Spirit AeroSystems’s Insurance Claim from Tornado About $400M

July 23, 2012

Spirit AeroSystems estimates its insurance claim from an April tornado will be about $400 million.

The Kansas company said Thursday that it took a $55 million charge, or 26 cents per share, in the second quarter for expenses related to the tornado.

The EF-3 tornado on April 14 damaged 40 buildings, knocked out power and took production equipment offline across the company’s complex. None of the nearly 200 employees at the plant were hurt.

The Wichita Eagle reports Spirit resumed some shipments three days after the tornado hit.

The company is currently replacing temporary fixes made after the tornado with permanent repairs.

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