Tex-Tech Industries to acquire Fiber Materials from Spirit AeroSystems for $165m.

Tex Tech Industries, a designer, and manufacturer of specialty textiles and fabrics, agreed to acquire Fiber Materials, a provider of high-temperature materials and reinforced composites, from Spirit AeroSystems, a manufacturer of aerostructures for commercial airplanes, for $165m. "Tex-Tech is excited to add FMI's unique array of high-performance products to our existing portfolio of offerings for the rapidly growing space and defense industry. Our customers demand world-class solutions, and the integration of FMI bolsters our ability to meet those demands," Scott Burkhart, Tex-Tech Chief Executive Officer.