2.  Our recommendation: Yay

3.  Hexcel is an advanced composites company 1  Two segments: Composite Materials and Engineered Products 1  Manufacturing facilities and sales offices in the United States, Asia Pacific and Europe 1  Incorporated in 1948 2  Headquarters in Stamford, Connecticut 1

4.  Hexcel develops, manufactures and markets lightweight, high-performance composites, including carbon fibers, reinforcements, honeycomb, matrix systems, adhesives and composite structures 1  Used in commercial aerospace, space and defense, and industry 1  Variety of end applications: commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, automotive, bikes, skis 1

5.  Current Price: $8.94  P/E Ratio: 7.85  Beta: 1.60  EPS: 1.14  52-Week Low: $4.49  52-Week High: $26.73  Market Cap: 862.85M  Institutional Ownership: 92% Taken from http://www.google.com/finance?q=NYSE%3AHXL

12.  Q4 and year-end 2008 3 › Released Jan 21, 2009 1  Yearly net sales up 13.9 percent 3  Quarterly EPS Estimate: $0.139 4  Quarterly EPS Actual: $0.16 3 › Compared to $0.20 in 2007 3  Earnings reflect Boeing Worker’s strike 3

13.  Largest US producer of carbon fiber 5  Beat analysts’ estimates despite Boeing strike  Building new plant in Windsor, Colorado 6 › Near Vestas facility that manufactures wind turbines 6  At the moment, few sales to automotive industry—room for huge expansion › Beginning to see very efficient cars that use composites and honeycomb

14.  Supplies both Airbus and Boeing 7 › Almost all production of more efficient aircraft will be done with Hexcel products  Products have wide range of uses  Low in cycle due to Boeing strike › Strike is over, so earnings should increase

15.  Operations in 12 different countries, including China 8  Products are vital to movement for energy efficiency › Can build machines that are lighter, stronger, and more efficient  Building new plant › One of the few companies hiring now 9 › Wide range of talent to pick from 9

16.  GrafTek (GTI) › Not as diversified 10 › No Asia markets 11  Zoltek Companies (ZOLT) › Not as diversified 12 › PE of 49.84 12 › Released unfavorable earnings for Q1, without influence from Boeing strike 13

17. 1. http://www.google.com/finance?q=NYSE%3AHXL http://www.google.com/finance?q=NYSE%3AHXL 2. http://www.hexcel.com/About/Timeline/ http://www.hexcel.com/About/Timeline/ 3. http://www.marketwatch.com/news/story/hexcel-reports-2008-fourth-quarter/story.aspx?guid={751DD7E6-6D9B- 49FF-82D8-EC44F1F24304}&dist=msr_1 http://www.marketwatch.com/news/story/hexcel-reports-2008-fourth-quarter/story.aspx?guid={751DD7E6-6D9B- 49FF-82D8-EC44F1F24304}&dist=msr_1 4. http://finance.aol.com/earnings/hexcel-corporation/hxl/nys/earnings-release http://finance.aol.com/earnings/hexcel-corporation/hxl/nys/earnings-release 5. http://www.hexcel.com/about/ http://www.hexcel.com/about/ 6. http://www.coloradoan.com/article/20090219/WINDSORBEACON01/90218037/1131 http://www.coloradoan.com/article/20090219/WINDSORBEACON01/90218037/1131 7. http://www.reuters.com/finance/stocks/keyDevelopments?symbol=HXL.N&rpc=66&timestamp=20090121220300 http://www.reuters.com/finance/stocks/keyDevelopments?symbol=HXL.N&rpc=66&timestamp=20090121220300 8. http://www.hexcel.com/about/locations/ http://www.hexcel.com/about/locations/ 9. http://www.greeleytribune.com/article/20090318/NEWS/903179864/1002/NONE&parentprofile=1001&title=Hexce l%20job%20fair%20draws%20eager%20crowd http://www.greeleytribune.com/article/20090318/NEWS/903179864/1002/NONE&parentprofile=1001&title=Hexce l%20job%20fair%20draws%20eager%20crowd 10. http://www.google.com/finance?q=gti http://www.google.com/finance?q=gti 11. http://www.graftech.com/CAREER-CENTER/Locations.aspx http://www.graftech.com/CAREER-CENTER/Locations.aspx 12. http://www.google.com/finance?q=zolt http://www.google.com/finance?q=zolt 13. http://www.rttnews.com/ArticleView.aspx?Id=849334&SMap=1