Hexcel has dropped its $300 million bid to take over all of Fiberite after anti-trust concerns over the joining of the two US materials companies. Instead, Hexcel will pay $37 million to acquire Fiberite's satellite-composites business and a free world licence to use its prepreg technology for aerospace applications. In 1996 Hexcel acquired the Ciba and Hercules composites businesses, taking its annual sales close to the $800 million mark.

Source: Flight International