Biddeford composites-maker acquired
Fiber Materials Inc. in Biddeford has been sold to an Ohio manufacturer of graphite-based products.
GrafTech International bought FMI last week for $14 million, according to Current Publishing. FMI makes advanced carbon composites and high-temperature materials for the aerospace and defense industries, and its 160 employees will become part of GrafTech's Engineered Solutions division. GrafTech has 19 manufacturing facilities on four continents and employs more than 3,200 people. Its natural and synthetic graphite products are used in electronics, advanced energy and steel manufacturing.
FMI was founded in 1969 and moved to Biddeford in 1972, according to its website. It also has a facility in Presque Isle and Columbus, Ohio.
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