Exhibit 99.1

News Release

Hexcel Corporation, 281 Tresser Boulevard, Stamford, CT 06901 (203) 969-0666

HEXCEL REPORTS 2010 THIRD QUARTER RESULTS

Third Quarter 2010 Highlights

·                  Sales of $294.5 million were 14.5% higher than last year (18.2% in constant currency) led by strong Commercial Aerospace sales (up 26.4% in constant currency).

·                  Net income of $15.6 million, $0.16 per diluted share ($0.20 adjusted for one-time items), versus $10.4 million, $0.11 per diluted share last year ($0.10 adjusted for one-time items).

STAMFORD, CT. October 25, 2010 — Hexcel Corporation (NYSE: HXL), today reported results for the third quarter of 2010.  Net sales during the quarter were $294.5 million, 14.5% higher than the $257.1 million reported for the third quarter of 2009.  Operating income for the third quarter was $34.5 million, compared to $19.6 million for the same quarter last year.  The 2009 results include a $1.7 million net gain related to the prior year sale of a business, primarily due to the receipt of an earn-out payment from the buyer.  Net income for the third quarter of 2010 was $15.6 million, or $0.16 per diluted share, compared to $10.4 million or $0.11 per diluted share in 2009.  The 2010 results include a pre-tax charge of $6.8 million (after tax of $0.04 per diluted share) for the accelerated amortization of deferred financing costs as a result of our previously announced refinancing.  Excluding the after tax impacts of the acceleration of deferred finance costs in 2010 and the 2009 adjustment of a prior year gain, adjusted diluted net income for the third quarter of 2010 was $0.20 per share compared to $0.10 per share in 2009 (see Table D).

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Chief Executive Officer Comments

Mr. Berges commented, “We are pleased with the sales trends from the last two quarters, which are in line with our June 2nd outlook of a return to growth.  Commercial Aerospace and Industrial market segment sales were both up over 20% in constant currency over the prior year third quarter, and Space & Defense sales continue strong, up about 2% in constant currency.  Good leverage on the incremental sales resulted in gross margins 360 basis points higher than the third quarter of last year, though down slightly from the first half due to typical seasonal effects.  Adjusted operating income of $34.5 million was almost double that of last year’s third quarter.”

Looking ahead, Mr. Berges said, “While we may see some moderation of our growth rate in the fourth quarter due to year-end inventory corrections or program delays, recent order announcements by our major aerospace and wind customers allow us to reaffirm our outlook for double digit growth trends in the mid-term.  Our 2010 performance has established a new, higher operating income baseline from which we still target incremental operating margins of over 20% on the year-over-year sales growth.”

Markets

Commercial Aerospace

·                  Commercial Aerospace sales of $157.6 million increased 23.6% (26.4% in constant currency) for the quarter as compared to the third quarter 2009.  Revenues attributed to new aircraft programs (A380, A350, B787, B747-8) doubled versus the same period last year and represented more than 20% of Commercial Aerospace sales for the second quarter in a row.  Legacy Airbus and Boeing sales also were up 10% compared to last year and slightly up on a sequential basis despite summer holiday schedules.

·                  Sales to “Other Commercial Aerospace,” which include regional and business aircraft customers, were more than 10% above their low point of the third quarter of last year and a little lower than the second quarter of 2010.

Space & Defense

·                  Space & Defense sales of $74.4 million were flat (increased 1.8% in constant currency) compared to the third quarter of 2009.  We continue to benefit from participating in a wide range of programs which help offset the impact of the wind-down of the F22 program that started in the fourth quarter of 2009.

Industrial

·                  Total Industrial sales of $62.5 million for the third quarter of 2010 were up 13.4% (21.8% higher in constant currency) with good year-over-year growth from all sub-markets.  Wind sales were up over 20% on a constant currency basis over last year’s low third quarter, but about the same as the second quarter of 2010.  While we are still optimistic about the longer term prospects for prepreg sales for wind turbines, we remain cautious about the timing and pace of a return to growth.

Operations

·                  Gross margin was 23.9% of net sales for the quarter as compared to 20.3% in the same period last year.  The improved gross margin percentage over last year reflects higher sales volume, factory productivity, cost reduction initiatives, and favorable product mix.   These more than offset the step-up in depreciation expense included in cost of sales of $1.3 million versus last year.  Exchange rates resulted in about a 50 basis points improvement in gross margin compared to last year.

·                  Third quarter adjusted operating income of $34.5 million, or 11.7% of sales, was a significant improvement over the 2009 amounts of $17.9 million, or 7.0% of sales, despite higher selling, general and administrative expenses reflecting increased variable compensation costs.  Research and technology expenses of $7.3 million for the quarter were $1.1 million lower than last year, but slightly higher than 2009 on a year to date basis.

