<PAGE> 1
FORM 11-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[ X ] Annual Report Pursuant to Section 15(d) of the Securities
Exchange Act of 1934 (Fee Required)
For the Fiscal Year ended December 31, 1994
[ ] Transition Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934 (No Fee Required)
For the Transition Period from to
WYMAN-GORDON COMPANY SAVINGS/INVESTMENT PLAN
(Full Title of the Plan)
WYMAN-GORDON COMPANY
244 WORCESTER STREET
P.O. BOX 8001
NORTH GRAFTON, MASSACHUSETTS 01536-8001
(Name of Issuer of the Securities Held
Pursuant to the Plan and the Address
of its Principal Executive Offices)
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<PAGE> 2
ITEM 1. CHANGES IN THE PLAN
Wyman-Gordon Company ("the Company") amended and restated the
Wyman-Gordon Company Savings/Investment Plan ("the Plan"). The
Company issued the Wyman-Gordon Company Savings/Investment Plan,
Plan and Trust Agreement, Second Complete Amendment and
Restatement December 20, 1994, generally effective April 1, 1992.
Pursuant to a stock purchase agreement between Cooper Industries,
Inc. and Wyman-Gordon Company, effective May 27, 1994, Wyman-
Gordon Forgings, Inc. (WGFI), formerly known as Cameron Forged
Products Company, became a subsidiary of Wyman-Gordon Company.
Effective as of July 1, 1994, assets from the Cooper Industries,
Inc. Savings and Stock Ownership Plan and the Cameron Iron Works,
USA, Inc. Savings Investment Plan for Hourly Employees
attributable to participants who prior to May 27, 1994, were
employees of Cameron Forged Products Company and who on May 27,
1994 became employees of Wyman-Gordon Forgings, Inc., a subsidiary
of the Wyman-Gordon Company, were transferred to this Plan.
ITEM 2. CHANGES IN INVESTMENT POLICY
Effective as of July 1, 1994, assets from the Cooper Industries,
Inc. Savings and Stock Ownership Plan and the Cameron Iron Works,
USA, Inc. Savings Investment Plan for Hourly Employees
attributable to participants who prior to May 27, 1994, were
employees of Cameron Forged Products Company and who on May 27,
1994 became employees of WGFI, a subsidiary of the Company, were
transferred to this Plan. The assets included Cooper Common Stock
and Cooper Preferred Stock which assets are held in the Cooper
Common Stock Fund and Cooper Preferred Stock Fund, respectively.
A Participant's or Beneficiary's existing investment in the Cooper
Common Stock Fund and the Cooper Preferred Stock Fund as of July
1, 1994 and earnings thereon may continue to be invested in such
Funds until such time as the Participant or Beneficiary otherwise
elects to invest such portion of his or her Accounts or the
Administrator directs the liquidation of such Funds. The Cooper
Common Stock Fund and the Cooper Preferred Stock Fund are not
designated as available for investment by Participants or
Beneficiaries, except to the extent a Participant or Beneficiary
is permitted to exchange all or a portion of his or her investment
in the Cooper Preferred Stock Fund for an equivalent investment in
the Cooper Common Stock Fund.
Effective May 2, 1994, the Plan expanded its investment
options to include Stagecoach LifePath Funds.
ITEM 3. CONTRIBUTIONS UNDER THE PLAN
Under the terms of the Plan any contributions made by or on
behalf of the Participant of between 2% and 5% of a Participant's
annual compensation are matched by Wyman-Gordon Company ("the
Company") at its discretion at a rate determined by the Company's
Chief Executive Officer.
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<PAGE> 3
ITEM 3. CONTRIBUTIONS UNDER THE PLAN, (Continued)
Effective April 1, 1993, the Company changed its contribution
policy whereby a stock match program was implemented for employees
of the Forgings Division. The Company matches 50% of each
Participant's quarterly contributions to the Plan with Wyman-
Gordon Company stock. Amounts eligible for the 50% stock match
are limited to 5% of the Participant's salary. The employer may
change the 50% matching rate or the 5% of considered pay to any
other percentages including 0%. The first quarterly match occurred
for the quarter beginning April 1, 1993 and ending June 30, 1993.
The Wyman-Gordon stock match amounted to $637,779 in 1994.
Under the terms of the Plan as subsequently amended on April
1, 1992, the Company's wholly-owned subsidiary Wyman-Gordon
Investment Castings, Inc. (WGIC) will match 25% of each eligible
WGIC Participant's pre-tax contributions for the period, provided
no WGIC match contributions shall be made based upon a
Participant's contribution in excess of 15% of his or her pay.
The Company may change the 25% matching rate or the 15% of
considered pay to any other percentages including 0%. The maximum
dollar match is limited to $270 per Participant for the Plan year.
The total 1994 Company match was $262,371.
ITEM 4. PARTICIPATING EMPLOYEES
At December 31, 1994, 3,476 employees were Participants in
the Plan.
ITEM 5. ADMINISTRATION OF THE PLAN
The Plan is administered jointly by a Plan Committee and a
Plan Investment Committee, both of whose members are appointed by
the Company's Chief Executive Officer.
The Plan Committee is responsible for the promulgation and
enforcement of necessary or appropriate rules and regulations for
the administration of the Plan, the interpretation of the terms of
the Plan, and the resolution of questions relating to an
individual's participation in the Plan. At December 31, 1994, the
members of the Plan Committee were:
NAME OFFICE OR POSITION ADDRESS
Raymond L. Raboin Forgings Division- Wyman-Gordon Company
Controller 244 Worcester Street
P.O. Box 8001
North Grafton, MA
01536-8001
David J. Sulzbach W-G Forgings, Inc. W-G Forgings, Inc.
Division - Controller 10825 Telge Road
P.O. Box 40456
Houston, TX
77240-0456
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ITEM 5. ADMINISTRATION OF THE PLAN, (Continued)
NAME OFFICE OR POSITION ADDRESS
Wallace F. Whitney, Vice President, General Wyman-Gordon Company
Jr. Counsel and Clerk 244 Worcester Street
P.O. Box 8001
North Grafton, MA
01536-8001
ITEM 6. CUSTODIAN OF INVESTMENTS
Wells Fargo Bank N.A., 420 Montgomery Street, San Francisco,
California, a Delaware Corporation, is the custodian of the assets
held by the Plan. For the year ended December 31, 1994, Wells
Fargo Bank N.A. was paid fees of approximately $48,000 for its
services, which were paid by the Plan.
