Collaboration helps to transform the industry’s
ability to scale affordable hypersonic thermal protection
systems
Spirit AeroSystems, Inc. and Fiber Materials, Inc. (collectively
Spirit), subsidiaries of Spirit AeroSystems Holdings, Inc. (NYSE:
SPR), and Albany Engineered Composites, a subsidiary of Albany
International Corp. (NYSE: AIN), have formally entered a technical
collaboration agreement to capitalize on the their unique
capabilities to deliver a suite of differentiated technical and
industrialized solutions to more rapidly support hypersonic program
developments.
The combination of Spirit’s ultra-high temperature composites
and structures capabilities, along with Albany Engineered
Composites’ experience of producing high volumes of 3D woven,
near-net shape composites, creates an unmatched expertise and
capacity to design, develop, and manufacture a wide range of
scalable, highly adaptable, and affordable Thermal Protection
Systems solutions for hypersonic missions.
“The biggest challenge facing the Department of Defense and
primes in hypersonic programs is the need for scalable and
affordable thermal protection systems that can be tailored to each
mission and optimized for performance,” said Mark Miklos, Vice
President, Hypersonic Solutions at Spirit. “This collaboration
enables elegant technical solutions while reducing the risk in
accelerating program timelines and scaling to production.”
"By working together and leveraging our proprietary technologies
and state-of-the-art manufacturing processes, Spirit and Albany
Engineered Composites are expected to achieve superior hypersonic
design solutions not possible before this collaboration launched,"
said Greg Harwell, President of Albany Engineered Composites.
"These synergies should assist with eliminating a serious market
constraint and will deliver better results.”
The collaboration brings together years of unique and
complimentary skillsets, lowering the risks of manufacturing
hypersonic capable large acreage and aeroshell configurations.
Combining Albany Engineered Composites’ 3D woven near-net-shaped
composites technology with Spirit’s densification processes, should
exceed hypersonic design requirements, increase production output,
reduce waste, and lower cost. This collaboration also improves
response time to challenging developmental timelines to meet
industry demands.
About Spirit AeroSystems
Spirit AeroSystems is one of the world's largest manufacturers
of aerostructures for commercial airplanes, defense platforms, and
business/regional jets. With expertise in aluminum and advanced
composite manufacturing solutions, the company's core products
include fuselages, integrated wings and wing components, pylons,
and nacelles. We are leveraging decades of design and manufacturing
expertise to be the most innovative and reliable supplier of
military aerostructures, and specialty high-temperature materials,
enabling warfighters to execute complex, critical missions. Spirit
also serves the aftermarket for commercial and business/regional
jets. Headquartered in Wichita, Kansas, Spirit has facilities in
the U.S., U.K., France, Malaysia and Morocco. More information is
available at www.spiritaero.com.
About Albany International Corp.
Albany International is a
leading developer and manufacturer of engineered components, using
advanced materials processing and automation capabilities, with two
core businesses. Machine Clothing is the world’s leading producer
of fabrics and process felts used in the manufacture of all grades
of paper products. Albany Engineered Composites is a rapidly
growing designer and manufacturer of advanced materials-based
engineered components for jet engine and airframe applications,
supporting both commercial and military platforms. Albany
International is headquartered in Rochester, New Hampshire,
operates 23 plants in 11 countries, employs approximately 4,000
people worldwide, and is listed on the New York Stock Exchange
(Symbol AIN). Additional information about the Company and its
products and services can be found at
www.albint.com.
Spirit AeroSystems Cautionary Statement Regarding
Forward-Looking Statements
This press release contains "forward-looking statements" that
may involve many risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "aim," "anticipate," "believe,"
"could," "continue," "estimate," "expect," "goal," "forecast,"
"intend," "may," "might," "objective," "outlook," "plan,"
"predict," "project," "should," "target," "will," "would," and
other similar words, or phrases, or the negative thereof, unless
the context requires otherwise. These statements reflect
management's current views with respect to future events and are
subject to risks and uncertainties, both known and unknown. Our
actual results may vary materially from those anticipated in
forward-looking statements. We caution investors not to place undue
reliance on any forward-looking statements. Important factors that
could cause actual results to differ materially from those
reflected in such forward-looking statements and that should be
considered in evaluating our outlook include, without limitation,
the impact of the COVID-19 pandemic on our business and operations;
the timing and conditions surrounding the full worldwide return to
service (including receiving the remaining regulatory approvals) of
the B737 MAX, future demand for the aircraft, and any residual
impacts of the B737 MAX grounding on production rates for the
aircraft; our reliance on Boeing for a significant portion of our
revenues; our ability to execute our growth strategy, including our
ability to complete and integrate acquisitions; our ability to
accurately estimate and manage performance, cost, and revenue under
our contracts; demand for our products and services and the effect
of economic or geopolitical conditions in the industries and
markets in which we operate in the U.S. and globally; our ability
to manage our liquidity, borrow additional funds or refinance debt;
and other factors disclosed in our filings with the Securities and
Exchange Commission. These factors are not exhaustive and it is not
possible for us to predict all factors that could cause actual
results to differ materially from those reflected in our
forward-looking statements. These factors speak only as of the date
hereof, and new factors may emerge or changes to the foregoing
factors may occur that could impact our business. Except to the
extent required by law, we undertake no obligation to, and
expressly disclaim any obligation to, publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210706005818/en/
Spirit AeroSystems Media Contact: Kate Whitney, (207)
387-3450 Marketing Communications Manager
kate.whitney@spiritaero.com
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