Hexcel Corporation has announced that it has acquired full ownership of Formax UK Limited. Hexcel acquired a 50% interest in the privately-owned company in December 2014.
Located in Leicester, UK, Formax is a manufacturer of composite reinforcements, specializing in the production of lightweight carbon fiber multi-axials and glass fiber and aramid fiber fabrics. The purchase of the remaining interest in Formax will allow Hexcel to 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,’ said Hexcel’s chairman, CEO and president, Nick Stanage. ‘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.’
This story uses material from Hexcel, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
