Hexcel Corp. has entered into exclusive negotiations to acquire all of the shares of Structil SA, a French producer and supplier of high-performance composites to the aerospace, defense and industrial markets.
The proposed transaction is subject to review by relevant employee representative bodies and approval from the applicable French authorities. Hexcel said that should those processes be successfully executed, it expected the acquisition would be completed later this year.
Based in Stamford, Hexcel develops, manufactures and markets lightweight, high-performance structural materials including carbon fibers and specialty reinforcements for use in commercial aerospace, space and defense and industrial applications.
Structil is a joint venture between Safran Ceramics ”“ a wholly-owned subsidiary of Safran, a French multinational aerospace, defense, and security company ”“ and Mitsubishi Chemical Corp. The company employs approximately 70 people at a 68,000-square-foot production plant on a 7-acre site in Vert-le-Petit, France, about 25 miles south of Paris.
Structil’s 2016 sales were approximately $21 million. The company”™s product lines include prepregs, structural adhesives and pultruded profiles used in engine nacelles, aerospace interiors, military jets and more.
Hexcel reported record numbers for its fiscal 2016, but posted disappointing first-quarter results in April.
