Regulatory News:
Hexcel Corporation (NYSE:HXL)(Paris:HXL), announced today that it will
expand its global engineered core capacity by building a
117,000-square-foot manufacturing plant in Casablanca, Morocco.
The new facility is part of Hexcel’s ongoing worldwide investment to
create a diversified and robust global supply chain to support aerospace
customers’ growing demand for engineered core. Engineered core is formed
and machined honeycomb material used for light weighting in structural
applications such as aircraft secondary structures, nacelles, and
helicopter blades. In recent years, Hexcel has increased its capacity at
existing plants to support its current engineered core business and
plans further expansions to capture additional opportunities in a global
market with excellent growth potential.
The new Moroccan plant will be built at the MidParc Free Trade Zone
(FTZ) Industrial Park, located close to Morocco’s Mohammed V airport and
near several Hexcel customers including Safran (Aircelle), Airbus
(STELIA), Matis (a joint venture between Boeing and Safran) and
Bombardier. Construction on the $20 million project begins in the
spring, and the plant is expected to be fully operational by mid-2017.
By 2020, it is expected to employ more than 200 people.
Hexcel’s Chairman, CEO and President, Nick Stanage, said: “We believe
engineered core has an excellent growth outlook and global upside
potential. This new plant will position us to win new business to supply
engineered core for engines and nacelles and other commercial
aerostructure applications. We expect to partner more closely with our
key customer base in Europe, Middle East, Africa and North America
through this new Moroccan center of excellence.”
Bob Noble, Vice President, Partnering for Success, Supplier Management,
Boeing Commercial Airplanes, said, “Through our joint venture Matis,
Boeing has been an anchor of the growing Moroccan aerospace ecosystem
since 2000. We welcome Hexcel’s new facility, which will serve to
further expand regional capabilities, increasing the value Morocco
offers aerospace companies around the world.”
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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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