October 31, 2019 / 12:17 PM / 16 days ago

Britain welcomes Spirit AeroSystems' purchase of Bombardier's Belfast site

FILE PHOTO: A Bombardier logo is seen at the Bombardier plant in Belfast, Northern Ireland January 26, 2018. REUTERS/Clodagh Kilcoyne/File Photo

LONDON (Reuters) - The purchase of Bombardier’s (BBDb.TO) plant in Belfast by Spirit AeroSystems (SPR.N) is great news for workers and a welcome investment in the United Kingdom, Britain’s junior business minister Nadhim Zahawi said on Thursday.

Bombardier agreed to sell its aerostructure business, including the Short Brothers site in Northern Ireland, to Spirit AeroSystems for more than $1 billion (£773 million) in cash and debt. Reuters reported the two were in advanced talks on Wednesday night.

“I’m pleased that Spirit AeroSystems is boosting its investment in the UK,” Zahawi said in a statement.

“This will be great news for Short Brothers and its highly skilled and dedicated workforce, at one of the most important aerospace facilities in the country. I look forward to seeing this successful and ambitious business continue to go from strength to strength.”

The deal is expected to close in the first half of 2020.

Reporting by Kate Holton, Editing by Paul Sandle

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