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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): MAY 21, 1998
CLARK-SCHWEBEL HOLDINGS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 333-36491 13-3883016
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
2200 SOUTH MURRAY AVENUE, (P.O. BOX 2627), ANDERSON, SOUTH CAROLINA 29622
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(Address of registrant's principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (864) 224-3506
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Item 5. Other Events.
Clark-Schwebel Holdings, Inc. (the "Company") announced on May 21,
1998, that it has retained Merrill Lynch & Co. to assist in reviewing
its strategic alternatives, including possible business combinations,
recapitalization transactions or other methods of enhancing shareholder
value.
A Press Release announcing the actions described above was issued by
the company on May 21, 1998 and is attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
99.1 Press Release dated May 21, 1998, issued by the
Company.
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SIGNATURE
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.
CLARK-SCHWEBEL HOLDINGS, INC.
By: /s/ Donald R. Burnette
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Name: Donald R. Burnette
Title: Vice President and Chief
Financial Officer
Dated: May 26, 1998
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
For additional information, contact
Fred Garcia, Clark & Weinstock (212) 953-2550
Hugh Sullivan, Merrill Lynch (212) 449-5084
CLARK-SCHWEBEL RETAINS MERRILL LYNCH AS STRATEGIC ADVISOR
Anderson, SC (May 21, 1998) -- Clark-Schwebel Holdings, Inc. announced today
that it has retained Merrill Lynch & Co. to assist in reviewing its strategic
alternatives, including possible business combinations, recapitalization
transactions or other methods of enhancing stockholder value. No assurance can
be given regarding the likelihood or timing of any transaction.
Clark-Schwebel is a leading manufacturer of industrial fiber glass and
high performance fabrics for the electronics, composites and ballistics
protection markets. It is the leading U.S. producer of fiber glass fabrics for
use in the electronics industry and maintains interests in the leading European
and Japanese producers of such fabrics through its significant ownership
positions in CS-Interglas AG and Asahi-Schwebel Co., Ltd., which are joint
venture affiliates of the company. Clark-Schwebel also maintains a 50%
partnership interest in Clark-Schwebel Tech-Fab Company, a leading U.S. producer
of nonwoven fiber materials for roofing, construction and other specialty
applications. Clark-Schwebel and its joint venture affiliates collectively
operate 11 facilities in seven countries.
