The US-based composite materials and structural parts manufacturer, has taken over Leicester-based composite reinforcements manufacturer Formax.
Hexcel had acquired a 50% interest in the company in December 2014.
The group said the purchase of the remaining interest in Formax would allow it to advance dry reinforcements technology for future aerospace applications.
Hexcel chairman Nick Stanage, said: “Our joint venture has demonstrated how well Formax technologies and products complement our product line and will help us grow our aerospace and industrial businesses.
“We believe that fully integrating the Formax operations into Hexcel will enable us to accelerate the synergies between our operations and enhance our abilities to provide innovative solutions to our customers.
“We welcome Formax to our company, and we're looking forward to a successful future together.”