Hexcel

Hexcel
Traded as NYSE: HXL
Russell 1000 Component
Industry Commercial aerospace, apace and defense and industrial
Founded 1948 (1948)
Founders Roger C. Steele & Roscoe T. Hughes
Headquarters Stamford, Connecticut, United States
Area served
 Worldwide
Key people

Nick L. Strange

Chairman, CEO, and President
Products

Composite materials

Engineered Products
Revenue $1,973,300 [1]
$350,600
$284K
Total equity $1,495,100[1]
Number of employees
 6.26K
Website hexcel.com

Hexcel Corporation (NYSE: HXL) is a public company that produces advanced composite materials (engineering). The company develops and manufactures structural materials including carbon fiber, specialty reinforcements, resins, honeycomb, adhesives, engineered honeycomb composite structures, and prepregs (and other fiber-reinforced matrix materials). Hexcel is a company resulting from the combination of California Reinforced Plastics (founded 1946), Ciba Composites (acquired 1995) and Hercules Composites Products Division (acquired 1995). The company sells its products in commercial, military and recreational markets for use in commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, sports equipment and automotive products. Hexcel works with Airbus Group, The Boeing Company, and others.[2] Since 1980, the firm has publicly traded on the New York Stock Exchange under the ticker symbol HXL. Hexcel is headquartered in Stamford, Connecticut, and has offices and manufacturing facilities in Europe, Asia, North and South America, Russia, and Africa.[3]

History

1948 - 1970s

Hexcel, originally named the California Reinforced Plastics Company, was founded in 1948 by a group of engineers from the University of California at Berkeley.  The company’s first contract was for the research and development of honeycomb materials for use in radar domes on military aircraft.  In 1954, the company changed its name to Hexcel Products, Inc.  The name was derived from the hexagonal cell-shaped honeycomb materials manufactured by the company.[4]

In the 1960s, Hexcel sold aluminum honeycomb and pre-impregnated fiberglass to Hubert A. Zemke and Dave McCoy for use in building skis.[5]

Hexcel expanded from military and commercial aviation to the United States space program.  The landing pads on the lunar module Apollo 11 that carried men to the moon in 1969 were built from Hexcel honeycomb materials.[6][7][8]

In 1970, Hexcel licensed the ski from McCoy. A few years later, Hexcel decided to focus on its core aerospace business and sold the ski enterprise to Chris and Denny Hanson of Hanson Boots.[9]

1980s - 2000

In the 1980s, Hexcel purchased Stevens-Genin S.A., a French company that manufactured glass-fiber and woven industrial materials.[10][11]

In 1981, it provided materials for the nose, doors and wings of the space shuttle Columbia.[12][13] In 1986, Hexcel made most of the material used in the fuselage and wings of the aircraft Voyager – the first aircraft to make a nonstop, around-the-world trip on a single tank of fuel.[14]

2017

Hexcel was selected by Airbus to supply the composite materials for the H160 helicopter’s fuselage structures and rotor blades.[15] Hexcel acquired the aerospace and defense business of Oxford Performance Materials, a manufacturer of carbon fiber-reinforced 3D printed parts for commercial aerospace and space and defense applications.[16]

2018

Hexcel opened a carbon fibre plant at the Les Roches-Roussillon Chemicals Industry Platform in Isère, France. The location is based at the Osiris Chemicals Industry Platform.[17] Hexcel’s composite materials were used as part of a new boat design used in the Tour de France à la voile.[18] The regatta requires all sailors to use the same sails and boat, in this instance, the DIAM 24.  The DIAM’s masts are constructed from Hexcel’s trademarked HexPly M79 prepreg.[18]

Hexcel opened a €200 million ($230 million), 130-employee integrated factory in Salaise-sur-Sanne near Lyon, manufacturing since July 2018 polyacrylonitrile (PAN), the carbon fiber precursor, the second after its Decatur, Alabama plant. The company provides Airbus with over 80% of the carbon fiber it needs and is the main supplier of carbon fiber for Safran, notably for the CFM LEAP fan blades. Hexcel is creating a new R&D site in Les Avenieres, also near Lyon, focusing on out of autoclave processes, including resin-transfer molding and resin film infusion to target lower production costs for Airbus’ future single-aisle family. Using a thermoplastic resin jointly developed with chemicals specialist Arkema, as opposed to thermoset, would accelerate assembly, cut manufacturing costs and lighten structures.[19]

