<PAGE> 1
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 25, 1997
WAXMAN INDUSTRIES, INC.
-----------------------
(Exact name of registrant as specified in its charter)
Delaware 1-10273 34-0899894
-------- ------- ----------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
24460 Aurora Road, Bedford Heights 44146
-----------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 439-1830
------------------------------------------------------------------
NOT APPLICABLE
-------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 5. OTHER EVENTS.
-------------
On June 25, 1997, Waxman Industries, Inc. (the "Company") issued the
press release (the "June Press Release") annexed as an exhibit hereto. The
June Press Release is incorporated herein by reference.
On July 2, 1997, the Company issued the press release (the "July
Press Release") annexed as an exhibit hereto. The July Press Release is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
----------------------------------
(c) Exhibits.
---------
99.1 Press Release of Waxman Industries, Inc. dated
June 25, 1997.
99.2 Press Release of Waxman Industries, Inc. dated
July 2, 1997.
-2-
<PAGE> 3
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 hereunto duly authorized.
WAXMAN INDUSTRIES, INC.
(Registrant)
Dated: July 8, 1997 By: /s/ Mark W. Wester
-----------------------
Mark W. Wester
Vice President-Finance
-3-
<PAGE> 4
INDEX TO EXHIBITS
Exhibit No. Page No.
- ----------- --------
99.1 Press Release of Waxman Industries, Inc.
dated June 25, 1997
99.2 Press Release of Waxman Industries, Inc.
dated July 2, 1997
-4-
<PAGE> 1
EXHIBIT 99.1
WAXMAN NYSE: WAX
Waxman Industries, Inc. N E W S R E L E A S E
FOR ADDITIONAL INFORMATION, CONTACT:
At The Company: At The Financial Relations Board, Inc.:
Armond Waxman, President Kathleen M. Brunson
216-439-1830 312-266-7800 (Chicago)
Mark Wester, Vice President-Finance Regina K. Ryan
216-439-1830 212-661-8030 (New York)
FOR IMMEDIATE RELEASE
Waxman Industries, Inc. Announces Sale of Division
--------------------------------------------------
BEDFORD HEIGHTS, OHIO -- June 25, 1997 - Waxman Industries, Inc. (NYSE:
WAX), through its indirect subsidiary WOC Inc., announced today that it had
entered into an agreement in principle to sell, for $4.0 million, subject to
certain post closing adjustments and customary closing conditions, all of the
assets of LeRan Gas Products to Barnett Inc. (Nasdaq: BNTT), a former subsidiary
of Waxman. Waxman continues to own 44.5% of Barnett.
LeRan is a leading business-to-business direct marketer of
approximately 3,400 products to the liquid propane gas business, with estimated
fiscal 1997 revenues of $8 million. Armond Waxman, President and Co-Chief
Executive Officer stated: "We believe the sale of LeRan to Barnett is a win-win
situation. Waxman will continue to reduce its indebtedness and benefit, through
its ownership interest in Barnett, and from the synergies to be achieved through
the integration of LeRan's business into Barnett's successful telemarketing and
distribution capabilities."
Waxman Industries, Inc. is a leading supplier to the repair and
remodeling market in the United States. Through its wholly owned subsidiaries,
Consumer Products, WOC, WAMI and TWI, and its affiliate, Barnett Inc., the
Company markets and distributes a broad range of plumbing, electrical and
hardware products to over 55,000 customers in the United States.
CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995. Statements in this Press Release may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended, and
-5-
<PAGE> 2
Section 21E of the Securities Exchange Act of 1934, as amended, including any
statements contained herein which are not historical facts or which contain the
words expect, believe or anticipate which shall be deemed to be forward-looking
statements.
-6-
<PAGE> 1
EXHIBIT 99.2
WAXMAN NYSE: WAX
Waxman Industries, Inc. N E W S R E L E A S E
FOR ADDITIONAL INFORMATION, CONTACT:
At The Company: At The Financial Relations Board, Inc.:
Armond Waxman, President Kathleen M. Brunson
216-439-1830 312-266-7800 (Chicago)
Mark Wester, Vice President-Finance Regina K. Ryan
216-439-1830 212-661-8030 (New York)
FOR IMMEDIATE RELEASE
Waxman Industries, Inc. Announces Sale of Division
--------------------------------------------------
BEDFORD HEIGHTS, OHIO -- July 2, 1997 -- Waxman Industries, Inc.
(NYSE:WAX), through its indirect subsidiary WOC Inc., announced today that it
had completed the sale of all of the assets of LeRan Gas Products to Barnett
Inc. (Nasdaq:BNTT), a former subsidiary of Waxman for $4.0 million, subject to
certain post closing adjustments. Waxman continues to own 44.5% of Barnett.
Waxman Industries, Inc. is a leading supplier to the repair and
remodeling market in the United States. Through its wholly owned subsidiaries,
Consumer Products, WOC, WAMI and TWI, and its affiliate, Barnett Inc., the
Company markets and distributes a broad range of plumbing, electrical and
hardware products to over 55,000 customers in the United States.
-7-
