-----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, Rhgo7rvyIgFbsZq6/j5sj/IrSs3903iqEVR+nlhKRCBWhpMbGCjURTaxdYpmPvH5 HIRyMq8vBOpYPG4tplI56w== 0000950172-98-000768.txt : 19980812 0000950172-98-000768.hdr.sgml : 19980812 ACCESSION NUMBER: 0000950172-98-000768 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980811 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980811 SROS: NYSE SROS: PCX 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: 98682280 BUSINESS ADDRESS: STREET 1: 281 TRESSER BOULEVARD STREET 2: C/O TWO STAMFORD PLZ CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2039690666 MAIL ADDRESS: STREET 1: 5794 W LAS POSITAS BLVD CITY: PLEASANTON STATE: CA ZIP: 945888781 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 August 11, 1998 (August 5, 1998) ________________________________________________ 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 August 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 August 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: August 11, 1998 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 the Company on August 5, 1998 EX-99 2 EXHIBIT 99.1 - PRESS RELEASE Exhibit 99.1 Contacts Investors: Stephen C. Forsyth 203-969-0666 ext. 425 stephen.forsyth@hexcel.com Media: Ronald S. Ziemba 203-969-0666 ext. 405 ron.ziemba@hexcel.com HEXCEL ANNOUNCES STOCK BUYBACK PLAN STAMFORD, CT, August 5, 1998 Hexcel Corporation (NYSE/PCX: HXL) announced today that its board of directors has authorized the company to repurchase up to $10 million of its common stock. The board of directors may also approve additional stock buybacks from time to time subject to the terms of its credit agreements. The purchases will be made in the open market at prevailing prices or in privately negotiated transactions at then prevailing prices. The company has approximately 36,922,000 shares outstanding with two large stockholders holding about 59% of these shares. John J. Lee, the company's chairman & chief executive officer stated: "At current market prices, an investment in our common stock is one of the most attractive investments available today. While we expect shortly to complete the previously announced Clark-Schwebel transaction and we will continue also to undertake capital investment projects, it is hard to find a better investment for a portion of our operating cash flow than the purchase of our own shares." 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, space and defense, recreation and general industrial applications. * * * * * * * * * * * DISCLAIMER ON FORWARD LOOKING STATEMENTS This press release contains statements that are forward looking, including statements relating to strategic acquisitions, sales, gross margin percentage, backlog, currency, income taxes and diluted earnings per share. These statements are not projections or assured results. Actual results may differ materially from the results anticipated in the forward looking statements due to a variety of factors, including but not limited to, changing market conditions, particularly in Asia, increased competition, product mix and currency. 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-----