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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT: NOVEMBER 30, 1998
DATE OF EARLIEST EVENT REPORTED: NOVEMBER 30, 1998
COMMSCOPE, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-12929 36-4135495
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification
incorporation or Number)
organization)
1375 LENOIR RHYNE BOULEVARD,
HICKORY, NORTH CAROLINA 28601
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (828) 324-2200
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Item 5. Other Events.
On November 30, 1998, the registrant issued the press release filed as
Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits.
Exhibit Description
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99.1 Press Release issued November 30, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on behalf of the
undersigned hereunto duly authorized.
Dated: November 30, 1998.
COMMSCOPE, INC.
By: /s/ Jearld L. Leonhardt
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Jearld L. Leonhardt
Executive Vice President
Finance and Administration
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EXHIBIT INDEX
Exhibit Description
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99.1 Press Release issued November 30, 1998
Exhibit 99.1
FOR IMMEDIATE RELEASE CONTACT: PHIL ARMSTRONG
- --------------------- DIRECTOR, INVESTOR
RELATIONS
(828) 323-4848
COMMSCOPE PURCHASES CLAD WIRE FABRICATION EQUIPMENT
FROM TEXAS INSTRUMENTS;
VERTICAL INTEGRATION CREATES LONG-TERM COST REDUCTION OPPORTUNITY
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HICKORY, NC -- (NOVEMBER 30, 1998) -- CommScope (NYSE: CTV), a leader in
broadband and high-performance communications cables, announced today that
it has signed a definitive agreement to purchase the clad wire
fabrication equipment and technology of Texas Instruments Materials &
Controls business. This purchase allows CommScope to further vertically
integrate its processes, resulting in greater efficiencies that will
benefit its customers and shareholders. Financial terms and conditions of
the transaction were not disclosed.
The specialized equipment is primarily used to make copper-aluminum and
copper-steel center conductors, which are a fundamental component of
coaxial cables. These conductors are fabricated by metallurgically bonding
metals using heat and pressure.
"The purchase of Texas Instruments' technology and equipment is a natural
strategic move and another big step in our ongoing cost reduction program,"
said Randall W. Crenshaw, Executive Vice President - Procurement and
Logistics. "We're excited about this opportunity since clad wire center
conductors represent a large portion of our raw material costs. At full
capacity, we expect this equipment will be able to produce a significant
portion of the center conductors used by CommScope. We also intend to
integrate this equipment with ongoing R&D activities to develop new, lower
cost processes for the fabrication of clad conductors."
The transaction, which will be funded out of operational cash flow, is
subject to customary closing conditions and is expected to be completed in
the near future.
Texas Instruments Incorporated is a global semiconductor company and the
world's leading designer and supplier of digital signal processing
solutions, the engines driving the digitization of electronics.
Headquartered in Dallas, Texas Instruments' businesses also include
materials and controls, educational and productivity solutions, and digital
imaging.
CommScope is the world's largest manufacturer of coaxial cable and is a
leading supplier of high-performance telecommunications cable for LAN and
other applications.
Statements in this press release which are other than historical facts are
intended to be "forward-looking statements" within the meaning of the
Securities Exchange Act of 1934, the Private Securities Litigation Reform
Act of 1995 and other related laws, and include, but are not limited to,
those statements relating to CommScope's relative market position and
effects of fabricating bi-metals. While CommScope believes such statements
are reasonable, the actual results and effects could differ materially from
those currently anticipated. Factors and risks that could cause such
differences include, but are not limited to the failure to complete the
transaction with Texas Instruments, operating the bi-metals operation
successfully, developments in technology, pricing and acceptance of
CommScope's products, changes in raw material costs, industry competition,
international economic conditions, cable television industry capital
spending, the proposed AT&T/TCI merger and other factors. The cautionary
statements contained in CommScope's Form 10-Q for the quarter ended
September 30, 1998 are incorporated herein by reference.
Visit CommScope at our Web Site -- www.commscope.com