Wells Fargo's coverage for property of its customers under
custody and its agents is provided under the Banker's Professional
Liability Insurance which insures the bank and its customers
against all risks of loss resulting directly from one or more
fraudulent or dishonest acts by an employee acting alone or in
collusion with others, committed with the intent to have the
employer sustain a pecuniary loss and to profit personally
thereby, physical loss of property resulting from burglary,
robbery, theft, common law or statutory larceny, mysterious
disappearance or damage thereto, while such property is lodged
within offices or premises anywhere, or while in transit anywhere
in the custody of a messenger. The limit of the coverage for each
loss or claim or annual aggregate excess of deductible is $105
million.
ITEM 7. REPORTS TO PARTICIPATING EMPLOYEES
Each Participant is furnished with a quarterly statement
summarizing the activity within their investment accounts for the
quarter as well as the value of their investment accounts as of
the end of the quarter.
ITEM 8. INVESTMENT OF FUNDS
(a) For the three years ended December 31, 1994, no direct
brokerage commissions were paid by the Plan.
(b) During the year ended December 31, 1994, neither the
Plan nor any Investment Manager for the Plan, pursuant to an
agreement or understanding with a broker or otherwise through an
internal allocation procedure, directed the Plan's brokerage
transactions to a broker or brokers because of research services
provided.
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ITEM 9. FINANCIAL STATEMENTS AND EXHIBITS
(a) The Financial Statements of the Plan consisting of the
following are filed herewith:
(1) Report of Independent Auditors
(2) Statements of Net Assets Available for Plan
Benefits as of December 31, 1994 and 1993
(3) Statements of Changes in Net Assets Available for
Plan Benefits for the Years Ended December 31,
1994, 1993 and 1992
(4) Supplemental Schedules
(b) Exhibits: Page
(1) The Wyman-Gordon Company Savings/Investment
Plan is incorporated by reference to
Registration Statement No. 33-26980
on Form S-8. -
(2) Agreement establishing the Wyman-Gordon
Savings/Investment Trust is incorporated
by reference to Registration Statement
No. 33-26980 on Form S-8. -
(3) Consent of Independent Auditors R-3
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<PAGE> 6
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Plan Committee of Wyman-Gordon Company has duly
caused this Annual Report to be signed on its behalf by the
undersigned hereunto duly authorized.
WYMAN-GORDON COMPANY
SAVINGS/INVESTMENT PLAN
Date 6/23/95 By /s/ Andrew C. Genor
Andrew C. Genor
Vice President -
Chief Financial Officer
and Treasurer
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WYMAN-GORDON COMPANY
SAVINGS/INVESTMENT PLAN
FINANCIAL STATEMENTS AND
SUPPLEMENTAL SCHEDULES
For the Years Ended December 31, 1994, 1993 and 1992
with
Report of Independent Auditors
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<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Index to Financial Statements and
Supplemental Schedules
Pages
<S> <C>
Report of Independent Auditors R-2
Consent of Independent Auditors R-3
Financial Statements:
Statements of Net Assets Available for Plan
Benefits as of December 31, 1994 and 1993 R-4
Statements of Changes in Net Assets Available
for Plan Benefits for the years ended
December 31, 1994, 1993 and 1992 R-5A1/R-5C1
Notes to Financial Statements R-6
Additional Information for Item 30(a) -
Supplemental Schedule of Assets Held for
Investment Purposes as at December 31, 1994 R-17
Additional Information for Item 30(d) -
Supplemental Schedule of Reportable Transactions
for the Year Ended December 31, 1994 R-18A/R-18B
</TABLE>
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REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
To The Trustees of Wyman-Gordon Company
Savings and Investment Plan
We have audited the accompanying statements of net assets
available for plan benefits of the Wyman-Gordon Company Savings
and Investment Plan as of December 31, 1994 and 1993, and the
related statements of changes in net assets available for plan
benefits for each of the three years in the period ended December
31, 1994. These financial statements are the responsibility of
the Plan's management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for
plan benefits of the Wyman-Gordon Company Savings and Investment
Plan as of December 31, 1994 and 1993, and the changes in net
assets available for plan benefits for each of the three years in
the period ended December 31, 1994, in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the
basic financial statements taken as a whole. The accompanying
supplemental schedules of assets held for investment purposes at
December 31, 1994 and reportable transactions for the year then
ended are presented for purposes of complying with the Department
of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974, and are
not a required part of the basic financial statements. The Fund
Information in the statement of changes in net assets available
for benefits is presented for purposes of additional analysis
rather than to present the changes in net assets available for
benefits of each fund. The supplemental schedules and Fund
Information have been subjected to the auditing procedures applied
in our audits of the basic financial statements and, in our
opinion, are fairly stated in all material respects in relation to
the basic financial statements taken as a whole.
Ernst & Young LLP
Boston, Massachusetts
May 12, 1995
R-2<PAGE>
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CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration
Statement (Form S-8 No. 33-26980) pertaining to the Wyman-Gordon
Company Savings and Investment Plan of our report dated May 12,
1995, with respect to the financial statements and schedules of
the Wyman-Gordon Company Savings and Investment Plan included in
this Annual Report (Form 11-K) for the year ended December 31,
1994.
Ernst & Young LLP
Boston, Massachusetts
June 20, 1995
R-3<PAGE>
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<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statements of Net Assets Available for Plan Benefits
as of December 31, 1994 and 1993
1994 1993
Invest- 1994 Invest- 1993
ment Fair ment Fair
at Cost Value at Cost Value
<S> <C> <C> <C> <C>
ASSETS
Investments,
at fair value:
Collective Investment
Funds:
Income Accumulation
Fund of Wells Fargo
Bank N.A. $18,644,060 $18,644,060 $6,877,696 $ 6,877,696
Stagecoach LifePath
2000 736,062 710,998 - -
Stagecoach LifePath
2010 580,976 557,322 - -
Stagecoach LifePath
2020 301,464 291,298 - -
Stagecoach LifePath
2030 96,950 93,911 - -
Stagecoach LifePath
2040 57,792 56,489 - -
Stagecoach Asset
Allocation 8,236,243 7,608,252 9,332,544 9,191,320
Stagecoach Growth
Stock Fund 5,397,280 5,482,552 3,570,692 3,546,299
Stagecoach S&P 500
Fund 8,176,592 7,946,770 2,778,674 2,803,201
Stagecoach U.S.
