<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of June 1999.
DENISON INTERNATIONAL plc
-------------------------
(Translation of registrant's name into English)
Masters House
107 Hammersmith Road
London W14 0QH
England
(Address of principal executive offices)
<PAGE>
Denison International plc (NASDAQ: DENHY) announced that a labor dispute has
resulted in a work stoppage at its Marysville, Ohio, facility. The company
states that the labor dispute arose upon the expiration of its union contract in
mid-June. The dispute is centered primarily on labor rate and benefits issues. A
company spokesman said that the softness in the North American and Asian markets
caused by the continuing low level of prices for basic commodities such as oil,
gas, copper, gold and steel has reduced demand for the piston pump product range
which is manufactured in Marysville and management is requesting all employees
to share in a company wide effort to contain cost increases and improve its
competitive position in the market place.
The effect of the labor dispute at Marysville will have an adverse impact on the
overall results of the company. David L. Weir, President and CEO stated that
"for the second quarter the strike will further weaken the North American
business but it is not expected to have a substantial effect on Europe which is
currently the largest profit contributor. Given current market conditions,
management is targeting further cost reductions in its operations".
Overall, Denison International plc still expects a small improvement in the
second quarter earnings over the first quarter result, but the improvement will
be less than previously anticipated. However, if the Marysville work stoppage is
prolonged and the US dollar continues to strengthen against European currencies,
third quarter earnings will also be impacted adversely.
Denison International plc designs, manufactures, distributes and services highly
engineered fluid power systems and components. Denison distributes its products
and services globally to a diverse group of original equipment manufacturers and
end users in a broad array of industrial applications, including machine tools
and material handling equipment, mobile construction, agricultural and utility
equipment, and marine applications, including military equipment.
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Act of 1995. Such forward-looking statements are
subject to certain risks and uncertainties which could cause actual results to
differ materially from those currently anticipated. Shareholder, potential
investors and other readers are urged to consider these factors carefully in
evaluating the forward-looking statements. The forward-looking statements made
herein are only made as of the date of this press release and the company
undertakes no obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances.
/CONTACT: Bruce A. Smith, Chief Financial Officer, Denison International at
937-644-4437; or Carolyn Snider at National Editorial Services at 248-548-7444
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, thereunto duly authorized.
DENISON INTERNATIONAL plc
By: /s/ Bruce A. Smith
------------------
Bruce A. Smith
Chief Financial Officer
Date: June 28, 1999
3
