Hart-Scott-Rodino waiting period expires on Hexcel/Ciba composites transaction

Business Wire, Sept 27, 1995

PLEASANTON, Calif. & BASEL, Switzerland--(BUSINESS WIRE)--Sept. 27, 1995--Hexcel Corp. (NYSE/PSE:HXL) and Ciba-Geigy Limited announced today that the waiting period under the Hart-Scott-Rodino Act has expired with respect to the contemplated strategic alliance between the two companies.

The signing of a non-binding Letter of Intent between Ciba-Geigy Limited and Hexcel to combine Ciba's worldwide Composites Division -- including composites, honeycomb, fabrics, structures and interiors -- with Hexcel's business was previously announced on July 12, 1995. Ciba Composites, a division of the worldwide biological and chemical group, and Hexcel, a leading manufacturer of honeycomb, advanced composites and reinforced fabrics, both specialize in lightweight, high-strength structural materials for the aerospace, commercial aircraft and other industries.

The combined company, which would retain the Hexcel Corp. name, will be a major global presence in its industry having generated, on a pro forma combined basis, 1994 sales in excess of US$600 million.

CONTACT: Hexcel

Tara Owen, 212/484-7724

or

Ciba (in Switzerland)

Kai Romot, 41 61 696 44 44

Ciba (in U.S.)

Mark Ryan, 914/785-4050