SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to
Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): January 27, 2000
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THE CHERRY CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
0-8955 36-2977756
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(Commission File Number) (I.R.S. Employer Identification Number)
3600 Sunset Avenue, Waukegan, Illinois 60087
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(Address of Principal Executive Offices) (Zip Code)
(847) 662-9200
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS.
On January, 27, 2000 the Company filed a press release
announcing plans to explore various strategic alternatives with respect to its
wholly owned subsidiary, Cherry Semiconductor Corporation.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) EXHIBITS
Exhibit
Number Description
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99.1 January 27, 2000 Press Release
announcing the Board of Directors
decision to explore various
strategic alternatives with respect
to Cherry Semiconductor Corporation.
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SIGNATURES
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.
THE CHERRY CORPORATION
By: /s/ Dan A. King
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Dan A. King
Vice President of Finance and
Administration, Treasurer
and Secretary
Dated: January 31, 2000
EXHIBIT 99.1
CHERRY CORPORATION TO EXPLORE STRATEGIC ALTERNATIVES FOR ITS SEMICONDUCTOR
SUBSIDIARY WAUKEGAN, Ill., Jan. 27 /PRNewswire/ -- The Cherry Corporation
(Nasdaq: CHER - news) today announced that its Board of Directors has decided to
explore various strategic alternatives to help the Company maximize the value of
Cherry Semiconductor Corporation, a wholly owned subsidiary ("CSC").
The Company has retained Banc of America Securities LLC as financial advisor to
assist the Company in analyzing and pursuing strategic alternatives that would
maximize shareholder value with respect to CSC. The Cherry Corporation
manufactures proprietary and custom electrical switches, sensors, electronic
keyboards and controls, and semiconductors for the worldwide automotive,
computer, and consumer and commercial markets. The company has eight wholly
owned subsidiaries in the United States, Germany, England, France, Australia,
Czech Republic, Mexico and Hong Kong. Cherry also has 50-50 joint ventures in
Japan, Hirose Cherry Precision Company Limited, and in India, TVS Cherry
Limited. Additional information is available on the company's website at
http://www.cherrycorp.com.
