c2i expands after its tie-up with LG
Car and airplane carbon fiber components maker c2i posted a drop in sales last year, from €22m in 2016. Its founder Patrick Hessel sold a 50.1% stake to LG Hausys of South Korea a year ago. The Koreans paid him €40m, and put another €10m into the company. Last year, c2i signed new contracts with Porsche and Airbus that should drive its sales up 50% this year. Its workforce will grow by 100 to 500. The company has applied for €10m in EU funds for a carbon parts research center. Unlike many dubious firms, c2i did not get the money. LG will build the research center in South Korea instead.