Hexcel-Woodward Merger Called Off | Aviation International News

Hexcel-Woodward Merger Called Off

Deteriorating market conditions due to the Covid-19 crisis prompted Hexcel and Woodward to terminate their merger agreement.

By Gregory Polek • Senior Editor

April 6, 2020

Major Boeing suppliers Hexcel and Woodward have called off their planned merger amid deteriorating market conditions caused by the spread of the Covid-19 virus, the companies announced Monday. The companies announced on January 12 an agreement to combine in an all-stock transaction. However, the pandemic has resulted in a need for each company to concentrate on its respective businesses and has affected their ability to realize the benefits of the merger, they said in a joint statement.

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