UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

                       January 19, 2005 (January 14, 2005)
                     --------------------------------------
                Date of report (Date of earliest event reported)

                               Hexcel Corporation
                   -------------------------------------------
               (Exact Name of Registrant as Specified in Charter)


        Delaware                       1-8472                    94-1109521
--------------------------      -----------------------     --------------------
 (State of Incorporation)        (Commission File No.)          (IRS Employer 
                                                             Identification No.)

                               Two Stamford Plaza
                              281 Tresser Boulevard
                        Stamford, Connecticut 06901-3238
             ------------------------------------------------------
              (Address of Principal Executive Offices and Zip Code)


                                 (203) 969-0666
               --------------------------------------------------
              (Registrant's telephone number, including area code)

                                       N/A
           -----------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written Communication pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
    CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))




Section 2 - Financial Information

Item 2.02 Results of Operation and Financial Condition

          On January 14, 2005, Hexcel Corporation, a Delaware corporation (the
          "Company"), issued a press release in which the Company described the
          accounting treatment for the December 2004 conversion of mandatorily
          redeemable convertible preferred stock and the associated secondary
          offering of common stock also completed in December of 2004. A copy of
          this press release is being furnished as Exhibit 99.1 and is
          incorporated herein by reference.

Section 7 - Regulation FD

Item 7.01 Regulation FD Disclosure

          The information contained in Item 2.02 of this report is incorporated
          by reference into this Item 7.01.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

     (c)  Exhibits

          99.1 Press Release issued by the Company on January 14, 2005.



                                    Signature
                                    ---------

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                                        HEXCEL CORPORATION

    January 19, 2005
                                                        /s/ William J. Fazio
                                                        ------------------------
                                                        William J. Fazio
                                                        Corporate Controller and
                                                        Chief Accounting Officer



                                  Exhibit Index
                                  -------------


Exhibit No.             Description
-----------             -----------

   99.1                 Press Release issued by the Company on January 14, 2005.