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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
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CURRENT REPORT
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Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 31, 1997
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EKCO GROUP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-7484 11-2167167
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) No.)
98 Spit Brook Road, Nashua, New Hampshire 03062
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (603) 888-1212
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Item 5. Other Events.
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On March 31, 1997, the registrant issued a press release in which it
announced that it had completed the sale of its plastic products division to
Dallas, Texas-based Austin Products, Inc. As part of this transaction, Austin
Products will license the "EKCO" name for use in the sale of plastic products
that were previously sold by the registrant and will lease the registrant's
Worcester, Massachusetts facility previously owned and occupied by such
division. For further information, reference is made to the press release,
attached hereto as an exhibit.
Item 7. Financial Statements and Exhibits.
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(c) Exhibit
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99 Press Release dated March 31, 1997.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EKCO GROUP, INC.
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(Registrant)
Date: April 4, 1997 /S/LINDA R. MILLMAN
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Linda R. Millman
Associate General Counsel
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EXHIBIT INDEX
TO THE EXHIBIT FILED HEREWITH
Exhibit
Number Exhibit Description
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99 Press Release dated March 31, 1997.
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[EKCO GROUP, INC. LETTERHEAD] EXHIBIT 99
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FOR IMMEDIATE RELEASE
CONTACT:
Don DeNovellis or Kathryn H. Quinn
Chief Financial Officer Account Specialist
Ekco Group, Inc. Sharon Merrill Associates, Inc.
(603) 888-1212 (617) 542-5300
EKCO GROUP COMPLETES SALE OF PLASTICS PRODUCTS DIVISION
NASHUA, N.H., March 31, 1997 -- Ekco Group, Inc. (NYSE: EKO) today
announced that it has completed the sale of its plastics products division to
Dallas, Texas-based Austin Products, Inc. As part of this transaction, Austin
Products will license the "EKCO" name for use in the sale of plastics products
that were previously sold by Ekco Group, and will lease the company's Worcester,
Massachusetts facility.
"The divestiture of the plastics business is an important component in Ekco
Group's strategy to improve profitability by focusing on our core housewares
business," stated Malcolm L. Sherman, Ekco Group's chairman and chief executive
officer. "This transaction will allow us to devote the managerial and financial
resources necessary to build on our strong position within the housewares
industry, and provides us the means to pursue strategic acquisitions."
Ekco Group, Inc. is a leading manufacturer and marketer of branded
housewares products that are broadly marketed primarily through major mass
merchant, supermarket, home/office and hardware stores. The Company's products
include household items such as bakeware, kitchenware, brooms, brushes and mops,
as well as nonpoisonous and low-toxic household pest control products.
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements made pursuant to
the safe harbor provisions of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that
these forward-looking statements are inherently uncertain. Actual performance
and results may differ materially from those projected in the forward-looking
statements due to important risk factors including, without limitation, the
timely introduction of new products, the impact of competitive products and
pricing, and certain assumptions related to consumer purchasing patterns.
Additional information concerning risk factors that could cause actual results
to differ materially from those projected in the forward-looking statements is
contained in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements represent the Company's judgment as of the date
of this release.
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