Spirit sells off Fiber Materials Inc. business to Tex-Tech Industries
Purchase agreement of high-temperature materials business will be added to Tex-Tech’s specialty textiles and fabrics portfolio following customary approvals.
Source | Getty Images
On Nov. 18, Spirit AeroSystems Holdings Inc. (Wichita, Kan., U.S.) announced a purchase agreement to sell its Fiber Materials Inc. (FMI) business based in Biddeford, Maine, and Woonsocket, Rhode Island, to Tex-Tech Industries Inc. (Kernersville, N.C., U.S.) for $165,000,000 in cash, subject to customary adjustment. Spirit previously acquired FMI on Jan. 10, 2024 .
FMI offers high-temperature materials and reinforced composites, with a focus on carbon/carbon (C/C) and related composites. FMI’s applications include thermal protection systems (TPS), re-entry vehicle nose tips, and rocket motor throats and nozzles. Its products are installed on critical defense platforms as well as NASA programs such as Stardust, Mars Curiosity, Orion, and Mars 2020. The program employs approximately 400 engineers and production personnel.
“Tex-Tech is excited to add FMI’s array of high-performance products to our existing portfolio of offerings for the rapidly growing space and defense industry,” says Scott Burkhart, Tex-Tech CEO. “Our customers demand world-class solutions, and the integration of FMI bolsters our ability to meet those demands.”
For related content, read “Spirit Q3 financial results raise concern of business viability.”
Related Content
-
Plant tour: Aernnova Composites, Toledo and Illescas, Spain
RTM and ATL/AFP high-rate production sites feature this composites and engineering leader’s continued push for excellence and innovation for future airframes.
-
The next-generation single-aisle: Implications for the composites industry
While the world continues to wait for new single-aisle program announcements from Airbus and Boeing, it’s clear composites will play a role in their fabrication. But in what ways, and what capacity?
-
Welding is not bonding
Discussion of the issues in our understanding of thermoplastic composite welded structures and certification of the latest materials and welding technologies for future airframes.
