Company:Hexcel

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Hexcel Corporation
TypePublic
IndustryCommercial aerospace, space and defense and industrial
Founded1948; 78 years ago (1948)
Founders
  • Roger C. Steele
  • Roscoe T. Hughes
Headquarters
Stamford, Connecticut
,
U.S.
Area served
Worldwide
Key people
Tom Gentile (Chairman and CEO)
ProductsComposite materials
RevenueIncrease US$1.90 billion (2024)
Decrease US$186 million (2024)
Increase US$132 million (2024)
Total assetsDecrease US$2.73 billion (2024)
Total equityDecrease US$1.53 billion (2024)
Number of employees
5,894 (2024)
Websitewww.hexcel.com
Footnotes / references
[1]

Hexcel Corporation is an American public industrial materials company, based in Stamford, Connecticut. The company develops and manufactures structural materials. Hexcel was formed from the combination of California Reinforced Plastics (founded 1948), 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.[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.[4] 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.[5]

In the 1960s, Hexcel sold aluminum honeycomb and pre-impregnated fiberglass to Hubert A. Zemke and Dave McCoy for use in building skis.[6]

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.[7][8][9]

In 1970, Hexcel licensed the ski from McCoy.[10] A few years later, Hexcel decided to focus on its core aerospace business and sold the ski enterprise to the ski boot maker Hanson Industries.

1980s–2000

In the 1980s, Hexcel purchased Stevens-Genin S.A., a French company that manufactured glass-fiber and woven industrial materials.[4][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 Rutan Voyager – the first aircraft to make a nonstop, around-the-world trip on a single tank of fuel.[5]

2000–2024

In 2017, Hexcel was selected by Airbus to supply the composite materials for the H160 helicopter's fuselage structures and rotor blades.[14] 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.[15]

In March 2018, Hexcel opened its manufacturing facility at the MidParc Free Trade Zone in Casablanca, Morocco.[16] The facility oversees the transformation of lightweight honeycomb materials into engineered core parts for aircraft structures, engine nacelles and helicopter blades. Hexcel also signed a strategic alliance with Arkema in Colombes, France, to combine work in carbon fiber and PEKK.[17] The alliance will result in a joint research and development laboratory in France. The companies aim to develop carbon fiber-reinforced thermoplastic tapes to produce lightweight parts for aircraft.[18]

Also in 2018, Hexcel opened a carbon fiber plant at the Les Roches-Roussillon Chemicals Industry Platform in Isère, France.[19] The plant is based at the Osiris Chemicals Industry Platform.[20] Hexcel's composite materials were used as part of a new boat design used in the Tour de France à la voile.[21]

In July 2018, Hexcel opened an integrated factory in Salaise-sur-Sanne near Lyon, manufacturing polyacrylonitrile (PAN), the carbon fiber precursor, the second after its Decatur, Alabama plant.

In December 2018, Hexcel announced the hiring of Colleen Pritchett as President - Aerospace, in America.[22]

On May 1st, 2024, Tom Gentile was named CEO following Nick Stanage’s retirement.

Financial data

Annual financials for Hexcel Corp.[23]
Annual Financials 2017 2018 2019 2020 2021
Sales/revenue 1.99B 2.19B 2.37B 1.51B 1.32B
Cost of goods sold 1.42B 1.61B 1.72B 1.26B 1.07B
Gross income 572M 581.7M 650.5M 243.3M 248.9M

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. [24]

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.[24] Using a thermoplastic resin jointly developed with chemicals specialist Arkema, as opposed to thermoset, would accelerate assembly, cut manufacturing costs and lighten structures.[24]

Acquisitions

  • 1996 – Ciba Composites[25]
  • 1996 – Hercules Composites Products Division[26]
  • 1997 – Fiberite satellite prepreg business[27]
  • 2017 – Oxford Performance Materials Aerospace & Defense Business[28]
  • 2017 – Structil SA[29]
  • 2018 - ARC Technologies[30]

