Spirit confirms sale of Fiber Materials Inc. business
Tex-Tech Industries, provider of high-temperature, high-performance specialty material and coatings, has completed the transaction for FMI.
Source | Getty Images
On Jan. 13, Spirit AeroSystems Holding Inc. (Wichita, Kan., U.S.) confirmed the sale of 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 million in cash. Spirit announced the purchase agreement back in November 2024.
FMI develops high-temperature materials and reinforced composites, with a focus on carbon/carbon (C/C) and related composites. FMI’s applications include thermal protection systems (TMS), re-entry vehicle nose tips, and rocket motor throats and nozzles.
“This transaction is in the best interest of Spirit, the FMI business and the customers it serves,” notes Irene Esteves, Spirit AeroSystems CFO.
“We are looking forward to joining forces with Tex-Tech,” says Matt Bernier, FMI’s general manager. “This acquisition highlights the accomplishments of our team and sets the stage for an even brighter future. Together, with the significant capital and combined heritage of IP-rich material science know-how and manufacturing capabilities, we will leverage our combined strengths to continue delivering innovative solutions and value to our customers.”
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