Hexcel takes full ownership of Formax UK joint venture

Hexcel Corporation (NYSE: HXL)(Paris: HXL) announced today that it has acquired full ownership of Formax UK Limited.

Hexcel acquired a 50 percent interest in the privately owned company in December 2014.

Located in Leicester, UK, Formax is a leading manufacturer of composite reinforcements, specializing in the production of lightweight carbon fiber 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.

Hexcel is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.