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Article: Hexcel board approves definitive agreement to combine business with Ciba Composites; Deal expected to close in fourth quarter.
- Article from:
- Business Wire
- Article date:
- October 2, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PLEASANTON, Calif./BASEL, Switzerland--(BUSINESS WIRE)-- Oct. 2, 1995--Hexcel Corp. (NYSE/PSE: "HXL") and Ciba-Geigy Limited ("Ciba") jointly announced today that they have entered into a definitive agreement with respect to the combination of Hexcel's business with that of Ciba Composites.
The terms of the agreement are consistent with the non-binding letter of intent signed on July 11, 1995 -- Ciba would receive approximately 49.9 percent of Hexcel's common stock at the conclusion of the transaction, in exchange for the businesses of Ciba Composites, which include: composites, structures and interiors, fabrics, laminates, prepregs, adhesive films, honeycomb core, ...