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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