Benzinga | Jul 7, 2021 11:17AM EDT

Spirit AeroSystems Partners With Albany International To Support Hypersonic Program

* Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has entered into a collaboration agreement with Albany International Corp. (NYSE:AIN) to deliver technical and industrialized solutions to support hypersonic program developments.

* Spirit's ultra-high temperature composites and structures capabilities along with Albany's experience of producing high volumes of 3D woven, near-net shape will be helpful to design, develop, and manufacture a wide range of scalable, highly adaptable, and affordable Thermal Protection Systems solutions for hypersonic missions.

* "This collaboration enables elegant technical solutions while reducing the risk in accelerating program timelines and scaling to production," said Mark Miklos, Vice President hypersonic solutions at Spirit.

* Price action: SPR shares traded lower by 2.42% at $45.18 on the last check Wednesday.