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
October 22, 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 October 15, 1996 announcing it has agreed to
terms under which its Mechanical Power Transmission Group will be purchased by
Constellation Capital Partners LLC 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.
October 22, 1996 /s/ John E. Rutzler III
John E. Rutzler III
Vice President-Controller
EXHIBIT INDEX
20 Other Documents or Statements to Security Holders
News Release dated October 15, 1996
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EXHIBIT 20
FOR IMMEDIATE RELEASE
October 15, 1996
ZURN MECHANICAL POWER TRANSMISSION TO BE
ACQUIRED BY CONSTELLATION CAPITAL PARTNERS
Erie, PA...Zurn Industries, Inc. (NYSE: ZRN) and Constellation Capital
Partners LLC announced today that the two companies have agreed to terms under
which Zurn's Mechanical Power Transmission Group will be purchased by
Constellation Capital Partners. Headquartered in Erie, Pennsylvania with
operations in LaGrange, Illinois and Woodbridge, New Jersey, Mechanical Power
Transmission is a leading manufacturer of clutches, couplings and universal
joints used in industrial applications.
Announcing the agreement, Zurn Chairman Robert R. Womack said, "This
agreement is beneficial to the Mechanical Power Transmission business and its
employees, to the community, and to our shareholders. Mechanical Power
Transmission is a good business, run by good people and the new ownership will
enhance their prospects for growth. In addition, we are pleased that the
business will continue to be based in its present facilities. Looking to the
future, we welcome the opportunities this transaction will provide for Zurn
management to invest in the growth of Zurn's water control businesses and to
deliver increased value to our shareholders."
Philip Knisely, President of Constellation Capital, commented, "Mechanical
Power Transmission (MPT) represents an excellent platform for growth both
internally and through complementary additional acquisitions. We look forward
to working with Dick Liebson, President of Mechanical Power Transmission, and
all of our associates at MPT to further develop their continuous improvement
program focussed on customer service, quality and cost."
The two companies did not disclose specific terms of the agreement, but
indicated that the sale is expected to be completed by the end of November.
Zurn Industries, Inc. is an industry leader in manufacturing and marketing
plumbing products and in providing water resource construction services and
fire protection systems.
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Contact: Steve Adams
ZURN INDUSTRIES, INC.
Erie, PA 814/452-2111
Contact: John Young
CONSTELLATION CAPITAL PARTNERS LLC
Richmond, VA 804/560-4074
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