Hexcel investor O.S.S. Capital seeks representation on board

By Lisa Kerner

Charlotte, N.C., Oct. 23 - Hexcel Corp. investor O.S.S. Capital Management LP contacted the company on Oct. 22 to suggest several candidates for appointment or election to the board of directors, according to a schedule 13D filing with the Securities and Exchange Commission.

O.S.S.-led investors bought 475,000 shares of Hexcel stock between Oct. 17 and Oct. 22 priced from $20.23 to $22.10.

On July 26, it was reported that O.S.S. sent another letter to company chairman and chief executive officer David Berges reiterating its view that Hexcel is under-earning, that management is failing to address the earnings shortfall and that shareholders are "suffering as a result."

O.S.S. sent similar letters to Berges on April 26 and March 9, 2007.

The reporting persons own 5,285,900 shares, or 5.6%, of the Stamford, Conn., structural materials company's stock.

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