-----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, SEChqYaZy0h9jABEfNvTmlleuwSYszTwNqYgY/LOR983OX9B5kcID5o3RrVhD9ZV rczgva7ieIfbU14oyhaL5A== 0000950172-97-000398.txt : 19970430 0000950172-97-000398.hdr.sgml : 19970430 ACCESSION NUMBER: 0000950172-97-000398 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970429 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970429 SROS: NYSE 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: 1934 Act SEC FILE NUMBER: 001-08472 FILM NUMBER: 97589537 BUSINESS ADDRESS: STREET 1: 281 TRESSER BOULEVARD STREET 2: C/O TWO STAMFORD PLZ CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 5108479500 MAIL ADDRESS: STREET 1: 5794 W LAS POSITAS BLVD CITY: PLEASANTON STATE: CA ZIP: 945888781 8-K 1 8-K 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 29, 1997 (April 21, 1997) ________________________________________________ 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 on April 21, 1997 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 Hexcel Corporation on April 21, 1997 Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 29, 1997 HEXCEL CORPORATION By: /s/ Ira J. Krakower Name: Ira J. Krakower Title: Senior Vice President, General Counsel and Secretary EXHIBIT INDEX Exhibit No. Description 99.1 Press Release issued by Hexcel Corporation on April 21, 1997 EX-99 2 EXHIBIT 99.1 - PRESS RELEASE Exhibit 99.1 [HEXCEL LOGO] NEWS RELEASE Hexcel Corporation, 281 Tresser Boulevard Stamford, CT 06901 (203) 969-0666 CONTACT: Ronald S. Ziemba Hexcel Corporation 203-969-0666 ext. 405 HEXCEL CORPORATION AGREES TO ACQUIRE SELECTED ASSETS AND BUSINESSES OF FIBERITE, INC. STAMFORD, CT, April 21, 1997 - Hexcel Corporation (NYSE/PSE:HXL) announced today that it has entered into an agreement to acquire selected assets and businesses of Fiberite, Inc. for about $300 million in cash and certain assumed liabilities. Fiberite, headquartered in Tempe, AZ, is a supplier of advanced composite materials for aerospace, industrial and recreational applications. The lines of business to be acquired by Hexcel include certain prepreg operations, as well as Fiberite's ablatives, carbon- carbon, molding compound and engineered components businesses. These lines of business, which had sales of about $200 million for 1996, are located in Tempe, AZ; Newark, DE; Winona, MN; Delano, PA, and Greenville, TX with a small facility in Courcelles-les-Lens, France. Fiberite's operations in Orange, CA and Oestringen, Germany will not be included in the acquisition. "We at Hexcel are very excited about this transaction," said John J. Lee, the company's chairman and chief executive officer. "It is consistent with our strategic growth objectives, and it positions Hexcel strongly for the year 2000 and beyond. The business lines we are acquiring will expand our portfolio of product offerings into areas where Hexcel does not now operate or has a relatively minor market presence. For example, we see significant potential in broadening Hexcel's participation in future space and defense programs, including the space shuttle, public and private space satellites and military aircraft," he added. "Acquiring these Fiberite operations also will allow us to diversify our commercial aerospace business into new areas, such as materials and parts for jet engines and aircraft brake linings," Mr. Lee said. "The net result will be a better balance between our commercial aerospace business, where Hexcel has historically been well known, and other attractive aerospace markets, such as space and defense. The acquisition also will enable us to expand and diversify our product offerings for general industrial applications," he added. "Fiberite's manufacturing and research facilities and its customer service and technical support functions will broaden our own capabilities in these important areas. And Fiberite has a complement of talented managers and employees who will enhance Hexcel's know-how and expertise in many other ways," Mr. Lee said. The assets of Fiberite to be acquired by Hexcel are to be purchased from Stamford FHI Acquisition Corp., a financial buyer that has agreed to purchase the outstanding stock of Fiberite's parent company, Fiberite Holdings, Inc., from its previous owners, including DLJ Merchant Banking, Inc. The transaction is expected to be completed during the third quarter of 1997, subject to customary conditions of closing and required regulatory approvals. Hexcel Corporation manufactures lightweight, high performance carbon fibers, structural fabrics, composite materials and engineered parts and structures. It sells these products to customers in the commercial aerospace, space and defense, recreation and general industrial markets. Hexcel's 1996 revenues were $695 million. -----END PRIVACY-ENHANCED MESSAGE-----