UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ______2_____________)*
HEXCEL CORPORATION
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
428291108
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(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[] Rule 13d-1(c)
[] Rule 13d-1(d)
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*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 428291108
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1. NAME OF REPORTING PERSON(S)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(S)
INGALLS & SNYDER LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK STATE
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NUMBER OF 5. SOLE VOTING POWER
SHARES 383,663 ASSUMING CONVERSION OF 55,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER
EACH 316,256
REPORTING -------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER
WITH 333,663 ASSUMING CONVERSION OF 55,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
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8. SHARED DISPOSITIVE POWER
3,453,168 ASSUMING CONVERSION OF 7,480,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,836,831 ASSUMING CONVERSION OF 7,535,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.9% ASSUMING CONVERSION OF 7,535,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
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12. TYPE OF REPORTING PERSON*
BD
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Item 1. (a) Name of Issuer:
HEXCEL CORPORATION
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(b) Address of Issuer's Principal Executive Offices:
281 TRESSER BLVD STAMFORD CT 06901
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Item 2. (a) Name of Person Filing:
INGALLS & SNYDER LLC
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(b) Address of Principal Business Office, or if None, Residence:
61 BROADWAY, NEW YORK, NY 10006
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(c) Citizenship:
NY STATE
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(d) Title of Class of Securities:
COMMON STOCK
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(e) CUSIP Number:
428291108
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Item 3. If this statement is filed pursuant to Rules 240.13d-(1), or
13d-2(b) or (c), check whether the person filing is a:
(a) [X] Broker or Dealer registered under Section 15 of the
Act, (15 U.S.C 78o)
(b) [ ] Bank as defined in Section 3(a)(6) of the
Act, (15 U.S.C 78c)
(c) [ ] Insurance Company as defined in Section 3(a)(19)
of the Act, (15 U.S.C 78c)
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C 80a-8)
(e) [] Investment Adviser in accordance with
Section 240.13d-1(b)(1)(ii)(E)
(f) [ ] Employee Benefit Plan or endowment fund in accordance
to Section 240.13d-1(b)(ii)(F)
(g) [ ] A parent holding company or control person in
accordance with Section 240.13d-1(b)(1)(ii)(G)
(h) [ ] A savings associations as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C 1813)
(i) [ ] A church plan that is excluded from the definition
of an investment company under section 3(c)(14)
of the Investment Company Act of 1940 (15 U.S.C 80a-3)
(j) [ ] Group, in accordance with
Section 240.13d-1(b)(1)(ii)(J)
Item 4. Ownership.
(a) Amount beneficially owned:
3,836,831 ASSUMING CONVERSION OF 7,535,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
(b) Percent of class: 9.9% ASSUMING CONVERSION
OF 7,535,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
383,663 ASSUMING CONVERSION OF
55,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03,
(ii) Shared power to vote or to direct the vote
316,256
(iii) Sole power to dispose or to direct the disposition of
333,663 ASSUMING CONVERSION OF
55,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03
(iv) Shared power to dispose or to direct the disposition of
3,453,168 ASSUMING CONVERSION OF
7,480,000 PRINCIPAL AMOUNT
OF 7% CON. DEB. DUE 8/1/03,
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Securities reported under Sole Voting Power and Sole Dispositve Power
include securities owned by Managing Directors of Ingalls & Snyder LLC.
Securities reported under Shared Dispositive Authority
are owned by clients of Ingalls & Snyder LLC in accounts over which
employees hold discretionary investment authority.
Item 7. Identification and Classification of the Subsidiary
which Acquired the Security Being Reported on
By the Parent Holding Company.
INAPPLICABLE
Item 8. Identification and Classification of Members of the Group.
INAPPLICABLE
Item 9. Notice of Dissolution of Group.
INAPPLICABLE
Item 10. Certification.
(a) The following certification shall be included if the statement is
filed pursuant to 240.13d-1(b)
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired
in the ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having such
purpose or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Date: 2/13/03
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(Signature)*
Edward H. Oberst
Managing Director
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(Name/Title)
* Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).