STAMFORD, Conn., Oct. 13, 2016 (GLOBE NEWSWIRE) -- Hexcel Corporation (NYSE:HXL) today announced that two key contracts to supply advanced composites to Airbus Group have been amended. Hexcel expects these contracts to generate total sales of $15 billion for the duration of the contract.
The existing contract relating to Hexcel products supplied for commercial aircraft, helicopters, space and military programs has been amended. Specific commercial programs covered include the A350XWB secondary structures, A380, the A320 and A330 family, and ATR commercial aircraft. The NH90, Tiger and EC135 helicopter programs are also included, as are the A400M military transporter and Ariane launch vehicle. Hexcel supplies a wide range of composite materials for these programs including fabrics, resins, prepregs and adhesives.
A second contract to supply HexPly® M21E/IMA carbon fiber prepreg for the primary structures of the Airbus A350XWB aircraft has been extended through 2030. This contract covers the entire family of the A350XWB aircraft including the A350-1000.
Hexcel Chairman, Chief Executive Officer and President Nick Stanage, said, “As an advanced composites industry leader, we are extremely proud to continue our long and rewarding partnership with the Airbus Group and are excited to take our relationship to a new level. The contract amendments and extensions are the result of years of product innovation, operational excellence and hard work by Hexcel employees and our partners. We look forward to our continued partnership with Airbus Group to develop innovative solutions to maintain their competitive objectives.”
Certain statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Achieving the estimated level of Hexcel’s sales under these contracts involves a number of risks, uncertainties and other factors that could cause actual results to differ materially from estimates, among which are the actual requirements of Airbus for Hexcel’s products, the interruption or cancellation of key Airbus programs, disruption in the supply chain, and changes to the design requirements leading to use of materials not supplied by Hexcel could lead to materially different results for Hexcel. For a description of other factors see Hexcel’s filings with the Securities and Exchange Commission. Hexcel undertakes no obligation to update forward-looking statements.
Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications.
Contact information Michael W. Bacal (203) 352-6826 email@example.com