PLEASANTON, CALIF. - Hexcel Corp. may emerge from bankruptcy protection this month after selling its Chandler, Ariz., facility, assets and technology to Northrop Grumman Corp. and its European resins business to a French investor group. Hexcel is on track to complete the sale, for more than $30 million, of the 158,000-square-foot Chandler plant and related assets and technology used to make electromagnetically tailored materials with low radar-observability characteristics. The Pleasanton firm built the plant in 1988, primarily to supply Northrop with material for the U.S. Air Force B-2 bomber.
In a Dec. 29 announcement, Hexcel said it received about $9 million for its epoxy and polyurethane resins and tooling systems plant at St. Ouen-l'Aumune, France, north of Paris, and related subsidiaries in Spain, Germany and Italy. Buyers include the unit's managers, and Paris-based venture capital and investment funds.
Hexcel continues to discuss the sale of its U.S. resins business, based in Chatsworth, Calif.
The firm filed Dec. 6, 1993, for protection under Chapter 11 of the U.S. Bankruptcy Code.