Beleaguered Spirit AeroSystems, which is in financial difficulty prior to the completion of its acquisition by Boeing and spin-off of a portion to Airbus, is selling its Fiber Materials unit. The transaction with Tex-Tech Industries is an all cash deal for $165 million.
Unique High Temperature Applications
Fiber materials manufacturers carbon and ceramic composite materials used primarily in defense and space applications. Products include thermal protection system, re-entry vehicle nose tips, and parts for rocket motors and nozzles. Materials produced by Fiber Materials are used on critical defense platforms and NASA programs Stardust, Mars Curiosity, Mars 2020 and Orion.
“Tex-Tech is excited to add MFI’s unique array of high-performance products to our existing portfolio of offerings for the rapidly growing space and defense industry,” said Scott Burkhart, Tex-Tech CEO. “Our customers demand world-class solutions, and the integration of FMI bolsters our ability to meet those demands.”
Beleaguered Spirit AeroSystems, which is in financial difficulty prior to the completion of its acquisition by Boeing and spin-off of a portion to Airbus, is selling its Fiber Materials unit. The transaction with Tex-Tech Industries is an all cash deal for $165 million.
