Spirit AeroSystems to Sell Fiber Materials Unit for $165M -- Update

Spirit AeroSystems to Sell Fiber Materials Unit for $165M -- Update

Spirit AeroSystems Holdings has sold its Fiber Materials Inc. business to Tex-Tech Industries for $165 million. The acquisition expands Spirit's presence in the defense sector. Boeing also agreed to pay Spirit up to $350 million. Airbus has provided Spirit a $107 million line of credit.

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