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Tax

·                        The tax provision was $6.8 million for the third quarter of 2010, for an effective tax rate of 30.4%.  Excluding the $3.5 million benefit in the first quarter for New Clean Energy Manufacturing Tax Credits, the year to date effective tax rate is 30.7%, which is in the range of our expected annual rate.

Cash and other

·                  Free cash flow for the first nine months was $38 million as compared to $58 million for the first nine months of 2009.  The significant sales growth resulted in an almost $73 million net increase in working capital year to date as compared to 2009, offset by about $51 million of lower capital expenditures. We do expect the pace of capital expenditures to increase in the fourth quarter of 2010 and the accrued capital expenditures to be in the range of $60 - $65 million for 2010.  Total debt, net of cash as of September 30, 2010 was $253.1 million, a year to date decrease of $29.1 million and reflecting the lowest level since 1996.

·                  As previously announced, we refinanced our senior secured credit facilities on July 9, 2010.  The new $250 million facility consists of a $150 million revolving loan and a $100 million term loan that will mature in five years, replacing the Company’s previous senior secured credit facility.  The new initial interest rate is 125 basis points lower than the prior facility, and more importantly removes the 2.5% LIBOR floor of the prior facility. We expect that interest costs will decrease in the first twelve months by more than $5 million at current borrowing levels and forecasted LIBOR rates, with the payback of the refinancing costs estimated to be about nine months.  As a result of the refinancing, we recorded a pretax charge of $6.8 million (estimated after tax of $0.04 per diluted share) in the third quarter of 2010 for the accelerated amortization of deferred financing costs of the replaced facility.

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Hexcel will host a conference call at 10:00 A.M. ET, tomorrow, October 26, 2010 to discuss the third quarter results and respond to analyst questions.  The telephone number for the conference call is (719) 325-2382 and the confirmation code is 6741573.  The call will be simultaneously hosted on Hexcel’s web site at www.hexcel.com/investors/index.html. Replays of the call will be available on the web site for approximately three days.

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Hexcel Corporation is a leading advanced composites company.  It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.

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Disclaimer on Forward Looking Statements

This press release contains statements that are forward looking, including statements relating to anticipated trends in constant currency for the market segments we serve (including changes in commercial aerospace revenues, the estimates and expectations based on aircraft production rates made publicly available by Airbus and Boeing, the revenues we may generate from an aircraft model or program, the impact of delays in new aircraft programs, the outlook for space & defense revenues and the trend in wind energy, recreation and other industrial applications); our ability to maintain and improve margins in light of the changes in product mix, efficiency improvements, continued cost reduction efforts and the current economic environment; and the impact of the above factors on our expectations of 2010 financial results.  Actual results may differ materially from the results anticipated in the forward looking statements due to a variety of factors, including but not limited to changing market conditions, increased raw material costs, competition, product mix, inability to achieve planned manufacturing improvements and cost

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reductions, conditions in the financial markets and changes in currency exchange rates, interest rates, governmental and environmental regulations and tax codes.  Additional risk factors are described in our filings with the SEC.  We do not undertake an obligation to update our forward-looking statements to reflect future events.

Contact Information

Michael Bacal

(203) 352-6826

michael.bacal@hexcel.com

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Hexcel Corporation and Subsidiaries

Condensed Consolidated Statements of Operations

a)              Other operating expense for the nine months ended September 30, 2010 reflects an increase in environmental reserves primarily for remediation of the site of a manufacturing facility which we sold in 1986.  Third quarter of 2009 included a net gain related to the prior year sale of a business, primarily due to the receipt of an earn-out payment from the buyer.  The nine month of 2009 also included $1.7 million of additional environmental reserves related to the aforementioned sold manufacturing facility and another previously sold facility.

b)             $6.8 million is the accelerated amortization of deferred financing costs as a result of refinancing our Senior Secured Credit Facility.

c)              Provision for income taxes for the nine months ended September 30, 2010 includes a $3.5 million benefit from New Clean Energy Manufacturing Tax Credits awarded in January 2010 for qualifying capital investments made in our U.S. wind energy facility in 2009.

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Hexcel Corporation and Subsidiaries

Condensed Consolidated Balance Sheets

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Hexcel Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows

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Hexcel Corporation and Subsidiaries

Net Sales to Third-Party Customers by Market Segment

(a)         To assist in the interpretation of our net sales trend, total net sales and sales by market for the quarter and nine months ended September 30, 2009 have been estimated using the same U.S. dollar, British pound and Euro exchange rates as applied for the respective period in 2010 and are referred to as “constant currency” sales.

(b)         FX effect is the estimated impact on “as reported” net sales due to changes in foreign currency exchange rates.

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