Hexcel Completes Structil Acquisition
STAMFORD, Conn., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Hexcel Corporation (NYSE:HXL) announced today that it has completed the acquisition of all of the shares of Structil SA, a French producer and supplier of high-performance composites to the aerospace, defense and industrial markets.
Structil has been a joint venture between Safran Ceramics, a wholly owned subsidiary of Safran, and Mitsubishi Chemical Corporation (formerly Mitsubishi Rayon Corporation). Approximately 70 people work at the 68,000-square-foot production plant on a seven-acre site in Vert-le-Petit, France, about 25 miles south of Paris. Structil's 2016 sales were approximately $21 million. Product lines include prepregs, structural adhesives and pultruded profiles used in engine nacelles, aerospace interiors, military jets and more.
Hexcel's Chairman, CEO and President, Nick Stanage, said, "We are pleased to complete the transaction and to welcome the Structil team to Hexcel. Together, we will strengthen our development capability and technologies for next-generation aerospace and industrial applications."
Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered core and composite structures for use in commercial aerospace, space and defense and industrial applications.