This month’s Shining Light company is Hexcel Corporation (Symbol: HXL) which played a key role in putting man on he moon. Headquartered in Stamford Connecticut, Hexcel develops and manufactures structural materials including carbon fiber, specialty reinforcements, resins, honeycomb, adhesives, engineered honeycomb composite structures, and prepregs. The company sells its products in commercial, military, and recreational markets for use in both commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, sports equipment, and automotive products. It currently supplies both Airbus and Boeing.
Hexcel was founded in 1948 by a group of engineers from the University of California at Berkeley, and its first contract was for the research and development of honeycomb materials for use in radar domes on military aircraft. The company changed its name to Hexcel Products, Inc. in 1954, the name deriving from the hexagonal cell-shaped honeycomb materials manufactured by the company.
Initially focusing on military and commercial aviation products, Hexcel expanded its emphasis to the United States space program. In 1969, the Apollo 11 used landing pads built from Hexcel honeycomb materials to land on the moon. In 1981, Hexcel provided materials for the nose, doors, and wings of the space shuttle Columbia, and in 1986, the company made most of the material used in the fuselage and wings of the Voyager, which was the first aircraft to make a nonstop, around-the-world trip on one tank of fuel.
Hexcel was selected to supply the composite material for the Airbus H160 helicopter’s fuselage structures and roto blades in 2017. In another industry-defining move, Hexcel purchased the aerospace and defense business of Oxford Performance Materials, a manufacturer of carbon fiber-reinforced 3D printed parts for commercial aerospace and space and defense applications.
Hexcel takes a customer-driven, values-based approach to business. The strives to “be an industry leader and a responsible steward of resources – both human and natural.” Hexcel places emphasis on the following core values:
- Innovation: Hexcel seeks to embrace the curiosity to explore ideas, the passion to challenge the impossible, and the conviction to succeed beyond expectations.
- Responsibility: Hexcel strives to work with uncompromised integrity on behalf of shareholders, employees, and customers. The company also desires to be good citizens in the communities in which they live and work.
- Accountability: Hexcel is accountable – to customers, shareowners, the community, suppliers and themselves for achieving superior performance by expecting excellence in everything they do.
- One Hexcel: Hexcel thrives on the contributions each person brings to the company by valuing diversity, developing talent, fostering teamwork, and rewarding success.
For more information regarding Hexcel’s commitment to excellence, visit https://www.hexcel.com/About/Sustainability/Hexcel-Values.
Philanthropy & Service
Hexcel has made a steadfast commitment to uplifting and contributing to the flourishing of the communities in which employees live and work. These employees have been involved in dozens of activities such as building houses for low-income families, running races to fund cancer research, and raising money for local community and youth organizations.
Hexcel recognizes that the devastation caused by natural disasters puts a burden on families and businesses. As a result, the company has established a matching contributions program that will match dollar-for-dollar employee contributions made to the American Red Cross after a natural disaster affects an area near one of Hexcel’s U.S. locations.
The Hexcel Foundation Scholarship Program awards renewable scholarships between $2,000 and $5,000 to the children of company employees who plan to pursue post-secondary education in college and vocational programs at any accredited institution of the student’s choice.
For more information regarding Hexcel’s dedication to human flourishing and community involvement, visit https://www.hexcel.com/About/Sustainability/Employee-Volunteerism.
Hexcel is an exemplary company for their innovation that allows for space exploration. More notably, the company cares greatly for its employees and their families, and its host communities. The company also strives to be responsible corporate citizen and steward of human and natural resources alike. For these reasons, we are proud to name Hexcel a Shining Light company!
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DISCLOSURE: Shining Lights companies are those companies we have identified as exemplary companies living out the Golden Rule and exhibiting the virtues of Integrity, Humility, Diligence, Caring and Courage. This is intended for general information purposes concerning only the values, corporate culture and business practices of the companies being spotlighted. It DOES NOT incorporate any analysis of the companies’ investment merit based on intrinsic value, fundamental analysis, etc. This must not be construed as investment advice or a buy/sell recommendation. These companies may or may not be included in our LightPoint Portfolios at any given time.