Spirit to Sell Fiber Materials Inc. Business to Tex Tech Industries

Spirit to Sell Fiber Materials Inc. Business to Tex Tech Industries

Spirit AeroSystems has agreed to sell its Fiber Materials Inc. business to Tex-Tech Industries for $165 million in cash.

In a statement released Monday, Tex-Tech CEO Scott Burkhart said FMI’s range of high-performance products will be added to the company’s offerings for the space and defense industry.

“Our customers demand world-class solutions, and the integration of FMI bolsters our ability to meet those demands,” he added.

FMI produces high-temperature materials and reinforced composites. Its products support defense systems and NASA programs like Stardust, Mars Curiosity, Orion and Mars 2020.

Tex-Tech, on the other hand, is a global supplier of materials science-based products in key markets such as aerospace, defense, medical, and industrial.

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