- 22 July 2008 -
Hexcel sells BHA share

HEXCEL CORPORATION of Stamford Connecticut, USA, has completed the sale of its share in BHA Aero Composites Parts Co., which produces composite aircraft parts, for US$22.3 million to the Boeing Company.

With the sale, Boeing is taking a majority position in the joint venture (JV) with China’s Aviation Industry Corporation I (AVIC I), which holds the remaining minority stake.

The existing supply and material procurement agreements between BHA, Hexcel and Boeing are affirmed and reflect continued long-term work commitments by Boeing that will ensure Hexcel assembly of BHA components for Boeing as well as the supply of Hexcel materials to BHA.

“The continuation of our long term supply agreement with Boeing and BHA will ensure an important revenue base and low cost component supply for our Engineered Products group well into the future. Additionally, we will continue to benefit from our long term agreement to supply materials to BHA,” says David E. Berges, Chairman and Chief Executive Officer at Hexcel.

BHA was set up as a JV in Tianjin, China, between Boeing and AVIC I. It specialises in producing composite secondary structures and interior parts for the aerospace industry.

Hexcel; www.hexcel.com
Boeing; www.boeing.com

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