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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest
event reported): April 22, 1998
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HARRIS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3863 34-0276860
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(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of incorporation) Identification No.)
1025 West NASA Blvd., Melbourne, FL 32919
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (407) 727-9100
No Change
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(Former name or former address, if changed since last report.)
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Items 1-4. Not Applicable.
Item 5. Other Events.
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On April 22, 1998, Harris Corporation announced that its
Lanier Worldwide, Inc. subsidiary has entered into a definitive agreement to
acquire the assets of the Copying Systems Business Unit of the Agfa-Gevaert
Group, which is a member of the Bayer Group, Leverkusen, Germany. The
transaction is subject to customary conditions, including the receipt of
European antitrust and regulatory approvals. Harris expects the transaction to
be completed in July 1998. The Copying Systems Business Unit of Agfa had 1997
annual sales of more than $250 million. Lanier will pay approximately 295
million Deutsche marks (approximately $160 million) in cash at closing for the
assets and will assume certain liabilities. The purchase price is subject to
adjustment following the closing. Subject to applicable legal requirements, upon
closing Lanier intends to offer employment to the Business Unit's approximately
1,000 employees. The acquisition will double Lanier's presence and market share
in the European office equipment market. A copy of the press release is filed
herewith as Exhibit 99 and is incorporated herein by reference.
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
The following document is filed as an Exhibit to this Report:
99. Press Release, dated April 22, 1998.
Items 8-9. Not Applicable.
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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.
HARRIS CORPORATION
By: /s/ Bryan R. Roub
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Name: Bryan R. Roub
Title: Senior Vice President & Chief Financial Officer
Date: April 22, 1998
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EXHIBIT INDEX
Exhibit No.
Under Reg.
S-K, Item 601 Description
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99 Press Release, dated April 22, 1998.
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Exhibit 99
HARRIS CORPORATION TO ACQUIRE AGFA'S COPYING SYSTEMS
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BUSINESS;
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DOUBLING PRESENCE IN EUROPEAN OFFICE EQUIPMENT MARKET
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MELBOURNE, Fl./MORTSEL, Belgium, April 22, 1998 -- Harris Corporation's
Lanier Worldwide subsidiary has signed an agreement to acquire the Copying
Systems Business Unit of the Agfa-Gevaert Group - located in Mortsel, Belgium --
which is a member of the Bayer Group, Leverkusen, Germany. The acquisition will
double Lanier's presence and market share in the multi-billion dollar European
office equipment market. The transaction is scheduled to close in July 1998. The
agreement is subject to the approval of European antitrust and regulatory
authorities.
Agfa's Copying Systems Business Unit will become part of Lanier
Worldwide. Lanier provides a full line of copiers, fax, dictation and related
office products and services. Lanier operates a network of 1,600 sales and
services offices in more than 100 countries and has annual sales of more than
$1.2 billion.
Agfa's Copying Systems Business Unit, with 1997 annual sales of more
than $250 million, is a marketing, distribution and services business, mostly in
Europe, with additional activities in Africa and the Middle East. The Business
Unit's approximately 1,000 employees - including about 150 each in Belgium and
Germany - will be taken over by Lanier. "Copying systems do not constitute a
part of the core business of the Agfa Group. Following the integration into
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Lanier, however, it will be part of the core business there," said Werner
Seufert, a member of the Board of Management of Agfa.
"The European office equipment market represents a strong growth
opportunity for Lanier. Acquiring Agfa's Copying Systems Business Unit -- with
the high level of expertise and professionalism of its employees, its broad
customer base, and strong reputation -- will significantly increase our presence
in that growing market," said Wesley E. Cantrell, president and CEO of Lanier.
"Combining the two companies' extensive sales and service networks with Lanier's
global account management program will enable us to provide a wider range of
products and services not only to a broader base of customers in Europe, but to
their international affiliates as well."
Agfa-Gevaert Group
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The Agfa-Gevaert Group is Europe's leading imaging company. Agfa has worldwide
activities, and the Group had worldwide sales of about $4.5 billion in 1997.
Agfa develops, produces and markets analog and digital imaging systems,
primarily for the graphics industry, photography, and medical and industrial
radiography.
Harris Corporation
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Harris Corporation, with worldwide sales of $3.8 billion, is an
international communications and electronics company that provides a wide range
of products and services, such as wireless and personal communications, digital
television (including HDTV), health care information, multi-media
communications, automotive electronics, transportation, business information,
defense communications and information, and Lanier office products.
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Editors Note: For further information, contact Jim Burke, Harris Corporation, at
407-727-9126/[email protected] or Dr. Hartmut Hilden, Agfa-Gevaert AG, at
49-214-30-4425/[email protected].
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