Treasury
Allocation 6,744,036 6,340,582 3,744,521 3,536,396
47,732,234 25,954,912
Wyman-Gordon Stock
Fund 2,525,422 2,742,318 976,299 936,903
Cooper Common Stock 1,440,005 1,396,805 - -
Cooper Preferred
Stock 1,856,733 1,770,543 - -
Participant Loans 1,443,050 527,677
55,084,950 27,419,492
LIABILITIES
Participants' withdrawals and
benefits payable - -
Net assets available for
plan benefits $55,084,950 $27,419,492
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-4<PAGE>
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<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1994
Stage- Stage- Stage-
coach coach coach
Income LifePath LifePath LifePath
Accumulation 2000 2010 2020
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 809,668 $ 67,337 $ 38,523 $ 28,610
Employer 101,776 - - -
Rollovers 5,413,418 - - -
6,324,862 67,337 38,523 28,610
Interest 495,137 14,449 13,685 5,720
Net appreciation
(depreciation)
in fair market
value of
investments - (27,001) (25,822) (12,804)
Total Additions 6,819,999 54,785 26,386 21,526
DEDUCTIONS
Participants'
withdrawals (1,137,465) (11,238) (18) (440)
Plan administrative
expenses (12,689) (253) (188) (256)
Net transfers/
adjustments
in (out) 6,096,519 667,704 531,142 270,468
Total (deductions)
additions 4,946,365 656,213 530,936 269,772
Increase (decrease)
in net assets
available for
plan benefits 11,766,364 710,998 557,322 291,298
Net assets
available for
plan benefits:
Beginning of
year 6,877,696 - - -
End of year $18,644,060 $ 710,998 $ 557,322 $ 291,298
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5A1<PAGE>
<PAGE> 13
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1994 (Continued)
Stage- Stage- Stage- Stage-
coach coach coach coach
LifePath LifePath Asset Growth
2030 2040 Allocation Stock
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 12,471 $ 8,015 $ 804,846 $ 715,368
Employer - - 29,641 28,950
Rollovers - - - -
12,471 8,015 834,487 744,318
Interest 1,440 558 424,235 35,584
Net appreciation
(depreciation)
in fair market
value of
investments (3,933) (2,919) (721,805) 91,776
Total Additions 9,978 5,654 536,917 871,678
DEDUCTIONS
Participants'
withdrawals - (32) (879,679) (281,156)
Plan administrative
expenses (116) (66) (8,965) (7,430)
Net transfers/
adjustments
in (out) 84,049 50,933 (1,231,341) 1,353,161
Total (deductions)
additions 83,933 50,835 (2,119,985) 1,064,575
Increase (decrease)
in net assets
available for
plan benefits 93,911 56,489 (1,583,068) 1,936,253
Net assets
available for
plan benefits:
Beginning of
year - - 9,191,320 3,546,299
End of year $ 93,911 $ 56,489 $7,608,252 $5,482,552
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5A2<PAGE>
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<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1994 (Continued)
Stage-
Stage- coach Cooper Cameron
coach Treasury Common Forged
S&P 500 Allocation Stock Equity
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 800,142 $ 408,998 $ - $ -
Employer 63,175 38,829 - -
Rollover - 10,236,415 1,512,038 5,510,596
863,317 10,684,242 1,512,038 5,510,596
Interest 204,286 449,402 - -
Net appreciation
(depreciation)
in fair market
value of
investments (276,891) (548,233) (23,960) 101,705
Total Additions 790,712 10,585,411 1,488,078 5,612,301
DEDUCTIONS
Participants'
withdrawals (440,465) (225,791) (13,894) (28,119)
Plan administrative
expenses (7,770) (6,735) - -
Net transfers/
adjustments
in (out) 4,801,092 (7,548,699) (77,379) (5,584,182)
Total (deductions)
additions 4,352,857 (7,781,225) (91,273) (5,612,301)
Increase (decrease)
in net assets
available for
plan benefits 5,143,569 2,804,186 1,396,805 -
Net assets
available for
plan benefits:
Beginning of
year 2,803,201 3,536,396 - -
End of year $7,946,770 $6,340,582 $1,396,805 $ -
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5A3<PAGE>
<PAGE> 15
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1994 (Continued)
Cooper W-G
Preferred Stock Fund Loans Total
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ - $ 204,216 $ - $ 3,898,194
Employer - 637,779 - 900,150
Rollover 2,116,152 - 767,010 25,555,629
2,116,152 841,995 767,010 30,353,973
Interest - - 82,099 1,726,595
Net appreciation
(depreciation)
in fair market
value of
investments (42,635) 311,569 - (1,180,953)
Total Additions 2,073,517 1,153,564 849,109 30,899,615
DEDUCTIONS
Participants'
withdrawals (61,340) (47,343) (59,513) (3,186,493)
Plan administrative
expenses (403) (2,793) - (47,664)
Net transfers/
adjustments
in (out) (241,231) 701,987 125,777 -
Total (deductions)
additions (302,974) 651,851 66,264 (3,234,157)
Increase (decrease)
in net assets
available for
plan benefits 1,770,543 1,805,415 915,373 27,665,458
Net assets
available for
plan benefits:
Beginning of
year - 936,903 527,677 27,419,492
End of year $1,770,543 $2,742,318 $1,443,050 $55,084,950
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5A4<PAGE>
<PAGE> 16
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1993
U.S.
