Hexcel (Stamford, Connecticut / USA; www.hexcel.com) has acquired a 50% stake in composite reinforcements producer Formax UK (Dover / UK; www.formax.com). Financial details of the deal were not disclosed. The two companies are no strangers to each other as they have previously cooperated in the development of non-crimp fabrics for Hexcel and its aerospace customers.

Specialised in the production of lightweight carbon fibre multi-axial fabrics as well as highly engineered glass fibre and aramid fibre fabrics, Formax UK is expected to post revenues of USD 45m (about EUR 36m) this year. The company operates a manufacturing plant in Turlock, California / USA.

Hexcel said the reason for buying into Formax UK is to advance knitting technology for aerospace applications and provide scale for growing industrial markets.