27 July 2001
27 July 2001
Cytec Industries Inc. has signed a Definitive Agreement to acquire the assets of the carbon fiber business of BP. The acquisition includes two manufacturing sites in Greenville, SC and Rock Hill, SC. The transaction is subject to normal closing conditions. Terms were not disclosed.
The BP carbon fiber business had sales in the first half of 2001 of $17 million of which 50% were sales to Cytec Fiberite Inc., a wholly owned subsidiary of Cytec Industries Inc., primarily for aircraft brake and military aircraft applications. Cytec Fiberite uses carbon fiber to reinforce an engineered resin matrix and produce a composite. Commercial and military aircraft manufacturers are increasingly replacing metal in aircraft with composites to achieve the same strength with less weight.
David Lilley, Chairman, President and Chief Executive Officer said, ""Cytec Fiberite is a global leader in advanced composites and structural film adhesives for the aerospace industry. Our acquisition of this business is important to ensure that Cytec has a high-quality, low-cost, uninterrupted supply of carbon fiber for its customers. ""As a producer of carbon fiber, Cytec's materials scientists can now work even more closely with our customers to rapidly develop and qualify new, high performance composite materials for aerospace and other emerging high growth applications.
Alvant has been appointed to work on a two-year, £28 million project titled Large Landing Gear of the Future, which aims to deliver a 30% weight reduction and assist the aerospace industry’s drive to reduce fuel consumption and carbon emissions.
Hexadrone’s 3D printed Tundra prototype, manufactured by CRP Technology via laser sintering (LS) technology using Windform SP and Windform XT 2.0 carbon composite materials, has won the Red Dot Award 2018 in the drone category.
UK company Norco Composites has invested in a larger spray booth and a new cutting and kitting machine to enable the company to increase productivity in line with growing demand from its marine customers.