Hexcel In Exclusive Negotiations To Acquire Structil - Quick Facts

(RTTNews) - Hexcel Corp. (HXL) announced it 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 acquisition is expected to close in 2017.

Structil is a joint venture between Safran Ceramics, a wholly owned subsidiary of Safran, and Mitsubishi Chemical Corporation. The company employs approximately 70 people at a 68,000-square-foot production plant on a seven-acre site in Vert-le-Petit, France, about 25 miles south of Paris. Structil's 2016 sales were approximately $21 million.