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
Date of Report (Date of earliest event reported) December 31, 1997
-----------------
HIREL HOLDINGS, INC.
--------------------
(Exact name of registrant as specified in its charter)
Delaware 0-28524 65-0666239
-------- ------- ----------
(State or other jurisdiction (Commission File (IRS Employer
or incorporation) Number) Identification No.)
650 SW 16th Terrace, Pompano Beach, FL 33069 (Address
-----------------------------------------------------
of principal executive offices, including zip code)
Registrant's telephone number, including area code (954) 942-5390
--------------
91599 N.E. 10th Avenue, Suite A, North Miami Beach, Florida 33179
-----------------------------------------------------------------
(Former name or former address, if changed since last report)
97/4874.100/98497
<PAGE>
Other Events.
Item 5.
- -------
Effective December 31, 1997, as a result of an agreement between Marine
Power Holdings, Inc. ("Buyer") and Hirel Holdings, Inc. (the "Company"), Hirel
Technologies, Inc. ("Technologies") a subsidiary of the Company and Hirel
Marketing, Inc. ("Marketing") a subsidiary of the Company (the "Agreement"),
Technologies sold to Buyer all the assets (the "Assets") of the Marine Power
Division of Technologies located at the Riverside, California; Ponchatoula,
Louisiana and Spokane Washington Marine Power Division facilities used in
connection with the business of the Marine Power Division of Technologies for a
price of $150,000 and the assumption of certain liabilities.
The Buyer also purchased all the assets of Hirel Marine & Industrial
Supply ("Marine"), a Division of Marketing, located at Marine's Lakewood, New
Jersey facility, pertaining to, or developed with, respect to the business of
Marine for a purchase price of $142,129.
Item 7.
- -------
Exhibits
(a) Purchase and Sale Agreement between Marine Power Holding,
LLC, Hirel Holdings, Inc., Hirel Technologies, Inc. and Hirel Marketing, Inc.
dated December 31, 1997 to be filed by amendment.
97/4874.100/98497
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HIREL HOLDINGS, INC.
By: /s/ Gregory S. Fenech
-------------------------
Gregory S. Fenech, President
DATED: January 14, 1998
97/4874.100/98497
3
