Hexcel Corp., Stamford, CT, reported sales in the fourth quarter 2008 were down 8.8% to $289.5 million. Profit was $28.3 million, up from $13 million in the same period a year ago.

Hexcel reported that inventory corrections (including the downtime at Boeing Commercial Airplanes), as well as a decline in recreation, automotive and general industrial sub-markets offset growth in space, defense and wind energy markets.

For the 2008 fiscal year, sales grew 13.1%.

More details on Hexcel’s sales here.

Hexcel is an advanced structural materials 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.