SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 14 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 3, 1997
MASTEC, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-3797 59-1259279
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
3155 N.W. 77th Avenue, Miami, Florida 33122-1205
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (305) 599-1800
N/A
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(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events
On September 26, 1997, the Company announced that
the labor unions representing the workers of Sintel, S.A.,
the company's Spanish subsidiary, have announced work
stoppages at Sintel in response to Sintel's application to
the Spanish labor authorities to restructure Sintel's work
force. The unions announced that the workers will not work
two half days per week until a labor agreement is reached.
The Company expects Spanish labor authorities to respond to
the application in mid to late October.
The company has issued a press release announcing
the foregoing event, a copy of which is attached as
exhibit 99.1 which is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c)
99.1 Press release dated September 26,1997.
SIGNATURES
Pursuant to the requirement 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.
Date: October 3, 1997. /s/ Edwin D. Johnson
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Edwin D. Johnson
Senior Vice President-
Chief Financial Officer
(Principal Financial Officer
and Authorized Officer)
EXHIBIT 99.1
NEWS
For Immediate Release From MasTec, Inc.
September 26, 1997 3155 N.W. 77th Avenue,
Suite 135
Miami, Florida 33122-1205
Tel : (305) 599-1800
Fax : (305) 406-1908
For more information contact:
Edwin D. Johnson,
Chief Financial Officer
[email protected]
UNION RESPONSE TO MASTEC'S LABOR PETITION
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today that the labor unions
representing the workers of Sintel, S.A., the company's Spanish subsidiary, have
announced work stoppages at Sintel in response to Sintel's application to the
Spanish labor authorities to restructure Sintel's work force. The unions have
announced that workers will not work two half days per week until a labor
agreement is reached. The Company expects Spanish labor authorities to respond
to the application in mid to late October.
Jorge Mas, President and Chief Executive Officer of MasTec, said: "The temporary
disruption at Sintel is a necessary and expected part of the process in our
attempt to reduce Sintel's cost structure for outside plant services. Our
objective is to correct the imbalanced cost structure at Sintel and bring the
outside plant labor productivity in line with that experienced through the use
of independent contractors."
Independent contractors currently account for approximately 55% of Sintel's
outside plant services revenue. On September 3, the Company announced that it
had filed a petition with Spanish labor authorities to approve a restructuring
of Sintel's work force which would result in approximately 1,400 of Sintel's
workers being removed from payroll and approximately 1,200 being rehired at
lower cost either as independent contractors or as employees of other non-union
affiliates.
Opening the Lines of Communication(R) worldwide, MasTec is one of the world's
leading telecommunications and related infrastructure service providers, serving
clients throughout the United States, Latin America and Spain.
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