Asset Growth S&P 500 Treasury
Allocation Stock Stock Allocation
Fund Fund Fund Fund
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 716,590 $ 468,311 $ 400,918 $ 273,848
Employer 32,771 28,481 25,221 17,430
749,361 496,792 426,139 291,278
Net appreciation
in fair market
value of
investments 1,107,163 301,819 194,806 453,011
Total Additions 1,856,524 798,611 620,945 744,289
DEDUCTIONS
Participants'
withdrawals (329,325) (67,967) (154,542) (70,430)
Plan administrative
expenses (4,719) (2,535) (2,366) (1,730)
Net transfers/
adjustments
in (out) (8,418,106) (3,013,458) (2,668,193) (2,861,572)
Total (deductions)
additions (8,752,150) (3,083,960) (2,825,101) (2,933,732)
Increase (decrease)
in net assets
available for
plan benefits (6,895,626) (2,285,349) (2,204,156) (2,189,443)
Net assets
available for
plan benefits:
Beginning of
year 6,895,626 2,285,349 2,204,156 2,189,443
End of year $ - $ - $ - $ -
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5B1<PAGE>
<PAGE> 17
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1993 (Continued)
Income
Accumu- Wellsfunds Wellsfunds
lation Asset Growth Wellsfunds
Fund Allocation Stock S&P 500
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 465,374 $ 220,766 $ 146,954 $ 124,334
Employer 12,722 3,508 2,935 3,198
478,096 224,274 149,889 127,532
Interest 380,317 154,026 100,831 18,975
Net appreciation
(depreciation)
in fair market
value of
investments - (140,044) (24,531) 25,788
Total Additions 858,413 238,256 226,189 172,295
DEDUCTIONS
Participants'
withdrawals (1,409,326) (67,963) (69,626) (65,465)
Plan administrative
expenses (7,022) (1,400) (871) (742)
Net transfers/
adjustments
in (out) (2,077,179) 9,022,427 3,390,607 2,697,113
Total (deductions)
additions (3,493,527) 8,953,064 3,320,110 2,630,906
Increase (decrease)
in net assets
available for
plan benefits (2,635,114) 9,191,320 3,546,299 2,803,201
Net assets
available for
plan benefits:
Beginning of
year 9,512,810 - - -
End of year $6,877,696 $9,191,320 $3,546,299 $2,803,201
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5B2<PAGE>
<PAGE> 18
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1993 (Continued)
Wellsfunds W-G
Treasury Stock
Allocation Fund Loans Total
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 93,169 $107,905 $ - $ 3,018,169
Employer 2,753 272,686 - 401,705
95,922 380,591 - 3,419,874
Interest 151,623 - 29,357 835,129
Net appreciation
(depreciation)
in fair market
value of
investments (210,649) (71,650) - 1,635,713
Total Additions 36,896 308,941 29,357 5,890,716
DEDUCTIONS
Participants'
withdrawals (69,738) (29,892) (6,190) (2,340,464)
Plan administrative
expenses (14,948) (1,094) - (37,427)
Net transfers/
adjustments
in (out) 3,584,186 111,209 232,966 -
Total (deductions)
additions 3,499,500 80,223 226,776 (2,377,891)
Increase (decrease)
in net assets
available for
plan benefits 3,536,396 389,164 256,133 3,512,825
Net assets
available for
plan benefits:
Beginning of
year - 547,739 271,544 23,906,667
End of year $3,536,396 $936,903 $527,677 $27,419,492
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5B3<PAGE>
<PAGE> 19
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1992
W-G Asset
Income Equity Stock Allocation
Fund Fund Fund Fund
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 301,852 $ 29,040 $ 74,443 $ 666,789
Employer - - 4,754 32,565
301,852 29,040 79,197 699,354
Interest 8,302 1,047 - -
Net appreciation
in fair market
value of
investments 245,647 379,224 56,639 477,901
Total Additions 555,801 409,311 135,836 1,177,255
DEDUCTIONS
Participants'
withdrawals (1,257,974) (9,739) (10,769) (92,237)
Net transfers/
adjustments
in (out) (19,236,406) (2,240,879) 300,255 5,810,608
Total (deductions)
additions (20,494,380) (2,250,618) 289,486 5,718,371
Increase (decrease)
in net assets
available for
plan benefits (19,938,579) (1,841,307) 425,322 6,895,626
Net assets
available for
plan benefits:
Beginning of
year 19,938,579 1,841,307 122,417 -
End of year $ - $ - $547,739 $6,895,626
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5C1<PAGE>
<PAGE> 20
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1992 (Continued)
U.S.
Income Growth S&P 500 Treasury
Accumulation Stock Stock Allocation
Fund Fund Fund Fund
<S> <C> <C> <C> <C>
ADDITIONS
Contributions:
Employee $ 427,319 $ 370,964 $ 295,226 $ 230,500
Employer 29,638 25,936 24,009 17,864
456,957 396,900 319,235 248,364
Interest 576,466 - - -
Net appreciation
in fair market
value of
investments - 368,368 145,552 127,230
Total Additions 1,033,423 765,268 464,787 375,594
DEDUCTIONS
Participants'
withdrawals (1,413,383) (21,075) (87,419) (26,551)
Net transfers/
adjustments
in (out) 9,892,770 1,541,156 1,826,788 1,840,400
Total (deductions)
additions 8,479,387 1,520,081 1,739,369 1,813,849
Increase (decrease)
in net assets
available for
plan benefits 9,512,810 2,285,349 2,204,156 2,189,443
Net assets
available for
plan benefits:
Beginning of
year - - - -
End of year $9,512,810 $2,285,349 $2,204,156 $2,189,443
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5C2<PAGE>
<PAGE> 21
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 1992 (Continued)
Loans Total
<S> <C> <C>
ADDITIONS
Contributions:
Employee $ - $ 2,396,133
Employer - 134,766
- 2,530,899
Interest 6,236 592,051
Net appreciation
in fair market
value of
investments - 1,800,561
Total Additions 6,236 4,923,511
DEDUCTIONS
Participants'
withdrawals - (2,919,147)
Net transfers/
adjustments
in (out) 265,308 -
Total (deductions)
additions 265,308 (2,919,147)
Increase (decrease)
in net assets
available for
plan benefits 271,544 2,004,364
Net assets
available for
plan benefits:
Beginning of
year - 21,902,303
End of year $271,544 $23,906,667
</TABLE>
The accompanying notes are an integral part of these financial
statements.
R-5C3<PAGE>
<PAGE> 22
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS
1. PLAN DESCRIPTION
The Wyman-Gordon Company Savings/Investment Plan ("the Plan")
is a single employer defined contribution plan covering
certain employees of Wyman-Gordon Company ("the Company").
The Plan was established on January 1, 1981 for the purpose
of providing eligible employees with opportunities for (I)
convenient and regular personal savings; (II) sharing in
contributions by the Company out of its current and
accumulated net profits; and (III) supplementing retirement
benefits. The Plan is a single-employer contributory Plan
which is funded by a trust arrangement with the Wyman-Gordon
Savings/Investment Trust (the "Trust").
ELIGIBILITY
Wyman-Gordon Company ("the Company") amended and restated the
Wyman-Gordon Company Savings/Investment Plan ("the Plan").
The Company issued the Wyman-Gordon Company Savings/
Investment Plan, Plan and Trust Agreement, Second Complete
Amendment and Restatement December 20, 1994, generally
effective April 1, 1992. Pursuant to a stock purchase
agreement between Cooper Industries, Inc. and Wyman-Gordon
Company, effective May 27, 1994, Wyman-Gordon Forgings, Inc.
(WGFI), formerly known as Cameron Forged Products Company,
became a subsidiary of the Wyman-Gordon Company. Effective
as of July 1, 1994, assets from the Cooper Industries, Inc.
Savings and Stock Ownership Plan and the Cameron Iron Works,
USA, Inc. Savings Investment Plan for Hourly Employees
attributable to participants who prior to May 27, 1994, were
employees of Cameron Forged Products Company and who on May
27, 1994 became employees of Wyman-Gordon Forgings, Inc., a
subsidiary of the Wyman-Gordon Company, were transferred to
this Plan.
Effective April 1, 1993, the Plan was amended to allow
Company employees covered under the Collective Bargaining
Agreement to participate in the Plan. Previously, any full-
time weekly or monthly employee not covered by a Collective
Bargaining Agreement who has been continuously employed by
the Company (or a participating subsidiary) for at least six
months is eligible to participate in the Plan.
