Composite-materials specialist Hexcel has completed the sale of its European resins business to an investor group led by the management of its former subsidiaries in France, Germany, Italy and Spain. The US company, which plans to emerge from Chapter 11 bankruptcy protection in the first quarter of 1995, realised around $9 million from the sale. A buyer is still being sought for the US resins division. In November 1994, the company sold for a gain of $16 million a plant which produces radar-absorbent composites.
does not operate its own aircraft, offers same-day delivery in the USA and from its warehouses in Canada, Europe and the Far East where critical parts are stored for customers.
Source: Flight International