Hexcel Acquires 50% Interest in Formax

Formax is located in Leicester, UK with estimated sales in 2014 of approximately $45 million.  Hexcel’s interest is to advance knitting technology for future aerospace applications and provide scale for growing industrial markets.

According to Hexcel, this announcement follows a Joint Development Agreement under which the two companies have been cooperating for the development and manufacture of certain non-crimp fabrics (NCF) for Hexcel and its aerospace customers.

Hexcel’s Chairman, CEO and President, Nick Stanage, stated: “This partnership demonstrates our commitment to growing our business, expanding our technologies and strengthening Hexcel’s position as a global leader in advanced composites.”

Formax’s Managing Director, Oliver Wessely, commented: “All of us at Formax are very excited to be taking the next steps in our development with Hexcel as a partner. We believe this will open up new opportunities for us to develop our range of stitch-bonded reinforcements to the benefit of all of our customers.”

Photo provided by Hexcel.

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For more information visit:

• http://www.hexcel.com

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