Texas attorney general launches probe of key Boeing parts supplier (NYSE:SPR)
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Texas Attorney General Ken Paxton said late Thursday his office has opened an investigation into Spirit AeroSystems (NYSE:SPR), citing “reoccurring issues” with certain airplane parts provided to Boeing (BA).
Spirit AeroSystems (SPR) produces the fuselages for Boeing’s (BA) 737 jets, and the Texas AG office said apparent manufacturing defects on certain models of the 737 have led to “numerous concerning or dangerous incidents, some of which occurred in-air.”
Paxton said his office has instructed Spirit AeroSystems (SPR) to produce documents relevant to manufacturing defects in their products, as well as documents related to its diversity, equity, and inclusion commitments, and whether those commitments are compromising the company’s manufacturing processes.
Spirit AeroSystems (SPR) shares ended Thursday at $36.07, up 26% in the past month and its highest closing price in nearly two years.
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