Business Services Industry
Hexcel Announces the Completion of the Sale of Its U.S. Electronics, Ballistics & General Industrial Reinforcement Product Lines
Business Wire, August 6, 2007
STAMFORD, Conn. -- Hexcel Corporation (NYSE: HXL) today announced that it has completed the previously announced sale of the remaining assets of its U.S. Electronics, Ballistics & General Industrial reinforcement product lines ("EBGI") to JPS Industries Inc. Hexcel has received the agreed upon initial cash purchase price of $62.5 million and it may receive up to $12.5 million of additional payments dependent upon future sales of the Ballistics product line.
Hexcel Corporation is a leading advanced structural materials company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures for use in commercial aerospace, space and defense, and industrial applications.
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