Regulatory News:
Hexcel Corporation (NYSE:HXL)(Paris:HXL) announced today that it has
acquired full ownership of Formax UK Limited. Hexcel acquired a 50%
interest in the privately-owned company in December 2014.
Located in Leicester, UK, Formax is a leading manufacturer of composite
reinforcements, specializing in the production of lightweight carbon
fiber multi-axials and highly engineered glass fiber and aramid fiber
fabrics. The purchase of the remaining interest in Formax will allow
Hexcel to further advance dry reinforcements technology for future
aerospace applications and provide scale for growing industrial markets.
Hexcel’s Chairman, CEO and President, Nick Stanage, stated: “Our joint
venture has demonstrated how well Formax technologies and products
complement our product line and will help us grow our aerospace and
industrial businesses. We believe that fully integrating the Formax
operations into Hexcel will enable us to accelerate the synergies
between our operations and enhance our abilities to provide innovative
solutions to our customers. We welcome Formax to our company, and we’re
looking forward to a successful future together.”
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Hexcel Corporation is a leading advanced composites company. It
develops, manufactures and markets lightweight, high-performance
structural materials, including carbon fibers, reinforcements, prepregs,
honeycomb, matrix systems, adhesives and composite structures, used in
commercial aerospace, space and defense and industrial applications such
as wind turbine blades.
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