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
Date of Report (Date of earliest event reported) July 7, 2000
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GENERAL BEARING CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-22053 13-2796245
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(State or Other (Commission) (I.R.S. Employer
Jurisdiction of File Number) Identification
Incorporation) No.)
44 High Street, West Nyack, New York 10994
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (914) 358-6000
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(Former name or former address, if changed since last report.)
NYC55/13111.1
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 2. Acquisition or Disposition of Assets.
On July 7, 2000 the Registrant acquired World Machinery Company
("World") by agreement and plan of merger. World, a closely held company, was
formerly principally owned by members of the Registrant's board of directors and
senior management and was formerly General Bearing's majority shareholder owning
74.8% of the Registrant's outstanding common stock. Under the terms of the
agreement and plan of merger, each share of World common stock issued and
outstanding was converted into 1,025.4735 shares of duly authorized, validly
issued and non-assessable shares of the Registrant's common stock. World is now
a wholly-owned subsidiary of the Registrant.
Item 7. Financial Statements and Exhibits
Financial statements are not currently available and will be filed via
amendment as soon as practicable, but not later than 60 days from July 7, 2000.
EXHIBIT NO. DESCRIPTION OF EXHIBIT
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No. 2.1 Agreement and Plan of Merger
No. 4.1 Registration Rights Agreement
SIGNATURES
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.
GENERAL BEARING CORPORATION
Date: July 24, 2000 By: /s/ David L. Gussack
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David L. Gussack
President
NYC55/13111.1
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