Hexcel Announces Consolidation Plan; Expects Third Quarter Loss
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Hexcel Corporation and Subsidiaries
Business Consolidation Plan
Projected Financial Summary
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Unaudited
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(In millions) 1999 2000 2001 2002 Total
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Estimated Cash Costs
Cash expenses $ 3 $ 12 $ 2 $ 1 $ 18
Capital expenditures - 4 1 1 6
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Total $ 3 $ 16 $ 3 $ 2 $ 24
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Estimated Expenses
Cash expenses
(including accruals) $ 5 $ 11 $ 1 $ 1 $ 18
Non-cash write downs 12 - - - 12
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Total $ 17 $ 11 $ 1 $ 1 $ 30
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Estimated Cash Savings $ 1 $ 12 $ 23 $ 24 $ 60
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Note: In the second half of 1999, the company expects to
recognize approximately $2 million of business consolidation expenses
related to prior programs, in addition to the estimated consolidation
expenses noted above. The $20 million write-down of the company's
investment in CS-Interglas AG is not an element of the company's
business consolidation plan, and is not reflected in the above totals.
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