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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
September 18, 1996
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Date of Report (Date of earliest event reported)
Chicago Rivet & Machine Co.
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(Exact name of registrant as specified in its charter)
Illinois 0-1227 36-0904920
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
901 Frontenac Road, Naperville, IL 60563
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(Address of principal executive offices) (Zip Code)
(630) 357-8500
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(Registrant's telephone number)
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ITEM 5. OTHER EVENTS.
On September 18, 1996, Chicago Rivet & Machine Co. (the "Registrant")
announced that its wholly owned subsidiary had executed a purchase and sale
agreement (the "Agreement") related to its previously announced intention to
acquire substantially all of the assets and assume certain specified
liabilities of H & L Tool Company, Inc. of Madison Heights, Michigan. The
Agreement and the transactions contemplated thereby are described in the
Registrant's press release, issued September 18, 1996, which is attached hereto
as Exhibit 99.1 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
Exhibit No. Description
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99.1 Press release of the Registrant, issued September 18, 1996.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CHICAGO RIVET & MACHINE CO.
/s/ JOHN C. OSTERMAN
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John C. Osterman
Dated: September 24, 1996 President, Chief Operating Officer and
Treasurer
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EXHIBIT INDEX
EXHIBIT
NO. DESCRIPTION
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99.1 Press release of the Registrant, issued September 18, 1996 . . .
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EXHIBIT 99.1
Naperville, IL 9/18/96:
Chicago Rivet & Machine Co. (AMEX, symbol CVR) announced today that it has
executed a purchase and sale agreement related to its previously announced
intention to acquire substantially all of the assets and assume certain
liabilities of H & L Tool Company, Inc. of Madison Heights, Michigan. The
agreement contemplates a closing date of October 31, 1996 and is subject to
conditions typical in transactions of this type. While the exact purchase
price will be adjusted by any changes in the values of certain assets acquired
as of the closing date, the purchase price is expected to be approximately
$19.1 million, in a combination of cash and the assumption of certain
liabilities. The transaction is expected to be financed by a combination of
available cash, a $4.8 million credit against the purchase price in
consideration of H & L's retention of all cash and cash equivalents, the
assumption of certain liabilities and outside borrowing of between $8 and $9
million. The assets to be purchased include all of H & L Tool's production
equipment and facilities located in Madison Heights, Michigan. Upon completion
of the transaction, Chicago Rivet intends to continue operations at that
location under the H & L Tool name.
Chicago Rivet & Machine Co. is a manufacturer of rivets, cold-formed fasteners
and automated assembly equipment primarily for the automotive and appliance
industries. H & L Tool Company, Inc., established in 1946, is a privately held
manufacturer of specialty cold-formed fasteners and screw machine products
primarily serving the automotive industry.
For further information, contact:
John C. Osterman
President, Chicago Rivet & Machine Co.
708-357-8500
