<SEC-DOCUMENT>0000930413-21-000021.txt : 20210226
<SEC-HEADER>0000930413-21-000021.hdr.sgml : 20210226
<ACCEPTANCE-DATETIME>20210112075954
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000930413-21-000021
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HEXCEL CORP /DE/
		CENTRAL INDEX KEY:			0000717605
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821]
		IRS NUMBER:				941109521
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		TWO STAMFORD PLAZA
		STREET 2:		281 TRESSER BLVD., 16TH FLOOR
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		203-969-0666

	MAIL ADDRESS:	
		STREET 1:		TWO STAMFORD PLAZA
		STREET 2:		281 TRESSER BLVD., 16TH FLOOR
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><IMG SRC="x1_c100884a001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">January 12, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance<BR>
Office of Life Sciences</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 80pt; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Attention:</font></td>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 10pt Times New Roman, Times, Serif">Ms. Mary Beth Breslin, Legal Branch Chief, Division of Corporation Finance</font></td></tr>
</table>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 80pt">&nbsp;</td>
    <TD STYLE="width: 36pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>RE:</b></font></td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Hexcel Corporation</b></font></td></tr>
<TR STYLE="vertical-align: top">
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Form 10-K for the Fiscal Year Ended December 31, 2019</b></font></td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Filed February 18, 2020</b></font></td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>File No. 001-08472</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dear Ms. Breslin:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On behalf of Hexcel Corporation (the &ldquo;Company&rdquo;), please
find the Company&rsquo;s response to the December 28, 2020 letter of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
to Gail E. Lehman, Executive Vice President, General Counsel and Secretary of the Company, in reference to the above Annual Report.
For reference purposes, the Commission&rsquo;s comment is reproduced below with the Company&rsquo;s response immediately following.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Form 10-K for the Fiscal Year Ended December 31, 2019</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>General</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 18pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1<I>.</I></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>We note that your forum selection provision in Section 54 of your bylaws identifies the Court of Chancery of the State of Delaware (or, in the event that the Court of Chancery lacks subject matter jurisdiction over any such action or proceeding, another state or federal court located within the State of Delaware) as the exclusive forum for certain litigation, including any &ldquo;derivative action.&rdquo; In future filings, please describe this provision, including the relevant forum for litigation and any subject matter jurisdiction carve out, and whether this provision applies to actions arising under the Securities Act or Exchange Act.&nbsp;&nbsp;If so, please also state that there is uncertainty as to whether a court would enforce such provision and include risk factor disclosure of the risks to investors, such as the increased costs to bring a claim and that the provision may discourage claims or limit investors&rsquo; ability to bring a claim in a judicial forum that they find favorable. Further, if the provision applies to Securities Act claims, please also state that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder.&nbsp;&nbsp;In that regard, we note that Section 22 of the Securities Act creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder</I>.</FONT></TD></TR>
</TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #002060">Hexcel Corporation</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #002060">Two Stamford Plaza, 281 Tresser
Boulevard, Stamford CT 06901-3261, USA,</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #002060">Tel: (203) 969-0666 &bull; Fax:
(203) 358-3973 &bull; www.hexcel.com</P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Company Response:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">We acknowledge the Staff&rsquo;s comment and
propose to include within the Description of Securities filed as an exhibit to future annual reports on Form 10-K a description
of this provision substantially similar to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: 36pt">In addition, the Bylaws provide that
unless the Company consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware
shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Company, (ii) any action
asserting a claim of breach of a fiduciary duty owed by any director, officer, stockholder, employee or agent of the Company to
the Company or the Company&rsquo;s stockholders, (iii) any action asserting a claim against the Company or any director, officer,
stockholder, employee or agent of the Company arising out of or relating to any provision of the Delaware General Corporation Law
or the Certificate of Incorporation or Bylaws, or (iv) any action asserting a claim against the Company or any director, officer,
stockholder, employee or agent of the Company governed by the internal affairs doctrine of the State of Delaware; provided, however,
that, in the event that the Court of Chancery of the State of Delaware lacks subject matter jurisdiction over any such action or
proceeding, the sole and exclusive forum for such action or proceeding shall be another state or federal court located within the
State of Delaware, in each such case, subject to the court having personal jurisdiction over the indispensable parties named as
defendants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: 36pt">Under the Bylaws, to the fullest extent
permitted by law, this exclusive forum provision will apply to state and federal law claims, including claims under the Securities
Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, or the respective rules and regulations promulgated
thereunder; provided, however, that the Company&rsquo;s stockholders will not be deemed to have waived the Company&rsquo;s compliance
with the federal securities laws and the rules and regulations thereunder. The enforceability of similar choice of forum provisions
in other companies&rsquo; bylaws has been challenged in legal proceedings, and it is possible that, in connection with claims arising
under federal securities laws, a court could find the choice of forum provisions contained in the Company&rsquo;s Bylaws to be
inapplicable or unenforceable. Although we believe this provision benefits the Company by providing increased consistency in the
application of Delaware law in the types of lawsuits to which it applies, this provision may have the effect of discouraging lawsuits
against the Company&rsquo;s directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">We also propose to add a risk factor substantially
similar to that set forth below in future annual reports on Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><B><I>Our amended and restated bylaws provide that the
Court of Chancery of the State of Delaware will be the exclusive forum for certain legal actions between us and our stockholders,
which could discourage lawsuits against the Company and our directors and officers</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">Our amended and restated bylaws provide to the fullest
extent permitted by law that unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the
State of Delaware will be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any action
asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, employees or agents to us or our stockholders,
any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law or our restated certificate
of incorporation, as amended, or amended and restated bylaws, or any action asserting a claim governed by the internal affairs
doctrine of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">To the fullest extent permitted by law, this exclusive
forum provision applies to state and federal law claims, including claims under the Securities Act of 1933, as amended, and the
Securities Exchange Act of 1934, as amended, although the Company will not be deemed to have waived its compliance with the federal
securities laws and the rules and regulations thereunder. The enforceability of similar</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">choice of forum provisions in other companies&rsquo;
organizational documents has been challenged in legal proceedings, and it is possible that, in connection with claims arising under
federal securities laws or otherwise, a court could find the exclusive forum provision contained in the amended and restated bylaws
to be inapplicable or unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">This exclusive forum provision may limit the ability
of our shareholders to bring a claim in a judicial forum that such shareholders find favorable for disputes with the Company or
our directors or officers, which may discourage such lawsuits against the Company and our directors and officers. Alternatively,
if a court were to find this exclusive forum provision inapplicable to, or unenforceable in respect of, one or more of the specified
types of actions or proceedings described above, we may incur additional costs associated with resolving such matters in other
jurisdictions, which could negatively affect our business, results of operations and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">**********</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company acknowledges that the responsibility for the adequacy
and accuracy of all disclosures within our filings rests with the Company, that Staff comments and/or changes to disclosures in
response to Staff comments do not foreclose the Commission from taking any action with respect to the Company&rsquo;s filings,
and that the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under
the federal securities laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: Black 1px solid"><font style="font: 10pt Times New Roman, Times, Serif">/s/ Gail E. Lehman</font></td>
    <TD STYLE="width: 60%">&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Gail E. Lehman</font></td>
    <TD>&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Executive Vice President, General Counsel and Secretary</FONT></td></tr>
</table>






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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