FEDERAL INCOME TAXES
The Internal Revenue Service (IRS) made a favorable
determination in a letter dated September 15, 1986 that the
Plan is qualified under Section 401(a) and 401(k) of the
Internal Revenue Code (the "Code"), and accordingly, the
Trust thereunder has been determined to be exempt from
taxation under provisions of Section 501(a) of the Code. It
is not anticipated that amendments made to the Plan after the
IRS' determination letter will affect the qualified and tax
exempt status of the Plan and Trust respectively.
R-6<PAGE>
<PAGE> 23
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
EMPLOYEE CONTRIBUTIONS
Upon becoming a Participant, an eligible employee may elect
to reduce his or her compensation between 1% and 15% and have
such amount contributed to the Plan by the employer as a
pre-tax contribution. With regard to a participant who is a
WGFI hourly employee, 20% is the maximum contribution. The
election shall be made in advance as a whole percentage of
their compensation. Additionally, an eligible employee may
elect to make after-tax contributions to the Plan subject to
the percentage limitations discussed above.
In addition, in no event shall the contributions made by or
on behalf of a Participant for a Plan year exceed certain
limitations as required by the Employee Retirement Income
Security Act of 1974 (ERISA). The Internal Revenue Code also
includes provisions which limit the amount of employer
contributions which may be made on behalf of any individual
Participant.
COMPANY CONTRIBUTIONS
Effective April 1, 1993, the Company changed its contribution
policy whereby a stock match program was implemented for
employees of the Forgings Division. The Company matches 50%
of each Participant's quarterly contributions to the Plan
with Wyman-Gordon Company stock. Amounts eligible for the
50% stock match are limited to 5% of the Participant's
salary. The employer may change the 50% matching rate or the
5% of considered pay to any other percentages including 0%.
The first quarterly match occurred for the quarter beginning
April 1, 1993 and ending June 30, 1993. The Wyman-Gordon
stock match amounted to $637,779 and $272,686 in 1994 and
1993, respectively.
Under the terms of the Plan as subsequently amended on April
1, 1992, the Company's wholly-owned subsidiary Wyman-Gordon
Investment Castings, Inc. (WGIC) will match 25% of each
eligible WGIC Participant's pre-tax contributions for the
period, provided no WGIC match contributions shall be made
based upon a Participant's contribution in excess of 15% of
his or her pay. The Company may change the 25% matching rate
or the 15% of considered pay to any other percentages
including 0%. The maximum dollar match is limited to $270
per Participant for the Plan year. The total Company match
for Plan years 1994, 1993 and 1992 was $262,371, $133,948,
$134,766, respectively.
R-7<PAGE>
<PAGE> 24
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
PARTICIPANT ACCOUNTS
Each Participant's account is credited with the Participant's
contribution and allocation of the Company's contribution,
Plan earnings, and forfeitures of terminated Participants'
nonvested accounts. Allocations are based on Participant
earnings or account balances, as defined. The benefit to
which a Participant is entitled is the benefit that can be
provided from the Participant's account.
INVESTMENT FUNDS
Effective as of July 1, 1994, assets from the Cooper
Industries, Inc. Savings and Stock Ownership Plan and the
Cameron Iron Works, USA, Inc. Savings Investment Plan for
Hourly Employees attributable to participants who prior to
May 27, 1994, were employees of Cameron Forged Products
Company and who on May 27, 1994 became employees of WGFI, a
subsidiary of the Company, were transferred to this Plan.
The assets included Cooper Common Stock and Cooper Preferred
Stock which are held in the Cooper Common Stock Fund and
Cooper Preferred Stock Fund, respectively. A Participant's
or Beneficiary's existing investment in the Cooper Common
Stock Fund and the Cooper Preferred Stock Fund as of July 1,
1994 and earnings thereon may continue to be invested in such
Funds until such time as the Participant or Beneficiaries
otherwise elects to invest such portion of his or her
Accounts or the Administrator directs the liquidation of such
Funds. The Cooper Common Stock Fund and the Cooper Preferred
Stock Fund are not designated as available for investment by
Participants or Beneficiaries, except to the extent a
Participant or Beneficiary is permitted to exchange all or a
portion of his or her investment in the Cooper Preferred
Stock Fund for an equivalent investment in the Cooper Common
Stock Fund.
Effective May 2, 1994, the Company added Stagecoach LifePath
Funds to the menu of investment options. LifePath Funds are
part of the Stagecoach family of Mutual Funds sponsored and
distributed by Stephens, Inc. Member NYSE/SIPC and advised
by Wells Fargo Bank. During 1994 Wells Fargo changed the
name of its funds from "Wellsfunds" to "Stagecoach."
Effective October 1, 1993, the Company converted certain of
its investments in Wells Fargo collective trust funds to
Wells Fargo mutual funds.
R-8<PAGE>
<PAGE> 25
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
INVESTMENT FUNDS, (Cont.)
Participants in the Plan have the following 13 investment
funds available:
The Stagecoach Asset Allocation Fund seeks to achieve
superior long-term gains at reasonable risk by actively
shifting investment among common stocks, U.S. Treasury bonds
and money market instruments. The investment strategy of the
Asset Allocation Fund focuses on the relative attractiveness
of asset classes at given points in time. The Fund uses a
computerized portfolio selection model to determine the
optimum mix among stocks, bonds and money market instruments.
There were 673 Participants in the Stagecoach Asset
Allocation Fund at December 31, 1994.
The Stagecoach U.S. Treasury Allocation Fund seeks to achieve
over the long-term a high rate of return at reasonable risk
by actively shifting investment among three classes of debt
securities. The Fund pursues a strategy of allocating and
reallocating investment among long-term bonds, intermediate-
term notes and 90 Day Treasury bills. The Fund invests in
U.S. Treasury bonds with maturities of 20 years or more, U.S.
Treasury notes with maturities of 5-7 years and U.S. Treasury
bills. The Fund attempts to realize long-term performance
which is superior to investment in any individual fixed-
income class. There were 580 Participants in the Stagecoach
Treasury Allocation Fund at December 31, 1994.
The Stagecoach S&P 500 Stock Fund seeks to achieve the same
total rate of return as the S&P 500 Index. The S&P 500 Stock
Fund invests in the same stocks and in substantially the same
percentages as the S&P 500 Index. The stocks included in the
Fund represent those held by the Index itself and do not
reflect subjective options concerning individual companies or
industries. There were 874 Participants in the Stagecoach
S&P 500 Stock Fund at December 31, 1994.
The Income Accumulation Fund invests in a mix of fixed-rate
and variable-rate securities with strong credit ratings. The
Fund diversifies its investments by limiting its holdings of
any one issuer to 10% of the Fund assets at the time of
purchase. This limitation does not apply to the U.S.
