Composites World / NetComposites

Connecting you to the composites industry

Advertisement

NetComposites Ltd has transferred the rights and ownership of this website to Gardner Business Media Inc.

On 1st January 2020, NetComposites' media assets including netcomposites.com, newsletters and conferences were transferred to Composites World (Gardner Business Media).

This site is no longer being updated. Please direct all enquiries to netcomposites@gardnerweb.com.

For further details see our joint press release.

UK Aerospace Engineering Company to Acquire Leading US Polymer Technology Provider

  • Friday, 14th January 2005
  • 0 comments
  • Reading time: about 2 minutes

More in Aerospace

Alvant Recognised at BEEA Awards

  • 21st October 2019

Greene Tweed Launches Fusion 665

  • 16th October 2019

Evonik Adds to the TROGAMID(r) Product Group

  • 15th October 2019

Hampson Industries PLC, the UK-listed aerospace and precision engineering group is set to takeover Texstars Inc, a leading US-based provider of highly engineered polymer-based technologies primarily for the global aerospace and defence markets, from American Capital Strategies, Ltd.

The acquisition will be made for a total cash consideration of USD 41 million (£22.4 million) and brings composite forming into the Hampson orhanisation.

Hampson also announces a placing of 69,290,918 new ordinary shares at a price of 17.6 pence per share with the net proceeds – expected to amount to £11.4 million – will be used to fund approximately half of the consideration payable for Texstars.

The acquisition marks a clear return for growth with attractive positioning on key US aerospace & defence programmes whilst broadening Hampson’s customer and product base, reduces its focus on civil & new build markets.

The placing has strong institutional support and, subject to shareholder approval, will be Hampson’s second successful major equity fundraising in six months as the Group continues to focus on strong growth.

Hampson group Chief Executive, Kim Ward, said that “with the foundations of recent new contract wins now in place, the acquisition of Texstars will add considerable strength to the Hampson group and increase our attractiveness as a strategic supply partner to the major global airframe manufacturers. This comes at a time when the signs are evident that the market for commercial air travel is in recovery and aircraft production rates are set to rise.”

“Texstars is a well-managed and respected business with strong market positioning and proven technologies and capabilities that complement those of our own. We are delighted to have secured this much sought-after prize.”


For more information visit:


Share this article


Categories


More News


Comments (0)

Leave your comment