Spirit AeroSystems Holdings, Inc. (NYSE:SPR) announced today it has reached an agreement with The Boeing Company regarding certain claims associated with the development and production of the 787-8 airplane in December 2010.
"Working closely with our largest customer, we have developed a fair and equitable framework that reflects current program financial realities and reinforces a partnership that provides the basis for long-term value creation on the program for both Spirit and Boeing," said Phil Anderson, Spirit Senior Vice President and Chief Financial Officer.
"Since the program's inception, our team has worked diligently to support customer requirements on 787 development and production," Anderson said. "We are optimistic about the future of the overall program, which we anticipate will continue to provide long-term benefit to Spirit."
The agreement provides that the parties will complete formal amendments in the first half of 2011. The company expects to include any impact of the agreement in its Fourth Quarter and Full Year 2010 Financial Report planned for February 10, 2011.
Spirit AeroSystems designs and builds the composite forward fuselage, engine pylons, and wing leading edge components for the 787 program.
Based in Wichita, Kan., Spirit AeroSystems is the world's largest independent supplier of commercial airplane assemblies and components.
Orofino Gold Corp. (PINK:ORFG) has several Gold development properties in Colombia, a current hot spot of gold production in the world markets. Orofino Gold is please to report that the Board Of Directors have appointed Mr. Ning Shi Long as Chairman of the Board and Executive Director. For centuries, buying gold has been recognized as one of the best ways to preserve one’s wealth and purchasing power. Gold is a unique investment, one that has served mankind well for thousands of years. From the times of ancient Egyptians, Greeks and Romans to more modern times, man has been fascinated with the beauty and magic of gold, and with its power to change men’s lives.
Mr. Ary Fernando Pernett Marque has been appointed as the new President/CEO & Executive Director of Orofino Gold Corp. Mr. Pernett will be responsible for all affairs of Orofino Gold in Colombia. Mr. Pernett has 30 years of experience working in the Colombian Mining sector and will over the near term choose his new development team to assist in the development of Orofino Gold’s Senderos de Oro gold camp in the Sur de Bolivar Colombia.
Orofino Gold and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, Orofino Gold’s legal counsel as well as Discovery Consultants, (The Qualified 43-101 team) Canada, as they have in the past. The new team will now aggressively pursue other known Gold occurrences in the companies Senderos de Oro Gold Camp while the development team works to improve production at La Azul Mine. Because of the softness of pure (24k) gold, it is usually alloyed with base metals for use in jewelry, altering its hardness and ductility, melting point, color and other properties. Alloys with lower caratage, typically 22k, 18k, 14k or 10k, contain higher percentages of copper, or other base metals or silver or palladium in the alloy.
The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of Orofino Gold. His resignation is effective immediately. Orofino Gold wish him well and success in future endeavors. Orofino Gold Corp. engages in acquisition, exploration, and development of gold properties in Mexico and Colombia.
Orofino Gold has an option to acquire properties in the Sur de Bolivar Department of Colombia South America. Gold has been widely used throughout the world as a vehicle for monetary exchange, either by issuance and recognition of gold coins or other bare metal quantities, or through gold-convertible paper instruments by establishing gold standards in which the total value of issued money is represented in a store of gold reserves.
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