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Spirit AeroSystems sells Fiber Materials to Tex-Tech Industries

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Spirit AeroSystems has completed the sale of Fiber Materials, a manufacturer of high-temperature materials and composites, to Tex-Tech Industries for $165 million (around €156 million).

The transaction will allow Spirit to focus more on its core business of aerostructures. Fiber Materials supplies NASA and other industries, including defense and aerospace, among others. Tex-Tech Industries plans to use the acquisition to strengthen its market presence in these areas.

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