05 January 2016
05 January 2016
Hexcel Corporation has acquired full ownership of Formax UK, having previously acquired a 50% interest in the privately-owned company in December 2014.
Located in Leicester, UK, Formax specialises in the production of lightweight carbon fibre multi-axials and highly engineered glass fibre and aramid fibre fabrics.
The purchase of the remaining interest in Formax will allow Hexcel the opportunity to 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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