-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NN2ktjz8prQhD+9EOxGED+tHlTUDb069NOskya6B/OmXwaOGj/5Az/lNxEqXndHX YJ4pgsmRSiZDinNqs+OJiw== 0000717605-00-000007.txt : 20000407 0000717605-00-000007.hdr.sgml : 20000407 ACCESSION NUMBER: 0000717605-00-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000403 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEXCEL CORP /DE/ CENTRAL INDEX KEY: 0000717605 STANDARD INDUSTRIAL CLASSIFICATION: METAL FORGING & STAMPINGS [3460] IRS NUMBER: 941109521 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08472 FILM NUMBER: 594880 BUSINESS ADDRESS: STREET 1: 281 TRESSER BOULEVARD STREET 2: TWO STAMFORD PLZ CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2039690666 MAIL ADDRESS: STREET 1: 281 TRESSER BLVD. STREET 2: TWO STAMFORD PLAZA, 16TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06901-8781 8-K 1 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 April 6, 2000(April 3, 2000) ------------------------------------------------ Date of report (Date of earliest event reported) Hexcel Corporation ------------------------------------------------------ (Exact Name of Registrant as Specified in Charter) Delaware 1-8472 94-1109521 -------------- --------------------- ------------------ (State of (Commission File No.) (IRS Employer Incorporation) Identification No.) Two Stamford Plaza 281 Tresser Boulevard Stamford, Connecticut 06901-3238 ------------------------------------------------------------ (Address of Principal Executive Offices and Zip Code) (203) 969-0666 ---------------------------------------------------- (Registrant's telephone number, including area code) N/A ------------------------------------------------------------- (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 April 3, 2000 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 April 3, 2000. 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: April 6, 2000 HEXCEL CORPORATION By: /s/ Kirk G. Forbeck ------------------------------------ Name: Kirk G. Forbeck Title: Chief Accounting Officer EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press Release issued by the Company on April 3, 2000 EX-99 2 EXHIBIT 99.1 - PRESS RELEASE EXHIBIT 99.1 NEWS RELEASE Hexcel Corporation, 281 Tresser Boulevard, Stamford, CT 06901 (203) 969-0666 Contact: Investors: Stephen C. Forsyth 203-969-0666 ext. 425 stephen.forsyth@hexcel.com -------------------------- Media: Michael W. Bacal 203-969-0666 ext. 426 michael.bacal@hexcel.com ------------------------ HEXCEL ENTERS INTO AN AGREEMENT TO SELL ITS BELLINGHAM INTERIORS BUSINESS TO BRITAX INTERNATIONAL PLC STAMFORD, CT, April 3, 2000 - Hexcel Corporation (NYSE/PCX: HXL) and Britax International plc today announced that they have entered into a definitive agreement whereby Britax will purchase Hexcel's Bellingham aircraft interiors business for $116.9 million. The purchase price will be paid in cash. This transaction has resulted from Hexcel's previously announced strategic review of its Engineered Products business. Mr. John J. Lee, Hexcel's Chairman & CEO commented: "This transaction is part of our ongoing efforts to optimize our business portfolio, and focus on Hexcel's advanced materials technologies. The net proceeds from the transaction will be used to further reduce the company's debt. We continue to evaluate strategic alternatives for the Kent business within our Engineered Products business segment. The sale of the Bellingham business is subject to customary closing conditions and is expected to be completed in the second quarter." Hexcel's Bellingham business is a leader in the design, engineering and manufacture of commercial aircraft interior components and systems for OEM and airline refurbishment applications. Its products include the innovative stowage bin shelf extension kit that increases passenger carry-on luggage capacity on existing aircraft and consequently speeds gate operations for airlines. The Bellingham business had 1999 revenues of $69.1 million and EBITDA of $8.5 million. Hexcel acquired the Bellingham business as part of its 1996 acquisition of Ciba Geigy's worldwide composites business. The business employs approximately 325 people. Credit Suisse First Boston acted as Hexcel's financial advisor on the transaction. Lazard acted as financial advisors to Britax International, plc. * * * 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, and industrial applications. Britax International plc is a design led manufacturing and marketing company with worldwide interests in aircraft interior systems, rear vision systems, child care safety systems and specialized vehicle systems. - -------------------------------------------------------------------------------- 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. - -------------------------------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----