Hexcel Corp. has voluntarily delisted its shares from trading on the Euronext Paris stock exchange.
The Stamford-headquartered company received approval from Euronext Paris’ board of directors for this action, which it said followed a “comprehensive review of the trading volume, costs and administrative requirements related to its dual-listing of its common stock.” Hexcel will continue to trade its shares on the New York Stock Exchange (NYSE).
As part of the delisting, a voluntary sales facility procedure on the NYSE will be provided by Hexcel to its Euronext stockholders that will enable them to either sell their shares or retain their shares for NYSE trading. Hexcel’s final day of Euronext Paris trading is scheduled for July 25, with the official delisting occurring the following day.
Hexcel is a leading supplier of carbon fiber, honeycomb and other composite materials for the commercial aerospace industry. Founded in 1948, it has 24 manufacturing plants worldwide and 6,600 employees. It had $2.2 billion in sales in 2018.