Hexcel Corp. (HXL) said that it had entered into a non-exclusive license agreement with Gurit for the past and future use of Gurit's Sprint technology that is utilized in industrial prepregs.
In addition to a license fee for future use, Hexcel will record a one-time charge for past use of $7.5 million in the fourth quarter of 2009 and its after-tax impact will be $5.6 million or almost $0.06 per share.
Further, Hexcel said it has been awarded up to $8.1 million in New Clean Energy Manufacturing Tax Credits as part of the American Recovery and Reinvestment Act. The credit will be on qualifying expenditures incurred at the company's Colorado facility from February 2009 to February 2013.
The company expects to record over $3 million of tax credits in the first quarter of 2010 related to qualifying expenditures already incurred.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.