Hexcel Corporation has now acquired full ownership of Formax UK Limited, a leading manufacturer of lightweight carbon fibre multi-axials and highly engineered glass fibre and aramid fibre fabrics, after buying 50% stake in the privately-owned company in December 2014.
On completing the acquisition of Formax UK, Nick Stanage, Chairman, CEO and President at Hexcel averred, “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. We welcome Formax to our company, and we’re looking forward to a successful future together.”
The acquisition of the remaining interest in Formax will enable Hexcel to further advance dry reinforcements technology for future aerospace applications and provide scale for growing industrial markets, the press release mentioned.
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Hexcel develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibres, reinforcements, prepregs, honeycomb, matrix systems, adhesives, etc.
