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16th December 2014, Stamford, CT

Hexcel acquires 50% of UK based multi-axial fabrics producer

Hexcel, an advanced composites company, has acquired 50% of Formax UK, a leading manufacturer of composite reinforcements, specialising in the production of lightweight multi-axial fabrics.

Located in Leicester, UK, Formax has reported approximately US$ 45 million in sales in 2014. Hexcel’s interest is to advance knitting technology for future aerospace applications and provide scale for growing Industrial markets.

Under the Joint Development Agreement the two companies have been cooperating for the development of certain non-crimp fabrics for Hexcel and its aerospace customers.

“This partnership demonstrates our commitment to growing our business, expanding our technologies and strengthening Hexcel’s position as a global leader in advanced composites,” commented Nick Stanage, Hexcel’s Chairman, CEO and President.

Aerospace customers

This announcement follows a Joint Development Agreement under which the two companies have been cooperating for the development and manufacture of certain non-crimp fabrics (NCF) for Hexcel and its aerospace customers.

“All of us at Formax are very excited to be taking the next steps in our development with Hexcel as a partner. We believe this will open up new opportunities for us to develop our range of stitch-bonded reinforcements to the benefit of all of our customers,” explained Oliver Wessely, Formax's Managing Director.

Hexcel Corporation

Hexcel Corporation develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibres, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defence, and industrial applications, such as wind turbine blades.

www.hexcel.com

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