Government or its agencies. Between 25% and 50% of the Fund
is held in publicly traded instruments. There were 952
Participants in the Income Accumulation Fund at December 31,
1994.
R-9<PAGE>
<PAGE> 26
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
INVESTMENT FUNDS, (Cont.)
The Stagecoach Growth Stock Fund seeks to provide investors
an above average rate of return as measured against the S&P
500 Index and against similar growth stock funds, through the
active management of a diversified portfolio of growth
oriented common stocks. The Fund will invest primarily in
common stocks that are expected to generate above market
rates of growth in revenues and earnings. There were 704
Participants in the Stagecoach Growth Stock Fund at December
31, 1994.
LifePath Funds
Each LifePath Fund seeks to provide long-term investors with
an asset allocation strategy designed to maximize assets for
retirement or for other purposes consistent with the
quantitatively measured risk investors, on average, may be
willing to accept given their investment time horizon.
Specifically:
LifePath 2000 Fund is managed for investors planning to
retire (or begin to withdraw substantial portions of their
investment) approximately in the year 2000. There were 37
Participants in the LifePath 2000 Fund at December 31, 1994.
LifePath 2010 Fund is managed for investors planning to
retire (or begin to withdraw substantial portions of their
investment) approximately in the year 2010. There were 34
Participants in the LifePath 2010 Fund at December 31, 1994.
LifePath 2020 Fund is managed for investors planning to
retire (or begin to withdraw substantial portions of their
investment) approximately in the year 2020. There were 32
Participants in the LifePath 2020 Fund at December 31, 1994.
LifePath 2030 Fund is managed for investors planning to
retire (or begin to withdraw substantial portions of their
investment) approximately in the year 2030. There were 31
Participants in the LifePath 2030 Fund at December 31, 1994.
LifePath 2040 Fund is managed for investors planning to
retire (or begin to withdraw substantial portions of their
investment) approximately in the year 2040. There were 9
Participants in the LifePath 2040 Fund at December 31, 1994.
The Wyman-Gordon Stock Fund invests in the common stock of
Wyman-Gordon Company. Amounts contributed to the
Wyman-Gordon Stock Fund may be temporarily invested in other
short-term investments pending the purchase of Company stock.
R-10<PAGE>
<PAGE> 27
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
INVESTMENT FUNDS, (Cont.)
This Fund is subject to a relatively high degree of risk
because it is not a diversified investment and is subject to
any potential volatility in the price of the Company's common
stock. There were 1,344 Participants in the Wyman-Gordon
Stock Fund at December 31, 1994.
The Cooper Common Stock Fund invests in the common stock of
Cooper Industries. Amounts contributed to the Cooper Common
Stock Fund may be temporarily invested in other short-term
investments pending the purchase of Company stock. This Fund
is subject to a relatively high degree of risk because it is
not a diversified investment and is subject to any potential
volatility in the price of the Cooper's common stock. There
were 288 Participants in the Cooper Common Stock Fund at
December 31, 1994.
The Cooper Preferred Stock Fund invests in the common stock
of Cooper Industries. Amounts contributed to the Cooper
Preferred Stock Fund may be temporarily invested in other
short-term investments pending the purchase of Company stock.
This Fund is subject to a relatively high degree of risk
because it is not a diversified investment and is subject to
any potential volatility in the price of the Cooper's
Preferred common stock. There were 127 Participants in the
Cooper Preferred Stock Fund at December 31, 1994.
The Asset Allocation Fund, the Growth Stock Fund and the
LifePath Funds are not offered to Participants who are WGFI
Hourly Employees or Beneficiaries thereof.
DISTRIBUTIONS OF BENEFITS
A Participant (or his or her beneficiary in the case of his
or her death) may elect to have his or her vested account
balance paid to them following their termination of
employment with the Company, by submitting a completed
distribution election form to the Plan Administrator.
A Participant who is a WGFI hourly employee shall be paid in
the form of a single lump sum. Notwithstanding, if he or she
is a WGFI hourly employee at the time he or she is required
by law to commence distribution, or anytime thereafter, may
instead elect to be paid annually in a lump sum an amount
sufficient to comply with Code section 401(a)(9).
R-11<PAGE>
<PAGE> 28
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
DISTRIBUTIONS OF BENEFITS, (Cont.)
A Participant, other than a Participant who is a Wyman-Gordon
Forgings, Inc. Hourly Employee, may elect to be paid in any
of these forms:
(a) a single lump sum, or
(b) effective January 1, 1993, a portion paid in a lump sum,
and the remainder paid later, or
(c) periodic installments over a period not to exceed the
life expectancy of the Participant and his or her
Beneficiary.
Distributions shall be made in cash, except to the extent a
distribution consists of a repayment of any participant loan
and with regard to a single sum payment, except to the extent
a Participant elects payment in the form of whole shares of
Company Stock, Cooper Common Stock and Cooper Preferred Stock
and cash in lieu of fractional shares to the extent invested
in the Company Stock Fund, Cooper Common Stock Fund and
Cooper Preferred Stock Fund.
VESTING
A Participant shall be fully vested in these Accounts at all
times:
Pre-Tax Account
After-Tax Account
Rollover Account
WGIC Match Account
Prior Plan Account
A Participant shall also be fully vested in his or her
Company Stock Match Account if (1) his or her hire date is on
or before April 1, 1993 and he or she was an Employee of the
Company on April 1, 1993 or (2) he or she was employed by
WGFI, a subsidiary of the Company, on May 27, 1994, and was
previously employed by Cameron Forged Products Company.
Notwithstanding, prior to the Effective Date, a Participant's
Employer Account became vested in accordance with a vesting
schedule then in effect.
A Participant's entire Account shall become fully vested once
he or she has attained his or her Normal Retirement Date as
an Employee or upon his or her leaving the Employer due to
his or her Disability or death.
R-12<PAGE>
<PAGE> 29
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
VESTING (Cont.)
In addition to the vesting provided above, a Participant's
Company Stock Match Account and Employer Matching Account
shall become vested in accordance with the following
schedules, unless (1) his or her hire date is on or before
April 1, 1993 and he or she was an Employee of the Company on
April 1, 1993 or (2) he or she was employed by WGFI, a
subsidiary of the Company, on May 27, 1994, and was
previously employed by Cameron Forged Products Company:
COMPANY STOCK MATCH ACCOUNT "VESTING SCHEDULE"
YEARS OF VESTING SERVICE VESTED PERCENTAGE
Less than 1 0%
1 but less than 2 20%
2 but less than 3 40%
3 but less than 4 60%
4 but less than 5 80%
5 or more 100%
EMPLOYER MATCHING ACCOUNT "VESTING SCHEDULE"
YEARS OF VESTING SERVICE VESTED PERCENTAGE
Less than 5 0%
5 or more 100%
If this vesting schedule is changed, the vested percentage
for each Participant shall not be less than his or her vested
percentage determined as of the last day prior to this
change, and for any Participant with at least three Years of
Vesting Service when the schedule is changed, vesting shall
be determined using the more favorable vesting schedule.
