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Print Edition StoriesMonday, January 25, 2010
Hexcel licenses tech, lands clean energy tax credit
By Mass High Tech staff
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Hexcel Corp., a Stamford, Conn.-based advanced composites firm, has announced its licensing of prepreg technology from Swiss firm Gurit Services AG.
The non-exclusive licensing agreement applies to Gurit’s Sprint technology used in industrial pre-impregnated composite fibers (prepregs) and Hexcel’s past and future use of it. The license will cost Hexcel $7.5 million, applied to its fourth-quarter 2009 charges, for past use of the technology, as well as an undisclosed amount for future use.
Today’s announcement also included the simultaneous news of Hexcel’s receipt of a New Clean Energy Manufacturing Tax Credit of up to $8.1 million. The tax credit, awarded as part of the American Recovery and Reinvestment Act, will apply to Hexcel’s Colorado facility from February 2009 to February 2013. Its 2010 first quarter expenses are expected to bring in more than $3 million in Q1 tax credits.
Hexcel’s composite materials are used in aerospace, defense and industrial applications.
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