Dan’s Biz Bookshelf: ‘Innovation X: Why a Company’s Toughest Problems Are Its Greatest Advantage’
Happy’s Tech Talk #36: The LEGO Principle of Optical Assembly
Fein-Lines: CES 2025—Highlighting the Future With Sony and NVIDIA
Spirit Announces Sale of FMI to Tex Tech Industries
January 14, 2025 | Spirit AeroSystems Holdings, Inc.Estimated reading time: 1 minute
Spirit AeroSystems Holdings, Inc. announced the sale of Fiber Materials Inc (FMI) business based in Biddeford, Maine, and Woonsocket, Rhode Island, to Tex Tech Industries, Inc. (Tex-Tech) for $165 million in cash.
FMI is an industry leader in high-temperature materials and reinforced composites, with a focus on Carbon / Carbon and related composites. FMI's applications include thermal protection systems, re-entry vehicle nose tips, and rocket motor throats and nozzles. FMI's products are installed on critical defense platforms as well as NASA programs such as Stardust, Mars Curiosity, Orion, and Mars 2020. The program employs approximately 400 engineers and production personnel.
"This transaction is in the best interest of Spirit, the FMI business and the customers it serves," said Irene Esteves, Spirit AeroSystems Chief Financial Officer.
"The acquisition of FMI is highly complementary and strategic for Tex-Tech," said Scott Burkhart, Tex-Tech Chief Executive Officer. "The addition of FMI adds a unique set of high-performance products to our robust portfolio of thermally protective materials. FMI's unique capabilities will allow us to better service the rigorous material requirements in the rapidly growing space and defense industry."
Share on:
Suggested Items
Technica Installs CBT/MLI Direct Imaging System at Summit Interconnect Santa Clara
01/14/2025 | Technica USATechnica has recently installed the 6th CBT/MLI Direct Imaging (DI) system at Summit Interconnect's Santa Clara operation, a testament to Summit's ongoing commitment to cutting-edge technology and operational excellence.
Merlin Circuit Technology Achieves Prestigious JOSCAR Accreditation
01/14/2025 | Merlin Circuit TechnologyMerlin Circuit Technology is proud to announce it has been awarded the coveted Joint Approvals Group for Industry (JAG) Standard 001 (JOSCAR) accreditation.
Biden-Harris Administration Awards Additional $210 Million Tech Hub Grants
01/14/2025 | U.S. Department of CommerceThe U.S. Department of Commerce’s Economic Development Administration (EDA) announced today that it plans to award approximately $210 million in implementation grants, ranging between approximately $22 million and $48 million, to six Tech Hub Designees as part of a new round of funding from Congress. In addition, EDA intends to partner with the U.S. National Science Foundation (NSF) to extend tailored resources and personalized support to Tech Hubs.
SK Telecom, SK hynix and Penguin Solutions Sign Collaboration Agreement for AI Data Center Solutions
01/14/2025 | SK TelecomSK Telecom announced that it has signed a collaboration agreement with SK hynix and Penguin Solutions to pursue joint research, development, and business promotion of artificial intelligence data center (AIDC) solutions.
Argonne to Lead Two Microelectronics Research Projects Under U.S. Department of Energy Initiative
01/13/2025 | BUSINESS WIREThe U.S. Department of Energy’s (DOE) Argonne National Laboratory is managing two microelectronics studies that will support multidisciplinary codesign of hardware and software and enable processing of vast quantities of data at unprecedented speeds.