WITHDRAWALS
Withdrawals may only be made in accordance with the terms of
the Plan. Hardship withdrawals of tax deferred
contributions and related earnings are subject to approval by
the Plan Administrator based upon the Participant's financial
need and are subject to IRS limitations.
Withdrawal of after-tax contributions, rollover account
withdrawals, withdrawals for Participants over age 59 1/2 and
withdrawals for certain Company contributions are allowed for
amounts up to the extent of Participant's account balance
with certain restrictions.
R-13<PAGE>
<PAGE> 30
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
PLAN DESCRIPTION, (Cont.)
PLAN TRUSTEE AND CUSTODIAN
The Plan's Trustee and Custodian of its funds changed during
1992 from State Street Bank and Trust Company to Wells Fargo
Bank N.A.
PARTICIPANT LOANS
Participants may borrow, generally, up to the lesser of 100%
of their total vested account balance in the Plan or $50,000
less the highest outstanding plan loan balance during the
one-year period preceding the date of the new loan. The
loans bear interest at market rates and are repaid in regular
installments within five years. Early prepayment is allowed.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies
followed by the Plan in preparation of its financial
statements. The financial statements are prepared in
accordance with generally accepted accounting principles:
VALUATION OF INVESTMENTS
Investments are valued on the basis of market valuations
provided by independent pricing services. Such valuations
are generally determined as follows:
* Units of Wells Fargo Bank N.A. collective trust funds
are valued on the basis of the unit value established
for each fund at each valuation date. Valuation of
the Funds' units occurs, at a minimum, on a monthly
basis. Unit values are determined by dividing the
value of the Funds' net assets by the number of units
outstanding on the valuation date.
* Stocks and mutual funds traded on security exchanges
are valued at closing market prices on the valuation
date.
SECURITY TRANSACTIONS AND RELATED INVESTMENT INCOME
Security transactions are accounted for on the trade date.
Interest income is accounted for on the daily accrual basis.
Dividend income is recorded on the ex-dividend date. The
cost of securities sold is computed on an average cost basis.
R-14<PAGE>
<PAGE> 31
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, (Cont.)
INVESTMENT INCOME
Net investment income, as earned, is allocated to Participant
accounts and reinvested. The Plan presents, in the
Statements of Changes in Net Assets Available for Plan
Benefits, net appreciation (depreciation) in the fair market
value of investments which consists of the realized gains or
losses and the unrealized appreciation (depreciation) on
those investments. Income from investments is recorded as
earned on an accrual basis.
PURCHASES AND REDEMPTIONS OF UNITS
The value of participating units, upon admission to or
withdrawal from the Funds, is based upon the market value of
net assets held as of the valuation date. Upon purchase or
redemption of units by a Participant, transaction costs
incurred for the related security transactions are borne by
that Participant.
EXPENSES
Account maintenance, transaction fees and expenses and
investment fund management and maintenance fees are paid by
the Participants; all other fees are paid by the Company.
3. PLAN LIABILITIES
Wells Fargo Bank uses a daily valuation method whereby all
account activity and related transactions take place on the
same day as the day of record. Therefore, all benefit
payments to Participants or Plan expenses are paid from the
various funds on a current basis and at December 31, 1994
there were no accrued liabilities for the Plan.
R-15<PAGE>
<PAGE> 32
Wyman-Gordon Company Savings/Investment Plan
NOTES TO FINANCIAL STATEMENTS, (Cont.)
4. INVESTMENTS
The fair value of individual investments that represent 5% or
more of the Plan's net assets are as follows:
1994 1993
Wells Fargo Bank N.A., Stagecoach
Asset Allocation Fund
(804,255 shares and 894,968 shares) $ 7,608,252 $9,191,320
Wells Fargo Bank N.A., Stagecoach
Growth Stock Fund (488,641 shares
and 322,098 shares) 5,482,552 3,546,299
Wells Fargo Bank N.A., Stagecoach
S&P 500 Fund (781,393 shares and
268,506 shares) 7,946,770 2,803,201
Wells Fargo Bank N.A., Stagecoach
U.S. Treasury Allocation Fund
(725,583 shares and 356,132 shares) 6,340,582 3,536,396
Wells Fargo Bank N.A., Income
Accumulation Fund (1,600,829 shares
and 613,762 shares) 18,644,060 6,877,696
5. OTHER MATTERS
During the years ended December 31, 1994 and 1993 there were
no loans, fixed income obligations or leases in default or
classified as uncollectible by the Plan.
R-16<PAGE>
<PAGE> 33
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Additional Information for Item 30(a)
Supplemental Schedule of Assets Held for Investment Purposes
as at December 31, 1994
(b) Description
of investment
ment including
maturity date,
(a) Identity of issue rate of interest,
borrowers, lessor, or collateral par (d) Current
similar party or maturity value (c) Cost value
<S> <C> <C> <C>
Wells Fargo Bank N.A. 74,528 Shares
Stagecoach
LifePath 2000 Fund $ 736,062 $ 710,998
Wells Fargo Bank N.A. 58,481 Shares
Stagecoach
LifePath 2010 Fund 580,976 557,322
Wells Fargo Bank N.A. 30,280 Shares
Stagecoach
LifePath 2020 Fund 301,464 291,298
Wells Fargo Bank N.A. 9,772 Shares
Stagecoach
LifePath 2030 Fund 96,950 93,911
Wells Fargo Bank N.A. 5,776 Shares
Stagecoach
LifePath 2040 Fund 57,792 56,489
Wells Fargo Bank N.A. 804,255 Shares
Stagecoach Asset
Allocation Fund 8,236,243 7,608,252
Wells Fargo Bank N.A. 488,641 Shares
Stagecoach Growth
Stock Fund 5,397,280 5,482,552
Wells Fargo Bank N.A. 781,393 Shares
Stagecoach
S&P 500 Fund 8,176,592 7,946,769
Wells Fargo Bank N.A. 725,583 Shares
Stagecoach U.S.
