Hexcel acquires remaining 59 per stake in UK-based firm Formax

Hexcel acquires remaining 59 per stake in UK-based firm Formax

11:05 AM, 6th January 2016
Hexcel acquires remaining 59 per stake in UK-based firm Formax

STAMFORD, US: Hexcel Corporation said that it has acquired full ownership of Formax UK Limited. Hexcel acquired a 50 percent interest in the privately-owned company in December 2014.

Leicester, UK-based Formax is a leading manufacturer of composite reinforcements, specializing in the production of lightweight carbon fibre multi-axials and highly engineered glass fiber and aramid fiber fabrics. The purchase of the remaining interest in Formax will allow Hexcel to further advance dry reinforcements technology for future aerospace applications and provide scale for growing industrial markets.

“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,” said Nick Stanage, chairman, CEO and president, Hexcel.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


DSM Engineering Plastics moves its Americas headquarters

SINGAPORE: Royal DSM said that its business group DSM Engineering Plastics, has moved its Americas headquarters to the nearby Columbia Center property ...

Read more
Bayer sells diabetes-care biz to Panasonic Healthcare for €1 billion

TOKYO, JAPAN: Bayer AG said that it has sold its diabetes care business to Panasonic Healthcare Holdings Co Ltd. The total consideration for the trans ...

Read more
Praxair combines joint venture operations in South-eastern US

DANBURY, US: Praxair Distribution Inc (PDI), a subsidiary of Praxair Inc said that its two joint venture companies operating in the South-eastern US h ...

Read more
KBR sells its Infrastructure Americas Business to Stantec

HOUSTON, US: KBR Inc said that it has finalized the sale of its Infrastructure Americas business to Stantec Consulting Services Inc. The sale of Infra ...

Read more
Fluor bags nuclear plants construction workforce management contract

IRVING, US: Fluor Corporation said that it has been awarded two subcontracts by Westinghouse Electric Company to manage the construction workforce at ...

Read more
ICL signs 3.4 mn tonne potash agreements with its Chinese customers

TEL AVIV, ISRAEL: Israel Chemicals Ltd (ICL) said that it has signed framework agreements with its customers in China to supply an aggregate 3.4 milli ...

Read more