Spirit Announces Sale of Fiber Materials Inc. (FMI) to Tex Tech Industries

Core Viewpoint - Spirit AeroSystems Holdings, Inc. has announced the sale of its Fiber Materials Inc (FMI) business to Tex Tech Industries, Inc. for $165 million in cash, which is seen as beneficial for both companies and their customers [1][3]. Company Overview - Spirit AeroSystems is a leading manufacturer of aerostructures for commercial airplanes, defense platforms, and business/regional jets, with expertise in aluminum and advanced composite manufacturing [5]. - The company is headquartered in Wichita, Kansas, and operates facilities in the U.S., U.K., France, Malaysia, and Morocco [5]. Fiber Materials Inc (FMI) Details - FMI specializes in high-temperature materials and reinforced composites, focusing on Carbon/Carbon and related composites, with applications in defense and NASA programs [2][7]. - The company employs approximately 400 engineers and production personnel and has been a solutions provider for over 50 years [2][7]. Tex Tech Industries, Inc. Overview - Tex Tech Industries is a global supplier of materials science-based solutions, servicing key markets such as aerospace, defense, medical, and industrial [6]. - The acquisition of FMI is considered strategic for Tex-Tech, enhancing its portfolio of thermally protective materials to meet the growing demands of the space and defense industry [4].