FORM 8-K
CURRENT REPORT
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
June 25, 1996
ZURN INDUSTRIES, INC.
IRS Employer
State of Commission Identification
Incorporation File Number Number
Pennsylvania 1-5502 25-1040754
Address and
Telephone Number
One Zurn Place
Erie, Pennsylvania 16505
814-452-2111
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ITEM 5 - OTHER EVENTS
The Company's news release dated June 25, 1996 announcing anticipated reduced
earnings for the first quarter of fiscal 1997 ending June 30, 1996 is
incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ZURN INDUSTRIES, INC.
June 25, 1996 /s/ Dennis Haines
Dennis Haines
General Counsel and Secretary
EXHIBIT INDEX
20 Other Documents or Statements to Security Holders
News Release dated June 25, 1996
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EXHIBIT 20
FOR IMMEDIATE RELEASE
June 25, 1996
ZURN ANTICIPATES REDUCED FIRST QUARTER EARNINGS
Erie, PA...Zurn Industries, Inc. (NYSE: ZRN) announced today that it had
determined its pretax earnings for the first quarter of fiscal 1997 ending
June 30, 1996 would be reduced by approximately $3 million, or $.15 per share,
because of adverse weather and labor conditions at the Australian site of the
power plant being constructed by the 50% owned joint venture of its Power
Systems segment. The Company expects to report first quarter earnings on July
18. Earnings from continuing operations for the quarter ended June 30, 1995
were $.23 per share.
Commenting on the recent deterioration in the project, Zurn Chairman and Chief
Executive Officer Robert R. Womack expressed the Company's disappointment with
the underperformance and stated that, "Immediate action is being taken to
strengthen our confidence in the Power Systems operations, including
management changes and the retention of an international management consulting
firm to provide assistance in achieving operational improvements." Mr. Womack
also noted that, "Fiscal 1997 will be critical to the determination of whether
the Power Systems business can return to profitability and achieve returns
sufficient to warrant additional investments."
Zurn Industries, Inc. is an industry leader in manufacturing and marketing
plumbing products, in supplying equipment and engineering services for small
to mid-size power generation plants and in providing construction services.
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Contact: Steve Adams
ZURN INDUSTRIES, INC.
Erie, PA 814/452-2111
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