-----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, Den94+wptrskImge+3k/hg33qaH5imD937Vk50vqWTmaWcwKBA0z2uy5eQe5g8Yz eYEVMy7VEBpg5L7baVpKaw== 0000950172-99-000254.txt : 19990318 0000950172-99-000254.hdr.sgml : 19990318 ACCESSION NUMBER: 0000950172-99-000254 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990117 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990317 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: 99566847 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 January 17, 1999 (January 16, 1999) ------------------------------------------------ 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 March 16, 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 March 16, 1999. 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: March 17, 1999 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 March 16, 1999 EX-99 2 EXHIBIT 99.1 - PRESS RELEASE Exhibit 99.1 Contacts Investors: Bruce D. Herman 203-969-0666 ext. 407 bruce.herman@hexcel.com Media: Ronald S. Ziemba 203-969-0666 ext. 405 ronald.ziemba@hexcel.com HEXCEL CORPORATION ANNOUNCES CLOSING OF ITS CLEVELAND, GEORGIA FACILITY Decision Reflects Market Conditions, Efforts to Consolidate Operations STAMFORD, CT, March 16, 1999 -- Hexcel Corporation (NYSE/PCX: HXL) announced today that the company's Hexcel Schwebel global business unit will close its Cleveland, GA manufacturing facility. The plant closing is due to be completed by July 1, 1999. The facility, opened in 1980, currently employs 100 people and produces fabrics used to make rigid, single-sided and double-sided printed wiring boards. Production equipment from the Cleveland facility will be moved to the Hexcel Schwebel facility in Anderson, SC. "The decision to close our Cleveland facility is a direct result of continuing efforts to consolidate our operations, reduce operating costs and respond to competitive market conditions," said William D. Bennison, president of Hexcel Schwebel. "The market for products made in Cleveland was affected by inventory adjustments in 1998, and currently is under intense pressure from Asian and Eastern European competitors," he added. "Notwithstanding these factors, we believe that strong consumer demand for cellular telephones, computers and other personal electronic devices, combined with Hexcel Schwebel's leading market position in lightweight fabrics for high-tech multilayer printed wiring boards, offer attractive potential for the future," Mr. Bennison said. Hexcel Schwebel was formed in late 1998, when Hexcel Corporation, based in Stamford, CT, acquired the business of Clark-Schwebel, Inc., of Anderson, SC. Hexcel is the world's leading advanced structural materials company, with pro forma 1998 sales of $1.235 billion. - ----------------------------------------------------------------------------- Disclaimer on Forward Looking Statements This press release contains statements that are forward looking, including statements relating to market conditions, the impact of pricing pressures from competitors and the recovery of the electronics market. 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, the integration by Hexcel of the acquired Clark-Schwebel business without disruption to operations; changing market conditions, particularly in Europe and Asia; increased competition; and changes in current pricing levels. 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-----