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) January 14, 1998
MASTEC, INC.
_______________________________________________
(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
____________________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events
On January 14, 1998, MasTec, Inc. announced that Henry ("Hank") N. Adorno
has been hired as the Company's Executive Vice President and Special Counsel.
Mr. Adorno will report directly to Jorge Mas, President and Chief Executive
Officer of MasTec, and will assume responsibility for the administration of
day-to-day activities. MasTec also announced the appointment of Juan Antonio
Casanova as Chief Executive of Sintel, the Company's Spanish subsidiary. Since
joining the Company this past November, Mr. Casanova has led the negotiations
for a new labor agreement with Sintel's workforce. In addition, the Company has
announced that Ubiratan Rezende, Senior Vice President of International
Operations, who helped establish MasTec's current Brazilian operation, will be
relocating to Sao Paulo, Brazil to spearhead corporate development activities
for MasTec in the region.
On January 15, 1998, MasTec, Inc. announced that Jorge Mas, President and
Chief Executive Officer, was elected by the Board of Directors to the position
of Chairman of the Board. Additionally, MasTec announced the appointment of
Joel-Tomas Citron as a Director.
On January 16, 1998, MasTec, Inc. announced its intent to issue $150
million in senior subordinated notes due in 2008 and use the proceeds from the
offering for general corporate purposes, including acquisitions, working capital
and capital expenditures. The notes are not registered under the Securities Act
or any state securities laws; hence, they will not be offered or sold except
pursuant to an exemption from the registration requirements of Securities Act
and applicable state securities laws. The Company also announced the acquisition
of Weeks Construction Company of Asheboro, North Carolina and M.E. Hunter of
Atlanta, Georgia, two infrastructure contractors in Virginia, Tennessee, North
and South Carolina, Georgia, Alabama and Florida.
The Company has issued press releases announcing the foregoing events,
copies of which are attached as exhibits 99.1, 99.2, and 99.3, which are
incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c)
99.1 Press release dated January 14, 1998.
99.2 Press release dated January 15, 1998.
99.3 Press release dated January 16, 1998.
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: January 20, 1998. /s/ Edwin D. Johnson
___________________________
Edwin D. Johnson
Senior Vice President-
Chief Financial Officer
(Principal Financial Officer
and Authorized Officer)
NEWS
For Immediate Release From MasTec, Inc.
January 14, 1998 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]
MASTEC, INC. STRENGTHENS MANAGEMENT TEAM
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today that Henry ("Hank") N.
Adorno has been hired as the Company's Executive Vice President and Special
Counsel. Mr. Adorno will report directly to Jorge Mas, President and Chief
Executive of MasTec and will assume responsibility for the administration of
day-to-day activities.
Hank Adorno is a shareholder and founding partner of the law firm of Adorno
& Zeder, P.A., one of the most successful law firms in South Florida. He began
his legal career with the Dade County State Attorney's Office and later became
Chief Assistant State Attorney to Janet Reno. In 1986, Mr. Adorno founded Adorno
& Zeder, rapidly expanding to become a full service law firm with over
seventy-five attorneys in Miami and Ft. Lauderdale.
MasTec also announced the appointment of Juan Antonio Casanova as Chief
Executive of Sintel, the Company's Spanish subsidiary. Mr. Casanova joined the
Company this past November and has been leading the negotiations for a new labor
agreement with Sintel's workforce. Prior to joining the Company, Mr. Casanova
was a senior executive with Entrecanales Tavora, S.A., a major Spanish
construction, industrial and service conglomerate. Mr. Casanova will be
responsible for implementing the Company's restructuring plan for Sintel,
including a reduction in workforce and the further streamlining of operating and
management procedures, and will implement strategic marketing initiatives to
expand Sintel's customer base and capitalize on recent developments in the
telecommunications and cable television industries.
In addition, the Company has announced that Ubiratan Rezende, Senior Vice
President of International Operations, will be relocating to Sao Paulo, Brazil
to spearhead corporate development activities for MasTec in the region. Dr.
Rezende will also continue to oversee the activities of MasTec Inepar, S.A.,
MasTec's 51% owned telecommunications infrastructure construction subsidiary in
Brazil. The Company believes that Brazil will be the fastest growing
telecommunications construction market in the world over the next several years.
Jorge Mas, President and Chief Executive Officer, said: "We at MasTec are very
excited about the quality of management we continue to be able to attract to the
Company. Hank Adorno has been a trusted advisor to the Mas family and
subsequently to MasTec for many years. His strong administrative skills will be
a welcome addition as the Company continues to meet the challenges of
exponential growth. The further strengthening of our Spanish and Brazilian
management teams is well timed to allow the Company to capitalize on the
tremendous opportunities available both in Spain and throughout Latin America.
We welcome Hank and Juan Antonio to the team and would like to extend a special
thanks to Dr. Rezende for helping establish our current Brazilian operation and
now agreeing to spearhead further development in the attractive Brazilian
market."
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.
###
NEWS
For Immediate Release From MasTec, Inc.
January 15, 1998 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]
MASTEC, INC. ELECTS NEW CHAIRMAN AND BOARD MEMBER
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today that Jorge Mas,
President and Chief Executive Officer, has been elected by the Board of
Directors to the position of Chairman of the Board.
MasTec also announced the appointment of Joel-Tomas Citron as a Director.
Mr. Citron is the managing partner of Triscope Capital LLC and has served in a
senior executive capacity at numerous private equity and investment management
companies. Mr. Citron has served on a number of Board of Directors in Europe and
the United States, including Chairman positions with American Information
Systems, Inc., a provider of system solutions and proprietary software for
intranet and internet users, and Zannex Group Ltd., an Israeli brokerage,
investment banking and asset management firm.
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.
###
NEWS
For Immediate Release From MasTec, Inc.
January 16, 1998 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]
MASTEC, INC. ANNOUNCES SENIOR NOTE OFFERING AND
TWO ACQUISITIONS
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today its intent to issue
$150 million in senior subordinated notes due in 2008. Proceeds from the
offering will be used for general corporate purposes, including acquisitions,
working capital and capital expenditures. The notes have not been registered
under the securities act or any state securities laws and may not be offered or
sold except pursuant to an exemption from the registration requirements of the
securities act and applicable state securities laws.
The Company also announced the acquisition of Weeks Construction Company of
Asheboro, North Carolina and M.E. Hunter of Atlanta, Georgia. Both companies
provide outside plant infrastructure services in Virginia, Tennessee, North and
South Carolina, Georgia, Alabama and Florida. These companies generated
approximately $45 million in combined revenue last year.
Jorge Mas, MasTec Chairman and Chief Executive Officer, said: "The impetus
of our strategic plan, which entails growth, coupled with today's attractive
interest rate environment make this the ideal time to obtain long term financing
for the company. Our position as the principal consolidator in a still
fragmented industry, coupled with strong access to capital, provides us with a
unique opportunity for rapid expansion and enhancement of shareholder value."
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.
###
