UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 18, 1999
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BACOU USA, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-28040 05-0470688
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(Commission file number) (IRS Employer Identification Number)
10 Thurber Boulevard, Smithfield, RI 02917
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 401-233-0333
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<PAGE>
Item 5. Other Events.
Pursuant to Form 8-K, General Instruction F, the Company hereby
incorporates by reference the press release attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits
Exhibit Exhibit Title
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Exhibit 99 Press Release dated October 18, 1999
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended, the Company has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
BACOU USA, INC.
Registrant
By: /s/ Philip B. Barr
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Philip B. Barr
Executive Vice President and Chief
Financial Officer
Dated: October 18, 1999
Exhibit 99
Contact:
At the Company: At the Financial Relations Board:
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401-233-0333 212-661-8030
Philip B. Barr Analyst Information: John McNamara
Chief Financial Officer Media Information: Alan Goldsand
Investor Relations General Information: Jeff Bogart
FOR IMMEDIATE RELEASE
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October 18, 1999
At the Company: At the Financial Relations Board:
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401-233-0333 212-661-8030
Philip B. Barr Analyst Information: Julie Tu
Chief Operating Officer Media Information: David Closs
Investor Relations General Information: Jeff Bogart
FOR IMMEDIATE RELEASE
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October 18, 1999
BACOU USA ANNOUNCES EXECUTIVE APPOINTMENTS
SMITHFIELD, RI, October 18, 1999 - - Bacou USA, Inc. (NYSE:BAU), a leading
manufacturer of personal protection equipment, announced today that the company
would broaden its executive suite with the appointment of Philip B. Barr to
President and Chief Executive Officer, and Alan H. Bennett to Chief Operating
Officer, effective at the start of next year.
Walter Stepan, who is currently Co-Chairman, President and Chief Executive
Officer, will continue to hold the office of Co-Chairman of Bacou USA and will
continue as Chairman of Bacou USA Safety, Inc. and other Bacou USA subsidiaries.
He will be focusing his energies in the future on acquisitions, the development
of the global Bacou USA business, and other strategic aspects of Bacou's future
growth together with Philippe Bacou, the Chairman, President and Chief Executive
Officer of the France-based Bacou S.A. group, which is the seventy-two percent
majority shareholder of Bacou USA.
Barr will be promoted from his current position of Executive Vice President
and Chief Operating Officer. Bennett is currently the Group President for the
Howard Leight and Uvex divisions; and in his new role as Chief Operating Officer
of Bacou USA, he will focus on the day-to-day operating business of all Bacou
USA subsidiaries and divisions. In this regard, Bennett will also succeed Stepan
as President and Chief Executive Officer of Bacou USA Safety, Inc., the main
operating subsidiary of Bacou USA.
Bacou USA also announced today the establishment of the Office of the
Chairman. This will consist of Philippe Bacou, Walter Stepan, Philip B. Barr and
Alan H. Bennett.
"As we have grown, it has become necessary to expand our management team,"
Stepan said in making today's announcement. "When Bacou USA was founded in 1993,
our Uvex business was on the way to a record-breaking sales result of
approximately $38 million. Today, we expect our sales in 1999 to exceed $250
million - - a compound annual growth rate of over 37 percent for the six-year
period - - and to report solid profitability. With a series of acquisitions in
recent years, the geographic scope of our business has also increased
significantly. For example, since 1994, we have grown from one manufacturing
site to eight, and from approximately 300 to 2,500 employees worldwide. In order
to manage this growth effectively, we need additional management resources at
the Bacou USA level."
"I have hired and groomed Phil Barr for the CEO job, and he is now ready to
take on the responsibility. Alan Bennett is a long-time friend and a seasoned
and successful executive who used to be our biggest Uvex customer years ago when
he owned Allied Industrial Distributors. Their respective skills are
well-matched and will result in a strong executive team."
Barr, 47, joined Bacou USA in 1995 from the law firm of Edwards & Angell,
the company's primary outside counsel, where he had been a partner since 1985.
He has held various positions at both the parent company and its operating units
including, at Bacou USA, the positions of Vice President, Executive Vice
President, Chief Financial Officer, Secretary, Treasurer, General Counsel and,
since May, Chief Operating Officer. Barr is a graduate of Brown University,
received his law degree from Vanderbilt University as well as a Master of Laws
in taxation from the University of Florida and is a member of the Rhode Island
and Florida bars. He resides in Lincoln, R.I.
Bennett, 56, joined Bacou USA in January 1999 as President of Uvex Safety,
with responsibility for the entire Uvex Safety business. The founder of Allied
Industrial Distributors in 1969, Bennett developed it through internal growth
and acquisitions, selling the business to Figgie International in 1988 to form
its Safety Supply America unit. He then helped develop Safety Supply America as
its President through 1994, when it was divested by Figgie. During 1992-1998,
Bennett served as a member of the board of directors of the National Safety
Council, and he is a past president of the Safety Equipment Distributors
Association and the National Industrial Glove Distributors Association. He is a
former director of Verdugo Banking Company, a Glendale, Calif., financial
institution. He received his bachelor's degree in business administration, and
he resides in East Greenwich, R.I., after relocating from Oregon in January.
Bacou USA, Inc. designs, manufactures and sells leading brands of products
that protect the sight, hearing, respiratory systems and hands of workers, as
well as related instrumentation including vision screeners, gas monitors and
test equipment for self-contained breathing apparatus. The company's products,
marketed under Uvex(R), Howard Leight(R), Perfect Fit(TM), Survivair(R),
Pro-Tech(R), Biosystems(TM), Titmus(R), LaserVision(TM) and Lase-R Shield(TM)
brand names, are sold principally to industrial safety distributors, fire
fighting equipment distributors and optical laboratories. News and information
about Bacou USA is available on the Worldwide Web at http:/www.bacouusa.com.
To receive additional information on Bacou USA, Inc., via fax, at no
charge, dial 1-800-PRO-INFO and enter code BAU.
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Statements contained in this press release that are not historical facts are
forward-looking statements that are made pursuant to the safe harbor provisions
of the Private Securities and Litigation Reform Act of 1995. In addition, words
such as "believes," "anticipates," "expects" and similar expressions are
intended to identify forward-looking statements. Forward-looking statements
involve risks and uncertainties, including but not limited to the timely
development and acceptance of new products, the impact of competitive products
and pricing, changing market conditions, the successful integration of
acquisitions and the other risks detailed in the company's prospectus filed
March 27, 1996, and from time to time in other filings. Actual results may
differ materially from those projected. These forward-looking statements
represent the company's judgment as of the date of this release. The company
disclaims, however, any intent or obligation to update these forward-looking
statements.
