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Composite materials manufacturer Hexcel Corporation (HXL) has faced difficulties in the wake of the Boeing (BA) 737 MAX fleet grounding and the recent global pandemic. The company recently announced its first quarter earnings where it reported a 41.3% decrease in profits over the same period last year. Profits dropped from roughly $72 million during the first quarter of 2019 to approximately $42 million in the first quarter of 2020. Hexcel Chairman, CEO and President Nick Stanage has stated that the “737 MAX continues to be a headwind with no production at