O.S.S. Capital continues to urge Hexcel to seek alternatives

By Lisa Kerner

Charlotte, N.C., July 26 - Hexcel Corp. investors led by O.S.S. Capital Management LP sent another letter to company chairman and chief executive officer David Berges reiterating their view that Hexcel is under-earning, that management is failing to address the earnings shortfall and that shareholders are "suffering as a result."

"We think that Hexcel would benefit from an independent review of its prospects and strategy with a view toward taking action to maximize shareholder value," O.S.S. said in its letter, included as part of a schedule 13D filing with the Securities and Exchange Commission.

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

The reporting persons own 4,810,900 shares, or 5.1%, of the Stamford, Conn., structural materials company's stock.

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