New Funding Drives International Growth for Hexcel | Aviation International News

New Funding Drives International Growth for Hexcel

Connecticut-based manufacturing specialist secures $700 million in financing after expanding into Morocco and opening revamped facility in the UK.

July 6, 2016

Look for U.S.-based Hexcel Corp (Chalet B15) to raise its profile in the international aerospace industry. Late last month, U.S.-based composite manufacturing specialist officially opened its newly renovated facility in Duxford, UK. This follows the April groundbreaking of a new Hexcel manufacturing plant in Casablanca, Morocco. Cost of the Duxford renovation was pegged at $10 million, while the new MidParc Free Trade Zone “engineered core facility” in Morocco represents a $20 million investment.

As far as financing for the new projects and further growth, on June 10, Citizens Bank revealed it is leading a $700 million senior credit facility for the Stamford, Connecticut-based company. Hexcel was founded in 1948 and now specializes in developing, manufacturing and marketing lightweight, high-performance carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures. Customers include those with interests in commercial aerospace, space and defense and other industrial applications.

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