Spirit AeroSystems acquires Fiber Materials Inc.
According to a Feb. 28 report on the company’s 2019 results, Spirit AeroSystems (Wichita, Kan., U.S.) closed its purchase of Fiber Materials Inc. (FMI, Biddeford, Maine, U.S.) on Jan. 10 for $120 million.
FMI is an industry-leading technology company specializing in high-temperature materials and composites for defense. The company’s main operations focus on multidirectional reinforced composites that enable high-temperature applications such as thermal protection systems, reentry vehicle nose tips, and rocket motor throats and nozzles. The company has positioned itself as a leader in 3D woven carbon-carbon high-temperature materials for hypersonic missiles, which the U.S. Department of Defense (Arlington, Va., U.S.) has identified as a national priority.
FMI is based in Biddeford, Maine, and has more than 200 employees at two facilities in the state. According to Spirit AeroSystems, FMI aligns with the company's strategic growth objectives to diversify its customer base and expand the current defense business.
“FMI’s existing portfolio is an excellent fit with Spirit, and its capabilities will help us develop new composites technology for a number of aerospace applications,” says Tom Gentile, Spirit AeroSystems president and CEO.
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