American Spirit AeroSystems disclosed its 2019 performance report on February 28, saying that it had completed the acquisition of Fiber Materials Inc. (hereinafter referred to as FMI) for $ 120 million on January 10.
FMI is an industry-leading technology company specializing in high-temperature materials and composite materials for defense. The company's main business focuses on the application of multi-axial reinforced composite materials in high-temperature fields, such as thermal protection systems, nose cones for reentry aircraft, and throats and nozzles of rocket engines. The company has positioned itself as a leader in 3D woven carbon-carbon high-temperature materials for supersonic missiles, and the United States Department of Defense (Arlington, Virginia, USA) has identified it as a national priority.
FMI is headquartered in Bideford, Maine, and has more than 200 employees in two facilities in the state. Spirit AeroSystems said that the acquisition of FMI is in line with the company`s strategic growth goals to diversify its customer base and expand its current defense business.
Tom Gentile, President and CEO of Spirit AeroSystems, said: “FMI`s existing product portfolio is ideal for Spirit, and its capabilities will help us develop new composite technologies for a variety of aerospace applications.”