Treasury Allocation
Fund 6,744,036 6,340,583
Wells Fargo Bank N.A. 1,600,829 Shares
Income Accumulation
Fund 18,644,060 18,644,060
</TABLE>
R-17<PAGE>
<PAGE> 34
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Additional Information for Item 30(a)
Supplemental Schedule of Assets Held for Investment Purposes
as at December 31, 1994 (Continued)
(b) Description
of investment
ment including
maturity date,
(a) Identity of issue rate of interest,
borrowers, lessor, or collateral par (d) Current
similar party or maturity value (c) Cost value
<S> <C> <C> <C>
Wells Fargo Bank N.A. 284,473 Shares
Wyman-Gordon
Stock Fund 2,525,422 2,742,318
Wells Fargo Bank N.A. 144,001 Shares
Cooper Common
Stock Fund 1,440,005 1,396,805
Wells Fargo Bank N.A. 185,451 Shares
Cooper Preferred
Stock Fund 1,856,733 1,770,543
$54,793,615 $53,641,900
</TABLE>
R-17A<PAGE>
<PAGE> 35
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Additional Information for Item 30(d)
Supplemental Schedule of Reportable Transactions
For the Year Ended December 31, 1994
(b)Description
of assets
(include interest
(a)Identity of rate and maturity (c)Purchase (d)Selling
party involved in case of a loan) price price
Series (iii) reportable transactions - series of transactions in
excess of 5% of Plan assets:
<S> <C> <C> <C>
Wells Fargo Income Accumulation $13,280,842 -
Fund (189 Purchases, - $2,549,615
91 Sales)
Wells Fargo Stagecoach Asset $ 2,843,413 -
Allocation Fund - $3,704,676
(127 Purchases,
101 Sales)
Wells Fargo Stagecoach Growth $ 3,379,794 -
Stock Fund - $1,535,318
(155 Purchases,
74 Sales)
Wells Fargo Stagecoach S&P 500 $ 7,185,421 -
Fund (178 Purchases, - $1,764,961
94 Sales)
Wells Fargo Stagecoach U.S. $11,139,811 -
Treasury Allocation - $7,903,074
Fund (157 Purchases,
108 Sales)
Wells Fargo Cooper Common Stock $ 1,512,038 -
Fund (1 Purchase, - $ 75,261
(16 Sales)
Wells Fargo Cameron Forged $ 5,510,596 -
Equity Fund - $5,612,302
(2 Purchases,
6 Sales)
Wells Fargo Cooper Preferred $ 2,256,858 -
Stock Fund - $ 406,923
(4 Purchases,
26 Sales)
Wells Fargo Wyman-Gordon Stock $ 2,206,613 -
Fund (154 Purchases, - $ 712,767
78 Sales)
</TABLE>
R-18A<PAGE>
<PAGE> 36
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Additional Information for Item 30(d)
Supplemental Schedule of Reportable Transactions
For the Year Ended December 31, 1994 (Continued)
(h)Current
(f)Expense value of asset
(e)Lease incurred with (g)Cost on transaction (i)Net gain
rental transaction of asset date or (loss)
Series (iii) reportable transactions - series of transactions in
excess of 5% of Plan assets:
<S> <C> <C> <C> <C>
- - - - $13,280,842 $13,280,842 -
- - - - $ 2,549,615 $ 2,549,615 -
- - - - $ 2,843,413 $ 2,843,413 -
- - - - $ 3,939,715 $ 3,704,676 $(235,039)
- - - - $ 3,379,794 $ 3,379,794 -
- - - - $ 1,553,207 $ 1,535,318 $ (17,889)
- - - - $ 7,185,421 $ 7,185,421 -
- - - - $ 1,787,503 $ 1,764,961 $ (22,542)
- - - - $11,139,811 $11,139,811 -
- - - - $ 8,255,979 $ 7,903,074 $(352,905)
- - - - $ 1,512,038 $ 1,512,038 -
- - - - $ 72,033 $ 75,261 $ 3,228
- - - - $ 5,510,596 $ 5,510,596 -
- - - - $ 5,510,596 $ 5,612,302 $ 101,706
- - - - $ 2,256,858 $ 2,256,858 -
- - - - $ 409,125 $ 406,923 $ (2,202)
- - - - $ 2,206,613 $ 2,206,613 -
- - - - $ 657,491 $ 712,767 $ 55,276
</TABLE>
R-18A-1<PAGE>
<PAGE> 37
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Additional Information for Item 30(d)
Supplemental Schedule of Reportable Transactions
For the Year Ended December 31, 1994
(b)Description
of assets
(include interest
(a)Identity of rate and maturity (c)Purchase (d)Selling
party involved in case of a loan) price price
Series (i) reportable transactions - single transactions in excess
of 5% of Plan assets:
<S> <C> <C> <C>
Wells Fargo Income Accumulation $1,372,952 -
Fund (1 Purchase)
Wells Fargo Income Accumulation $4,360,742 -
Fund (1 Purchase)
Wells Fargo Stagecoach U.S. $7,246,792 -
Treasury Allocation
Fund (1 Purchase)
Wells Fargo Stagecoach U.S. - $3,048,705
Treasury Allocation
Fund (1 Sale)
Wells Fargo Cooper Common Stock $1,512,038 -
Fund (1 Purchase)
Wells Fargo Cameron Forged $3,284,792 -
Equity Fund
(1 Purchase)
Wells Fargo Cameron Forged - $1,776,293
Equity Fund
(1 Sale)
Wells Fargo Cameron Forged $2,225,805 -
Equity Fund
(1 Purchase)
Wells Fargo Cameron Forged - $1,485,509
Equity Fund
(1 Sale)
Wells Fargo Stagecoach S&P 500 $1,593,874 -
Fund (1 Purchase)
Wells Fargo Stagecoach U.S $2,527,263 -
Treasury Allocation
Fund (1 Purchase)
</TABLE>
R-18B<PAGE>
<PAGE> 38
<TABLE>
<CAPTION>
Wyman-Gordon Company Savings/Investment Plan
Additional Information for Item 30(d)
Supplemental Schedule of Reportable Transactions
For the Year Ended December 31, 1994 (Continued)
(h)Current
(f)Expense value of asset
(e)Lease incurred with (g)Cost on transaction (i)Net gain
rental transaction of asset date or (loss)
Series (i) reportable transactions - single transactions in excess
of 5% of Plan assets:
<S> <C> <C> <C> <C>
- - - - $1,372,952 $1,372,952 -
- - - - $4,360,742 $4,360,742 -
- - - - $7,246,792 $7,246,792 -
- - - - $3,153,462 $3,048,705 $(104,757)
- - - - $1,512,038 $1,512,038 -
- - - - $3,284,792 $3,284,792 -
- - - - $1,744,152 $1,776,293 $ 32,141
- - - - $2,225,805 $2,225,805 -
- - - - $1,458,988 $1,485,509 $ 26,521
- - - - $1,593,874 $1,593,874 -
- - - - $2,527,263 $2,527,263 -
</TABLE>
R-18B-1
