<PAGE>
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: February 22, 2000
CAMBRIDGE INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-34061 38-3188000
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
555 Horace Brown Drive, Madison Heights, MI 48071
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (248) 616-0500
<PAGE>
ITEM 5. OTHER EVENTS
See the press release, issued February 14, 2000, announcing the
decision to solicit buyers for Cambridge Industries, either in
whole or in part.
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.
CAMBRIDGE INDUSTRIES, INC.
/s/ Donald C. Campion
------------------------------------------------
Name: Donald C. Campion
Title: Chief Financial Officer & Executive Vice
President
Dated: February 21, 2000
2
<PAGE>
EXHIBIT 99.1
Contact: John Sieg
Cambridge Industries, Inc.
248-616-6706
[email protected]
Erin Millerschin
Auto PR
248-377-4354
FOR IMMEDIATE RELEASE
Cambridge Industries, Inc. to Pursue Sale
MADISON HEIGHTS, MICH., FEBRUARY 14 -- The Cambridge Industries' Board of
Directors has approved the decision to solicit buyers for the company, either in
whole or in part, and has engaged the investment banking firm of Morgan Stanley
Dean Witter & Co. to manage the sale process.
"Cambridge has undertaken these actions for various strategic reasons," said
Richard Crawford, founder and chairman of Cambridge Industries. "Our OEM
customers have recognized the strength of the company's technology and
manufacturing abilities by selecting Cambridge to supply products for critical
new program launches in the years ahead. To satisfy this dramatic increase in
our business, the company needs significant funding to pay for new equipment and
facilities. After reviewing various financing alternatives, we have decided that
the best way to meet the company's funding requirements, while protecting the
needs of our customers, is to find buyers for some of our ongoing operations or,
if the right opportunity presents itself, the entire business.
"Over the past week, articles in the press have speculated on the company's
financial condition and reports that Cambridge is for sale," said Crawford. "It
is not the company's policy to comment on rumors and speculation. However, the
company has recently experienced short term liquidity problems and is working
with its customers, suppliers and lenders to obtain the funding necessary to
permit the sales process to be completed and the company to operate and launch
programs in the ordinary course of its business. We are making progress in
these negotiations and expect that they will be concluded shortly."
The company anticipates providing further information on the sales process in
the second quarter of the year.
Headquartered in Madison Heights, Mich., Cambridge Industries is a Tier 1
plastic composites supplier to the automotive, light and commercial truck, and
industrial products markets. Cambridge Industries has 18 facilities in the
U.S., Canada, and South America.
1
