Hexcel history

In 1949 California Reinforced Plastics gambled, submitting an intentionally low bid to produce fuel cell support panels for the B-36 bomber; the bid was accepted, further cementing the new company's ties to the defense industry.

With a small amount of capital borrowed from relatives and a staff of three, Harold Heath, a machinist trained at Boeing, purchases a modest machine shop in Renton, WA in 1950.

He left a job as head engineer of an established tool and die company in 1951 to join a company that was operating on a shoestring and struggling to keep up with sales.

Hexcel celebrates 50 years of Redux 775 film adhesive, created in May 1954.

1958 Heath Acquires Tecna Plastics Harold Heath, a journeyman machinist trained at Boeing, acquires Tecna plastics and combines it with his modest machine shop in Renton, Washington.

J.P. Stevens acquires the company in the 1960's, renaming it Stevens-Genin, and the company begins developing fiberglass fabrics for the printed circuit board industry.

In 1961 the company chose a new president, William S. Powell, who subsequently restructured the company's operations, exiting several unprofitable lines of business.

1964 World Speed Record Broken Donald Cambell's revolutionary Bluebird car, incorporating honeycomb core panels supplied from Ciba in Duxford, England, breaks the world speed record.

Most major space structures launched since 1967 use its projects.

In 1968 Hexcel purchased one of its major suppliers, Coast Manufacturing, and that company's three manufacturing plants.

Harvie M. Merrill, who had become CEO and president in 1969, began to seek markets outside of the company's traditional aerospace and defense areas.

The company brought these to market in 1971, the first time it had made something for direct retail sale.

1972 Stevens-Genin Shifts Market Focus Acquired four years previously by J.P. Stevens, the world's second largest textile manufacturer, Pierre Genin & Cie becomes Stevens-Genin and shifts its focus to emerging areas such as composites and electronic components, such as printed circuit boards.

1977 Hexcel Acquires Towers Scientific Hexcel enters the medical field with its acquisitions of Tower Scientific, a company that specializes in the manufacture of custom implants for knee, hip and shoulder joints.

By 1978 the company's sales of honeycomb materials were split 50/50 with other composites, though the bulk of sales were still to defense and aerospace manufacturers.

Hexcel once made the skis itself but sold the business in 1979.

Hexcel stock, which had previously traded on the Pacific Stock Exchange, was listed on the New York Exchange in 1980.

Returning to a focus on its core technologies, the company sold its medical products line soon after its exit from the ski market in 1981.

After Ciba-Geigy acquires a 50% ownership stake in 1984, Danutec diversifies its product line, producing special glass fiber epoxy prepreg for use in windmill rotor blades and industrial grade panels for marine applications.

Hexcel's net income in 1985 increased 31 percent, to $7.7 million, or $1.89 a share.

In 1986 CEO Merrill stepped down, to be replaced by COO Robert L. Witt.

Sales had peaked in fiscal 1988 at $399 million, but dropped off the following year, though Hexcel still posted a profit.

A restructuring was announced in late 1992, with a 20 percent reduction in the company's workforce, and sales or closings of more than a third of its facilities.

In July 1993, CEO Bob Witt resigned, to be replaced by the team of John Lee and John Doyle, both company directors.

The Anaheim, California-based Ciba Composites had 1994 sales of $293 million, just slightly lower than Hexcel's $313.8 million.

1995 Hexcel Emerges from Chapter 11 In February, Hexcel emerges from Chapter 11 and begins consolidating the overcapitalized composites industry.

In June 1996 another major competitor, the Composites Products Division of Hercules, Inc., was acquired.

COMPANY NEWSHEXCEL TO ACQUIRE United States OPERATIONS OF FIBERITEHexcel Corp agrees to acquire most of US operations of Fiberite Inc for about $300 million (S)By Dow JonesApril 22, 1997

In February 1998 Hexcel announced the formation of a joint venture with Boeing and two Malaysian aviation firms to be called Asian Composite Manufacturing Sdn.

Further consolidation of operations occurred in March 1999, when Hexcel announced the closing of a Clark-Schwebel plant in Cleveland, Georgia.

COMPANY NEWSCOMPANY NEWS; HEXCEL TO SELL AIRCRAFT INTERIORS LINE TO BRITAXHexcel Corp agrees to sell its Bellingham aircraft interiors business to Britax International PLC for $116.9 million in cash (S)By Bridge NewsApril 4, 2000

In October 2003, Hexcel opened a new 134,553 sq. ft. production unit at Les Aveniéres, France dedicated entirely to carbon fiber weaving and multiaxial and preforming operations.

2005 Airbus Unveils First A380 Airbus unveils the first A380, which takes its maiden flight.

2006 Hexcel Narrows Its Focus Hexcel decides to narrow its focus and consolidate activities around its carbon fiber, reinforcements for composites, honeycomb, matrix and structures product lines.

2011 Boeing Delivers - Hexcel Expands Boeing delivers the 1st 787 Dreamliner and 1st 747-8.

2012 Hexcel Wins and Expands Sikorsky selects Hexcel for S-97 RAIDER™ helicopter composites.

In July, Vincenzo Nibali and Team Astana win the 2014 Tour de France on bike wheels manufactured by CORIMA using Hexcel’s carbon fiber composites.

Hexcel wins 2015 Bronze Award from Vestas for quality performance and innovative development.

Patrick Winterlich is named to succeed Wayne Pensky as Chief Financial Officer, effective September 2017.

In December 2018, Hexcel announced the hiring of Colleen Pritchett as President - Aerospace, in America.

In March 2019, Hexcel partnered with Lavoiseier Composites to up-cycle composite by-products to reduce CO2 emissions of 13 kg per kg of Carbonium used.

However, as the COVID-19 pandemic gripped the globe, leading to a dramatic decline in air travel, the two companies announced in April 2020 a mutual termination of the merger agreement.