References

  1. ↑ "2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 5, 2025. https://www.sec.gov/ix?doc=/Archives/edgar/data/717605/000095017025014412/hxl-20241231.htm. 
  2. ↑ "Composites Will Have Big Presence at 2017 Paris Air Show". Composites Manufacturing. 2017-06-19. http://compositesmanufacturingmagazine.com/2017/06/composites-will-big-presence-2017-paris-air-show/. 
  3. ↑ Chakachery, E. A.; Bradley, W. L. (1987). "A comparison of the crack tip damage zone for fracture of Hexcel F185 neat resin and T6T145/F185 composite". Polymer Engineering and Science 27: 33–40. doi:10.1002/pen.760270106. 
  4. ↑ 4.0 4.1 "History of Hexcel Corporation Universe" (in en). http://www.fundinguniverse.com/company-histories/hexcel-corporation-history/. 
  5. ↑ 5.0 5.1 Pollack, Andrew (15 October 1986). "Hexcel's Honeycomb Success" (in en). The New York Times. https://www.nytimes.com/1986/10/15/business/hexcel-s-honeycomb-success.html. 
  6. ↑ "Hexcel" (in en-US). The Ski Journal. 2016. https://www.theskijournal.com/issue_feature/hexcel/. 
  7. ↑ Doengi, F.; Burnage, S.T.; Cottard, H.; Roumeas, R. (February 1998). Lander Shock-Alleviation Techniques. http://www.esa.int/esapub/bulletin/bullet93/DOENGI.pdf. 
  8. ↑ "Hexcel". The Republican Herald. 2017-09-28. https://www.pressreader.com/usa/the-republican-herald/20170928/282248075756127. 
  9. ↑ Stamatopoulos, Ioannis (2016-07-18). "Hexcel: Time Is A Friend Of This Wonderful Company" (in en-US). Seeking Alpha. https://seekingalpha.com/article/3988994-hexcel-time-friend-wonderful-company. 
  10. ↑ "Dave McCoy, founder of Mammoth Mountain, dies at 104" (in en-US). 2020-02-09. https://www.ocregister.com/dave-mccoy-founder-of-mammoth-mountain-dies-at-104. 
  11. ↑ Cohendet, Patrick; Ledoux, Marc J.; Zuscovitch, Ehud (2012-12-06). New Advanced Materials. Springer. pp. 120. ISBN 9783540194149. https://books.google.com/books?id=tKf9CAAAQBAJ&q=hexcel+stevens+genin&pg=PA120. 
  12. ↑ "Hexcel anniversary in 2008 marked by investment" (in en). 2011-04-18. http://www.jeccomposites.com/knowledge/international-composites-news/hexcel-anniversary-2008-marked-investment. 
  13. ↑ "Hexcel Corporation - Company Profile, Information, Business Description, History, Background Information". https://www.referenceforbusiness.com/history2/21/Hexcel-Corporation.html. 
  14. ↑ "Hexcel flying high with Airbus and Boeing". https://www.insidecomposites.com/hexcel-flying-high-with-airbus-and-boeing/. 
  15. ↑ Black, Sara. "Hexcel acquires Oxford Performance Materials". https://www.compositesworld.com/news/hexcel-acquires-oxford-performance-materials. 
  16. ↑ Francis, Scott. "Hexcel celebrates Casablanca facility grand opening". https://www.compositesworld.com/news/hexcel-celebrates-casablanca-facility-grand-opening. 
  17. ↑ Francis, Scott. "Hexcel and Arkema partner to develop aerospace thermoplastic composites". https://www.compositesworld.com/news/hexcel-and-arkema-partner-to-develop-aerospace-thermoplastic-composites-solutions. 
  18. ↑ Francis, Scott. "Hexcel and Arkema partner to develop aerospace thermoplastic composites". https://www.compositesworld.com/news/hexcel-and-arkema-partner-to-develop-aerospace-thermoplastic-composites-solutions. 
  19. ↑ "Hexcel opens carbon fiber plant". https://www.materialstoday.com/carbon-fiber/news/hexcel-opens-carbon-fiber-plant/. 
  20. ↑ "Hexcel opens new carbon fibre production line". https://www.insidecomposites.com/hexcel-opens-new-carbon-fibre-production-line/. 
  21. ↑ Black, Sara. "Flexible cure prepreg finds use in marine and wind". https://www.compositesworld.com/blog/post/flexible-cure-prepreg-finds-use-in-marine-and-wind. 
  22. ↑ Borneman, Jim (6 December 2018). "Hexcel Hires Colleen Pritchett As President" (in en-US). https://www.textileworld.com/textile-world/nonwovens-technical-textiles/2018/12/hexcel-hires-colleen-pritchett-as-president-aerospace-americas/. 
  23. ↑ "Hexcel Corp." (in en). https://www.marketwatch.com/investing/stock/hxl. 
  24. ↑ 24.0 24.1 24.2 Thierry Dubois (Oct 11, 2018). "New Carbon Fiber Factory In France Key For Airbus And Safran". Aviation Week & Space Technology. http://aviationweek.com/commercial-aviation/new-carbon-fiber-factory-france-key-airbus-and-safran. 
  25. ↑ Fisher, Lawrence M. (13 July 1995). "Hexcel to Combine With Ciba Composites Unit" (in en). The New York Times. https://www.nytimes.com/1995/07/13/business/hexcel-to-combine-with-ciba-composites-unit.html. 
  26. ↑ Jones, Dow (17 April 1996). "Company News; Hexcel Bids $135 Million For Hercules Unit" (in en). The New York Times. https://www.nytimes.com/1996/04/17/business/company-news-hexcel-bids-135-million-for-hercules-unit.html. 
  27. ↑ "Hexcel Corporation" (in en). The New York Times. https://www.nytimes.com/topic/company/hexcel-corporation. 
  28. ↑ Zimmerman, Kevin (2017-12-19). "Hexcel completes Oxford Performance Materials acquisition" (in en-US). Westfair Communications. https://westfaironline.com/97266/hexcel-completes-oxford-performance-materials-acquisition/. 
  29. ↑ Sloan, Jeff. "JEC World 2018 preview: Hexcel". https://www.compositesworld.com/products/jec-world-2018-preview-hexcel. 
  30. ↑ "Hexcel to Acquire ARC Technologies" (in en). 2018-12-05. https://netcomposites.com/news/2018/december/11/hexcel-to-acquire-arc-technologies/. 

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