Article: HEXCEL AND CIBA COMPOSITES SIGN LETTER OF INTENT TO COMBINE FORCES IN STRUCTURAL MATERIALS AND PRODUCTS

Plan to Form Company With Complementary Strengths and Over US$600

 
   Million in Worldwide Sales 

Combination Would Create Major Global Presence in Advanced Materials and

 
  Products for Aerospace and Other Industries 
   Ciba to Have 49.9% Stake in Hexcel 

PLEASANTON, Calif. and BASLE, Switzerland, July 12 /PRNewswire/ -- Hexcel Corporation (NYSE: HXL) ("Hexcel") and Ciba-Geigy Limited ("Ciba") today jointly announced that they have signed a letter of intent, subject to various conditions, to combine Ciba's worldwide Composites Division ("Ciba Composites") - including composites, honeycomb, ...

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