STAMFORD, CT--(BUSINESS WIRE)--February 10, 2005--Hexcel Corporation (NYSE/PCX: HXL) today announced that it will expand its carbon fiber production capacity through the addition of both a new carbon fiber line and a new precursor line. The expansion, demonstrating Hexcel’s on-going commitment to the aerospace industry, will be completed within three years, increasing Hexcel's carbon fiber production capacity by about 40%. In the near term, Hexcel is increasing the output of its existing carbon operations through incremental capacity improvements.
Commenting on the expansion investment, Mr. David E. Berges, Hexcel's Chairman, Chief Executive Officer and President said, "We are excited by the accelerating demand for carbon fiber composites. Market growth and the increasing penetration of these materials, particularly in commercial aerospace and wind turbine markets, bodes well for Hexcel's prospects. As a world leader in advanced structural materials, Hexcel is committed to supporting this growth through product development and capacity expansion. The expansion will cost about $80 million with most of the cost incurred in 2006 and 2007."
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Hexcel Corporation is a leading advanced structural materials company. It develops, manufactures and markets lightweight, high-performance reinforcement products, composite materials and composite structures for use in commercial aerospace, space and defense, electronics, and industrial applications.