STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 28, 2006--Hexcel
Corporation (NYSE/PCX: HXL) announced that it filed a registration
statement today with the Securities and Exchange Commission for a
proposed secondary offering of 21,433,306 shares of Hexcel's common
stock, representing approximately 23% of Hexcel's total voting power.
An additional 2,143,331 shares may be sold if the underwriters
exercise their option to purchase additional shares in full. Hexcel
has approximately 93 million shares outstanding.
All of the shares being offered will be sold by stockholders of
Hexcel, and therefore Hexcel will not receive any proceeds from the
offering. Approximately 12.8 million shares will be offered by
affiliates of The Goldman Sachs Group, Inc., which together currently
own approximately 15% of the total voting power of Hexcel.
Approximately 8.6 million shares will be offered by affiliates of
Berkshire Partners LLC and Greenbriar Equity Group LLC, which together
currently own approximately 10% of Hexcel's total voting power. Any
shares sold pursuant to the underwriters' option will be sold by the
selling stockholders on a pro-rata basis. The filing of the
registration statement by Hexcel was made pursuant to the exercise of
registration rights held by the selling stockholders.
The joint book-running managers for the offering are Goldman,
Sachs & Co. and Credit Suisse Securities (USA) LLC. Copies of the
prospectus for the offering may be obtained by contacting Goldman,
Sachs & Co., 85 Broad Street, New York, NY 10004 (Tel: 212-902-1000)
or Credit Suisse Securities (USA) LLC, One Madison Avenue, New York,
NY 10010 (Tel: 212-325-2580).
CONTACT: Hexcel Corporation
Stephen C. Forsyth, 203-969-0666 ext. 425
Michael W. Bacal, 203-969-0666 ext. 426
SOURCE: Hexcel Corporation