STAMFORD, Conn., July 17, 2018 (GLOBE NEWSWIRE) -- Hexcel Corporation (HXL) and Groupe Gazechim Composites, an official Hexcel distributor for more than 20 years, have reached agreement to provide customized kitting services for advanced composite materials sold to aerospace and defense customers and for high-performance industrial applications.
The joint venture, named HexCut Services, brings together Hexcel - a leader in advanced composites - and Gazechim - a leader in distribution and logistics - to provide pan-European kitting services that will include Hexcel`s innovative carbon fiber prepreg and other composite materials such as adhesives and fabrics for aerospace, defense and industrial applications. Pre-cut kits save customers time and investment, reduce inventory and minimize material losses through scrap reduction.
Gazechim`s existing kitting plant in Maulévrier, 75km east of Nantes (France), acquired in 2016, will be the initial hub for providing pre-cut kits to customers as well as central services in the future to a network of local kitting facilities in Europe.
Thierry Merlot, Hexcel President - Aerospace, Europe, MEA and Asia/Pacific, said, "This is a great opportunity for us to join together with Gazechim, a trusted and well-established partner, to offer our leading advanced composite products to customers in a way that helps them become more productive and profitable."
Gazechim will own a majority share of the joint venture. Jean Guittard, Chairman Gazechim, said, "This project marks a new era between Hexcel and Gazechim and consolidates our long-term partnership of almost 20 years."
Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered core and composite structures for use in commercial aerospace, space and defense and industrial applications.
Kaye Veazey | VP Corporate & Marketing Communications | +1 203.352.0339 | email@example.com
About Groupe Gazechim Composites
Groupe Gazechim is a leading distributor of composite raw materials throughout Europe. The Group distributes, from more than 20 countries, the full range of advanced and commodity composite materials from first-class partners and producers. It also offers supply chain solutions, technical support as well as other services such as tailor made gel coats, honeycombs and kit-cutting capabilities.
Justine Bastier | Marketing & Communication l +33 467495539 l firstname.lastname@example.org
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexcel Corporation via GlobeNewswire