Hexcel adding French dressing to its recipe for success
Nasdaq quoted Hexcel Corporation, whose European research HQ is in the Cambridge technology cluster, is bidding to acquire all the shares of a French business whose capabilities will supplement the strengths of its Duxford operations.
No figure has been disclosed for the proposed acquisition of Structil SA – based near Paris – but the French company had sales of around $21 million last year. It produces and supplies high performance composites to the aerospace, defence and industrial markets.
The deal is subject to review by French authorities and employee representative bodies but the acquisition is expected to close this year.
Structil is a JV between Safran Ceramics and Mitsubishi Chemical Corporation and employes 70 staff in Vert-le-Petit, some 25 miles south of Paris.
Hexcel chairman, CEO and president, Nick Stanage said: By combining Structil’s advanced composites product portfolio of prepegs, adhesives and pultrusions with ours, this acquisition would further enhance our product offerings to customers in aerospace and industrial – providing an expanded choice of advanced composite solutions.
“The integration of the Structil team would also further strengthen our development capability and technologies for next generation aerospace and industrial applications.
“Hexcel is a Safran First Circle supplier and this project will further reinforce our strong 30-year partnership.”
Hexcel has spent millions on upgrading its Duxford capabilities in recent years and the UK operations have been integral to the company’s highly lucrative contracts with customers such as Airbus.
• PHOTOGRAPH SHOWS: Nick Stanage