Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Hexcel Corporation    HXL

HEXCEL CORPORATION

(HXL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Aerospace and defense suppliers Woodward, Hexcel combining

share with twitter share with LinkedIn share with facebook
share via e-mail
01/13/2020 | 08:17am EDT

Woodward and Hexcel are merging in an all-stock deal that would create one of the largest suppliers in the aerospace and defense industry.

The companies say the tie-up will allow them to create more efficient aircraft that will reduce emissions, a big hurdle for the aerospace industry.

“The future of flight and energy efficiency will be defined by next-generation platforms delivering lower cost of ownership, reduced emissions, and enhanced safety – and a combined Hexcel and Woodward will be at the forefront of this evolution," Hexcel CEO Nick Stanage said in a prepared statement.

Hexcel's stock jumped 9.6% at the opening bell Monday. Shares of Woodward rose 5.1%.

The new company, called Woodward Hexcel, will generate more than $5 billion in annual sales with a market capitalization nearing $14 billion and more than 16,000 employees.

Woodward Hexcel will have manufacturing operations in 14 countries on five continents.

Both companies supply Airbus and Boeing, including parts for the 737 Max. With Boeing ensnared in one if its biggest crisis following the crash of two of its marquee aircraft, industry analysts speculate the deal may have been pushed forward to better position the combined company with Airbus.

“With Airbus’ share of the commercial aerospace market likely to gradually rise, Woodward believes Hexcel’s strong European sales force and Airbus market position should help it rapidly expand its market position," analyst Nicholas Heymann of William Blair wrote.

Hexcel shareholders will receive a fixed exchange ratio of 0.625 shares of Woodward Inc. common stock for each share of Hexcel Corp. stock that they own. Woodward shareholders will continue to own the same number of shares in the combined company as they do immediately prior to the closing.

Existing Woodward shareholders will own about 55% of the combined company, with Hexcel shareholders owing about 45%.

Stanage will serve as CEO of the combined company. Woodward President, Chairman and CEO Tom Gendron will serve as executive chairman of the combined company until the first anniversary of the merger's closing. At that time Gendron plans to retire and will then serve as non-executive chairman of the combined company until the second anniversary of the merger's closing. At that point, Stanage will take on the additional role of chairman.

The combined company’s board will have 10 members, consisting of five directors from each company, including Gendron and Stanage.

The combined business will be based in Fort Collins, Colorado, where Woodward has its headquarters. Hexcel is based in Stamford, Connecticut.

The deal is expected to close in the third quarter. It still needs approval from the shareholders of both companies, as well as regulatory approvals.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed., source Associated Press News

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) 1.01% 124.52 Delayed Quote.-62.16%
HEXCEL CORPORATION -3.51% 31.59 Delayed Quote.-56.91%
WOODWARD, INC. -3.48% 51.25 Delayed Quote.-56.73%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HEXCEL CORPORATION
03/25FARUQI & FARUQI, LLP : Announces Filing of a Class Action Lawsuit Against Hexcel..
PR
03/12HEXCEL : Moore Kuehn Encourages HXL, AVX, AMTD, and WLTW Investors to Contact La..
PR
03/03HEXCEL : at JEC World 2020
AQ
02/18HEXCEL : DE/ Management's Discussion and Analysis of Financial Condition and Res..
AQ
02/18HEXCEL : Automotive Showcases E-Coat Compatible Prepregs and Self- Adhesive Epox..
AQ
02/18HEXCEL : Complete Composite Solutions for Marine at JEC World 2020
AQ
02/13HEXCEL CORPORATION : Ex-dividend day for
FA
02/10HEXCEL : and NaCa Systems Develop Hybrid Carbon and Wood Fiber Composite Car Sea..
AQ
02/03HEXCEL : 4Q Earnings Snapshot
AQ
02/03HEXCEL CORP /DE/ : Results of Operations and Financial Condition, Regulation FD ..
AQ
More news
Financials (USD)
Sales 2020 2 284 M
EBIT 2020 409 M
Net income 2020 283 M
Debt 2020 820 M
Yield 2020 2,12%
P/E ratio 2020 9,68x
P/E ratio 2021 8,75x
EV / Sales2020 1,55x
EV / Sales2021 1,40x
Capitalization 2 729 M
Chart HEXCEL CORPORATION
Duration : Period :
Hexcel Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HEXCEL CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 61,36  $
Last Close Price 32,74  $
Spread / Highest target 175%
Spread / Average Target 87,4%
Spread / Lowest Target -17,5%
EPS Revisions
Managers
NameTitle
Nick L. Stanage Chairman, President & Chief Executive Officer
Patrick Joseph Winterlich Chief Financial Officer & Executive Vice PresidenT
Don Morrison Chief Information Officer & Senior Vice President
Paul Dominic Mackenzie Chief Technology Officer & Senior Vice President
Jeffrey C. Campbell Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HEXCEL CORPORATION-56.91%3 100
LOCKHEED MARTIN CORPORATION-9.99%95 487
UNITED TECHNOLOGIES CORPORATION-66.66%80 960
NORTHROP GRUMMAN CORPORATION-8.63%50 719
L3HARRIS TECHNOLOGIES, INC.-9.79%39 067
GENERAL DYNAMICS CORPORATION-27.46%38 311