#USA #Wichita #Spirit AeroSystems #Fiber Materials #Tex Tech Industries

Spirit AeroSystems Completes Fiber Materials Sale to Tex Tech Industries

In a significant move aimed at streamlining their operations and focusing on core competencies, Spirit AeroSystems Holdings, Inc. has announced the sale of its Fiber Materials Inc. (FMI) business to Tex Tech Industries, Inc. for a cash sum of $165 million. This strategic decision, announced from Spirit's headquarters in Wichita, Kansas, sets the stage for a new chapter in the aerospace supply chain.

A Leading Player in High-Temperature Materials

FMI, an established leader in high-temperature materials and reinforced composites, has forged an impressive reputation over the last five decades. With facilities located in Biddeford, Maine, and Woonsocket, Rhode Island, FMI specializes in products such as Carbon/Carbon composites, which are crucial in applications related to thermal protection systems and aerospace components. Their materials have been employed in high-stakes projects including NASA's Mars Curiosity, the Orion spacecraft, and various defense platforms.

Irene Esteves, Spirit AeroSystems' Chief Financial Officer, emphasized that the transaction serves the best interests of both Spirit and its customers. She stated, “This transaction is in the best interest of Spirit, the FMI business and the customers it serves.”

Tex Tech Industries Benefits from the Acquisition

Tex Tech Industries, headquartered in Kernersville, North Carolina, is poised to gain immensely from this acquisition. Scott Burkhart, the CEO of Tex Tech, highlighted the strategic importance of adding FMI to their portfolio, remarking, “The addition of FMI adds a unique set of high-performance products to our robust portfolio of thermally protective materials.” With FMI's capabilities, Tex Tech plans to enhance its service offerings in the growing aerospace and defense sectors, where the demand for high-performance materials is escalating.

The acquisition not only broadens Tex Tech's existing product line but also accelerates their growth in the market, enabling them to meet the increasing requirements of their customers in aerospace and other demanding industries. By combining the strengths of both companies, Tex Tech aims to deliver even better solutions to its clients, providing tailored materials that meet rigorous specifications.

Investment in Expertise and Workforce

The transaction is expected to benefit the approximately 400 engineers and production personnel currently employed by FMI. As part of Tex Tech, these employees will continue developing and manufacturing high-quality materials while being integrated into a larger organization with expanded capabilities and markets. This integration is anticipated to foster innovation and enhance support for projects that demand stringent material specifications.

The Bigger Picture

While this acquisition reshapes the operational landscape for both Spirit and Tex Tech, it also reflects a trend in the aerospace and defense industry toward consolidation and specialization. As companies adapt to new market realities and demands, such acquisitions become crucial for sustained growth and relevance in a highly competitive market.

As Spirit moves forward, it continues to focus on its core areas of aerostructures and advanced composite manufacturing solutions. With a commitment to innovation, Spirit aims to retain its position as a leading manufacturer of aerostructures for commercial and military aircraft.

For more details on this deal and its implications, interested parties are encouraged to visit the official websites of both Spirit AeroSystems and Tex Tech Industries.

Conclusion
The sale of FMI marks a defining moment for Spirit AeroSystems and Tex Tech, as both companies gear up to maximize their strengths in upcoming projects. As the aerospace landscape evolves, partnerships formed through such strategic acquisitions will likely play a pivotal role in shaping the future of the industry.