15 April 2004
15 April 2004
Two components for the A380, the newest and largest aircraft in the Airbus fleet, will be made with GLARE composite reinforced with AGY’s S-2 Glass roving.
According to published reports, the A380 aircraft will include the largest use of composite materials in any commercial aircraft to date. The two components specified for GLARE composite reinforced with S-2 Glass roving are a part of the upper fuselage and the leading edge of the vertical stabilizer.
“The combination of light weight performance as well as the flame, smoke and toxicity advantages provided by S-2 Glass reinforcements allowed Airbus to reduce weight in this new state-of-the-art aircraft,” says Will Chafin, Market Manager, S-2 Glass Products, AGY. “Partnering with Cytec Engineered Materials and FMLC (Fibre Metal Laminates Centre of Competence), AGY was able to bring a high performance material together with a cutting edge laminate technology and provide the solution that meets the needs of Airbus.”
Following the March 8 Court approval of its Plan of Reorganization and the completion of the requisite documents, Advanced Glassfiber Yarns also plans to emerge from Chapter 11 in April.
The company also said the emerging firm will do business under the name AGY, the shorthand reference commonly used by its customers and others who know the enterprise. In addition to the name change, AGY is changing its logo that will help mark the start of the new company.
“At emergence, AGY will have less than half the level of debt it had before the company opted to file for Chapter 11 protection,” says Bob DeGange, Vice President, Marketing and Sales. “The new AGY is a financially sound company with a manageable level of debt.” It also means the company’s pre-petition creditors will soon own the company, with the largest portion of the new shares being owned by the company’s pre-bankruptcy secured lenders,” continues DeGange. “The joint venture partners that established Advanced Glassfiber Yarns, LLC will have their shares of the company cancelled. The new AGY that emerges from bankruptcy will be an independent entity.”