SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
October 9, 1998 (October 5, 1998)
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Date of report (Date of earliest event reported)
Hexcel Corporation
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-8472 94-1109521
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(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
Two Stamford Plaza
281 Tresser Boulevard
Stamford, Connecticut 06901-3238
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(Address of Principal Executive Offices and Zip Code)
(203) 969-0666
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(Registrant's telephone number, including area code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
A copy of the press release issued by Hexcel Corporation, a
Delaware corporation (the "Company") on October 5, 1998 is filed as Exhibit
99.1 to this Current Report and is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma
Financial Information and Exhibits.
(c) Exhibits
99.1 Press Release issued by the Company on October 5, 1998.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: October 9, 1998
HEXCEL CORPORATION
By: /s/ Ira J. Krakower
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Name: Ira J. Krakower
Title: Senior Vice President,
General Counsel and
Secretary
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued by the Company on October 5, 1998
Exhibit 99.1
CONTACT: MEDIA:
RONALD S. ZIEMBA
203-969-0666 EXT. 405
[email protected]
INVESTORS:
STEPHEN C. FORSYTH
203-969-0666 EXT. 425
[email protected]
HEXCEL ANNOUNCES ADDITIONAL STOCK BUYBACK
STAMFORD, CT, October 5, 1998 -- Hexcel Corporation (NYSE/PCX: HXL)
announced today that its board of directors authorized the company to
repurchase up to an additional $10 million of its common stock. The
company also said that its board of directors may approve additional stock
buybacks from time to time subject to market conditions and the terms of
its credit agreements. The purchases may be made in the open market at
prevailing prices or in privately negotiated transactions. The company has
approximately 36,323,705 shares outstanding, with two large stockholders
holding about 60% of these shares.
Hexcel also announced that it completed its previously announced program to
repurchase $10 million of its outstanding common stock. During the period
from August 6, 1998 to September 10, 1998, Hexcel repurchased a total of
811,700 shares at an average cost of $12.32 per share.
Hexcel Corporation is the world's leading advanced structural materials
company. It manufactures lightweight, high performance carbon fibers,
structural fabrics, composite materials and engineered products for use in
commercial aerospace, electronics, space and defense, recreation and
general industrial applications. Hexcel's 1997 revenues were $937 million.
