Aerospace jets Hexcel and Cytec to higher sales

By Frank Esposito
Senior Staff Reporter

Published: February 6, 2014 11:42 am ET
Updated: February 11, 2014 11:34 am ET

Related to this story

Topics Materials, Aerospace, Materials Suppliers

Composites makers Hexcel Corp. and Cytec Industries Inc. each posted solid full-year sales gains in 2013.

Stamford, Conn.-based Hexcel saw 2013 sales grow more than 6 percent to almost $1.7 billion, as the firm's profit jumped more than 14 percent to almost $188 million.

At Woodland Park, N.J.-based Cytec, sales climbed more than 13 percent to top $1.9 billion, even as profit slipped almost 2 percent to just under $174 million.

"The large backlog of orders at our major customers suggests that we are well positioned for 2014 and beyond," CEO Nick Stanage said in a Jan. 23 news release.

In 2013, commercial aerospace was Hexcel's largest end market, bringing in almost 65 percent of sales. The firm's plastic-related products include aramid fibers and polyurethane core foams.

Officials at Cytec "are very excited about our reshaped portfolio and the growth opportunities available to us over the next five years," chairman, president and CEO Shane Fleming said in a Jan. 30 news release.

As with Hexcel, aerospace materials played a large role in Cytec's 2013 sales, generating almost half of the firm's total. Plastics-related products made by Cytec include specialty thermoplastic composites and polymer additives such as light stabilizers and antioxidants.

On Wall Street, per-share stock prices for both Hexcel and Cytec have fared well of late. Hexcel's per-share price was under $30 as recently as April, but rose to $45 in mid-January before closing near $41 on Feb. 5 as part of a broader market sell-off. Cytec's per-share price had been near $75 in August, but went above $90 in December and January before returning to $88 on Feb. 5.


Comments

Aerospace jets Hexcel and Cytec to higher sales

By Frank Esposito
Senior Staff Reporter

Published: February 6, 2014 11:42 am ET
Updated: February 11, 2014 11:34 am ET

Post Your Comments


Back to story


More stories

Image

Ukraine's Group DF may be forced to sell Crimea-based additives plant

July 28, 2014 10:12 am ET

Group DF, the industrial business of Ukrainian tycoon Dmitry Firtash, may be forced to sell off Eastern Europe's biggest producer of titanium oxide,...    More

Image

DuPont resins help take Nike golf balls 'Fore!'ward

July 25, 2014 1:07 pm ET

It may be difficult to imagine just how much science, not to mention rubber and plastic components, go into a golf ball. But global giant DuPont Co....    More

Image

Bioplastics maker wins government funding

July 25, 2014 12:13 pm ET

Canadian bioplastics maker Solegear Bioplastics Inc. has won $1.6 million in funding from the government-sponsored Western Innovation Initiative...    More

Image

Report: biodegradeable plastics use in Europe to grow 12 percent

July 25, 2014 10:25 am ET

The biodegradable plastics market in Europe is forecast to witness 12 percent compound growth during 2014-19, according to TechSci Research's...    More

Image

Prices trending up for some recycled resins

July 24, 2014 1:27 pm ET

Plastics News is correcting prices for recycled grades of several commodity resins on this week's resin pricing chart.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events