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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): June 28, 1999
OXFORD AUTOMOTIVE, INC.
(Exact name of Registrant as specified in its charter)
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<S> <C> <C>
Michigan 333-75849 38-3262809
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
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1250 Stephenson Highway
Troy, Michigan 48083
(Address of principal executive offices)
Registrant's telephone number, including area code: (248) 577-1400
N/A
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. OTHER EVENTS.
On June 28, 1999, (the "Closing Date") pursuant to a Participation
Purchase Agreement, dated as of June 28, 1999 (the "Purchase Agreement"),
between Oxford Automotive Europe ApS (the "Company"), a wholly owned, indirect
subsidiary of Oxford Automotive, Inc. (the "Registrant"), and Fawack Holding
GmbH and Fagro Press-und Stanzwerk GmbH (the "Sellers") and certain other
parties, the Company acquired (the "Acquisition") 100% of the shares of Gebr.
Wackenhut GmbH Karosserie-und Fahrzeugfabrik ("Wackenhut"). Wackenhut is an
unrestricted subsidiary under the Registrant's debt agreements.
Pursuant to the terms of the Purchase Agreement, the Company agreed to
pay DM 1 for the shares, provide DM 5 million in subordinated debt and
additional paid in capital, restructure approximately DM 63.4 million in bank
debt, and purchase approximately DM 18.6 million in bank and shareholder debt
for DM 1. The agreement provides for the restructuring of Wackenhut's credit
facilities and provides additional financing of approximately DM 16.6 million
under a line of credit and up to DM 20 million to fund capital expenditures to
support plant expansion and modernization. The consideration provided for in the
Purchase Agreement for Wackenhut was determined by the Registrant after a
complete review of Wackenhut's operations and negotiations between
representatives of the Registrant and representatives of the Sellers and the
banks. The acquisition, subordinated debt and additional paid in capital was
financed from the Registrant's available cash and credit facility with Bank One,
as agent.
Wackenhut is a supplier of complex pressings, welded assemblies,
complete truck cabs, cataphoretic coatings and finish paint applications and
operates three facilities in Germany located in the Nagold area near Stuttgart.
The Registrant intends to continue and expand the current operations of
Wackenhut.
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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 its behalf by the
undersigned thereunto duly authorized.
OXFORD AUTOMOTIVE, INC.
/S/ Aurelian Bukatko
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Aurelian Bukatko
Senior Vice President and
Chief Financial Officer
Dated: June 28, 1999