Acquisitions

  • 1996 Ciba Composites[20]
  • 1996 Hercules Composites Products Division[21]
  • 1997 Fiberite satellite prepreg business[22]
  • 2017 - Oxford Performance Materials Aerospace & Defense Business[23]
  • 2017 - Structil SA[24]

References

  1. 1 2 "Nasdaq". Nasdaq. Retrieved 27 August 2018.
  2. ↑ "Composites Will Have Big Presence at 2017 Paris Air Show". Composites Manufacturing.
  3. ↑ "A comparison of the crack tip damage zone for fracture of Hexcel F185 neat resin and T6T145/F185 composite". Online Library.
  4. ↑ Times, Andrew Pollack and Special To the New York. "HEXCEL'S HONEYCOMB SUCCESS". Retrieved 2018-08-30.
  5. ↑ "Hexcel - The Ski Journal". The Ski Journal. Retrieved 2018-08-30.
  6. ↑ "Bulttetin" (PDF). ESA.
  7. ↑ "PressReader.com - Connecting People Through News". www.pressreader.com. Retrieved 2018-08-31.
  8. ↑ Stamatopoulos, Ioannis (2016-07-18). "Hexcel: Time Is A Friend Of This Wonderful Company". Seeking Alpha. Retrieved 2018-08-31.
  9. ↑ "Creator of Hexcel honeycomb skis | International Skiing History Association". www.skiinghistory.org. Retrieved 2018-09-04.
  10. ↑ "History of Hexcel Corporation – FundingUniverse". www.fundinguniverse.com. Retrieved 2018-09-10.
  11. ↑ New Advanced Materials. https://books.google.com/books?id=tKf9CAAAQBAJ&pg=PA120&lpg=PA120&dq=hexcel+stevens+genin&source=bl&ots=gb7_-fwTxl&sig=HeqDtsW7NBENhRMvbqqTQiJH6dA&hl=en&sa=X&ved=2ahUKEwjg5ImHwPDcAhVKJKwKHRBIBSQQ6AEwB3oECAMQAQ#v=onepage&q=hexcel%20stevens%20genin&f=false. p. 120. ISBN 9783540194149.
  12. ↑ "Hexcel anniversary in 2008 marked by investment | JEC Group". www.jeccomposites.com. Retrieved 2018-09-10.
  13. ↑ "Hexcel Corporation - Company Profile, Information, Business Description, History, Background Information on Hexcel Corporation". www.referenceforbusiness.com. Retrieved 2018-09-10.
  14. ↑ Times, Andrew Pollack and Special To the New York. "HEXCEL'S HONEYCOMB SUCCESS". Retrieved 2018-09-25.
  15. ↑ "Hexcel flying high with Airbus and Boeing". www.insidecomposites.com. Retrieved 2018-09-17.
  16. ↑ Black, Sara. "Hexcel acquires Oxford Performance Materials". www.compositesworld.com. Retrieved 2018-09-18.
  17. ↑ "Hexcel opens new carbon fibre production line". www.insidecomposites.com. Retrieved 2018-10-08.
  18. 1 2 Black, Sara. "Flexible cure prepreg finds use in marine and wind". www.compositesworld.com. Retrieved 2018-10-10.
  19. ↑ Thierry Dubois (Oct 11, 2018). "New Carbon Fiber Factory In France Key For Airbus And Safran". Aviation Week & Space Technology.
  20. ↑ Fisher, Lawrence M. "Hexcel to Combine With Ciba Composites Unit". Retrieved 2018-09-14.
  21. ↑ "COMPANY NEWS;HEXCEL BIDS $135 MILLION FOR HERCULES UNIT". Retrieved 2018-09-14.
  22. ↑ "Hexcel Corporation". Retrieved 2018-09-14.
  23. ↑ Zimmerman, Kevin (2017-12-19). "Hexcel completes Oxford Performance Materials acquisition". Westfair Communications. Retrieved 2018-09-28.
  24. ↑ Sloan, Jeff. "JEC World 2018 preview: Hexcel". www.compositesworld.com. Retrieved 2018-09-28.
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