Spirit AeroSystems and Progresstech enter into joint venture

"Our partnership is mutually beneficial to both companies, in growing our business and supporting our customers around the world," said Spirit President and CEO JeffTurner. "For Spirit, it will bring access to engineering talent and developing technologies."

"We are excited about the prospects that this venture opens up for our company," said Progresstech Chairman of the Board Vladimir Kulchitsky. "Spirit AeroSystems has worked with Progresstech for several years and this joint venture is a continuation of that teamwork and success. We will be able to expand global presence and realize new opportunities."