Fairlight Delivers Letter to the Board of Hexcel Corporation Highlighting Concerns with Proposed Merger

SYDNEY, Jan. 28, 2020 /PRNewswire/ -- Fairlight Asset Management Pty Ltd (together with its affiliates, "Fairlight"), a stockholder of Hexcel Corporation ("Hexcel")(NYSE: HXL), today announced that it has delivered a letter to Hexcel's Board of Directors (the "Board") expressing Fairlight's concerns regarding the proposed merger with Woodward, Inc., including that it has limited strategic merit and significantly undervalues Hexcel, a demonstrably higher quality business.

The full text of Fairlight's letter to the Board can be viewed at the following link:

https://fairlightam.com.au/hexcel

Fairlight has retained Olshan Frome Wolosky LLP as its legal and strategic advisor in connection with its investment and involvement at Hexcel.

About Fairlight Asset Management Pty Ltd
Fairlight Asset Management Pty Ltd is an employee-owned, Sydney-based boutique firm investing exclusively in global equity markets.  Fairlight Asset Management Pty Ltd takes an ethically-aware, quality-driven approach to investing, dedicated to deep fundamental research of both the quantitative and qualitative aspects of investee companies.

Investor contacts:
Will Dowd: [email protected]
https://fairlightam.com.au/

SOURCE Fairlight Asset Management Pty Ltd