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
December 8, 1999 (December 7, 1999)
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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 December 7, 1999 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 December 7, 1999.
<PAGE>
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: December 8, 1999
HEXCEL CORPORATION
By: /s/ Kirk G. Forbeck
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Name: Kirk G. Forbeck
Title: Chief Accounting Officer
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release issued by the Company on December 7, 1999
EXHIBIT 99.1
NEWS RELEASE
HEXCEL CORPORATION, 281 TRESSER BOULEVARD, STAMFORD, CT 06901 (203) 969-0666
CONTACTS INVESTORS:
STEPHEN C. FORSYTH
203-969-0666 EXT. 425
[email protected]
MEDIA:
DAVID M. WONG
203-969-0666 EXT. 422
[email protected]
HEXCEL ANNOUNCES IT IS REVIEWING THE STRATEGIC OPTIONS FOR ITS
ENGINEERED PRODUCTS BUSINESS
STAMFORD, CT, December 7, 1999 - Hexcel Corporation (NYSE/PCX: HXL) today
announced it has retained Credit Suisse First Boston to explore strategic
alternatives for its Engineered Products business, including a possible sale.
Mr. John J. Lee, Chairman & CEO, commented: "Hexcel today operates in a broad
range of applications and product technologies. As we optimize our business
portfolio, it is important to understand the strategic opportunities and
investment needs of each segment of our business. We can then decide how we will
prioritize further management focus and investments among the business
segments."
Hexcel's Engineered Products business is a leader in the design, engineering and
fabrication of composite structures and interiors. The business, formally known
as Heath Tecna, is organized into two business units. Hexcel Structures (Kent
division) is focused on the production of composite structural and interior
components for new commercial and military aircraft. Hexcel Interiors
(Bellingham division) designs and manufactures commercial aircraft interior
components and systems for OEM, refurbishment and reconfiguration applications.
Its products include Hexcel's innovative stowage bin expansion kit that
increases passenger carry-on luggage capacity on existing aircraft and
consequently speeds gate operations for airlines.
Hexcel acquired the Engineered Products business as part of its 1996 acquisition
of Ciba Geigy's worldwide composites business. The Engineered Products business
employs approximately 1,400 people and has its headquarters and facilities in
Kent and Bellingham, WA.
* * *
Hexcel Corporation is the world's leading advanced structural materials company.
It designs, manufactures and markets lightweight, high reinforcement products,
composite materials and engineered products for use in commercial aerospace,
space and defense, electronics, general industrial, and recreation applications.
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DISCLAIMER ON FORWARD LOOKING STATEMENTS
This press release contains statements that are forward looking, including
statements relating to Hexcel's mix of application markets and product
technologies, and its plans and timing of a strategic review of the options for
its engineered products business. Additional risk factors are described in the
company's filings with the SEC. The company does not undertake an obligation to
update its forward looking statements to reflect future events or circumstances.
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