in talks with Bombardier since the beginning of the month to reach a deal.
Rabat – Canada’s Bombardier reached a deal with US Spirit Aerosystems for its Belfast-Morocco facilities.
Bombardier announced on Thursday, October 31, that it had agreed to sell its aerostructures to Aerosystems for more than $1 billion.
Bombardier Chief Executive officer Alain Bellemare said that the “transaction represents another strategic milestone in the reshaping of our portfolio to focus on our strong business aircraft and rail franchises.”
Bombardier announced the decision to sell its facilities in May.
Spirit AeroSystems Holdings will join other important aeronautics companies operating in Morocco, such as Boing, and Safran. It is one of the largest suppliers for Boeing aircraft.
Spirit already has facilities in Tulsa, McAlester, Oklahoma, Kinston, North Carolina, Malaysia, and France.
The company’s key products include, “fuselages, pylons, nacelles, and wing components,” Spirit Aero said.
The US company also provides maintenance, repair, and overhaul services.
Morocco’s foreign exchange office announced in 2018 that the Moroccan aviation industry earned more than MAD 9.78 billion ($1 billion) in the first 11 months of 2017, compared to MAD 8.42 billion ($870 million) in 2016, an increase of 16%.
The aeronautics industry is one of Morocco’s key economic pillars.
Morocco relies on the industry to curb unemployment.
Several recent reports extolled the industry of aeronautics, including Oxford Business Group. The group forecasted a flourishing future for Morocco’s economy, thanks to aeronautics and the automotive sector.
