THIS CONFORMING PAPER FORMAT DOCUMENT IS BEING
SUBMITTED PURSUANT TO RULE 901(d) OF REGULATION S-T
UNITED STATES
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): September 5, 2000
COLLINS INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Missouri
(State or other jurisdiction of incorporation)
0-12619 43-0985160
Commission File Number (IRS Employer Identification No.)
15 Compound Drive, Hutchinson, Kansas 67502
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (316) 663-5551
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
Exhibit 1 - (Press Release of September 5, 2000) is hereby incorporated
by reference.
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.
COLLINS INDUSTRIES, INC.
By: /s/ Larry W. Sayre
Larry W. Sayre
Vice President - Finance and
Chief Financial Officer
Date: September 5, 2000
EXHIBIT INDEX
Exhibit Description Page
1 Press release of September 5, 2000 1
Exhibit 1
NEWS RELEASE
For Immediate Release
September 5, 2000
Collins Industries Expands into Road Construction
Equipment Market with Acquisition of Waldon
Hutchinson, Kansas, September 5, 2000 . . . . Collins Industries, Inc.
(NASDAQ: COLL) announced today a definitive agreement to purchase
certain assets of Waldon, Inc., a leading manufacturer of industrial and
construction equipment based in Fairview, Oklahoma, with $16.5 million
in sales last year. The Company expects the cash acquisition to be
accretive to earnings and anticipates that it will be finalized by
the end of this month. The price of the acquisition was not disclosed.
Waldon is an industry leader in the road construction and industrial
rental sweeper markets with the Waldon and Lay-Mor product lines.
The Lay-Mor three-wheeled sweeper is the market leader in the industrial
rental sweeper market segment with the Waldon four-wheel sweeper being
second largest in the road construction market segment. Waldon also
manufactures a full line of articulated four-wheel drive loaders,
rough terrain lift trucks and attachments, and other construction
equipment including a compact loader backhoe and dozer. These products
are principally sold in both commercial and rental markets through
direct sales and distributors throughout the United States. The Company
believes export sales of these products through existing international
distributor relationships represents a promising opportunity. All of
these Waldon and Lay-Mor product lines will be acquired by Collins
Industries.
"The acquisition of these Waldon product lines provides our specialty
vehicle company an entry into the road construction market, with
products in market niches for contractors and equipment rental dealers
that historically have not been large enough to attract large capital
intensive competitors. It also provides us the ability to take
advantage of ongoing market growth from national highway infrastructure
projects through TEA-21, the Transportation Equity Act for the
21st Century which will inject billions of tax dollars into road
construction in the years ahead," said Donald Lynn Collins, President
and CEO of Collins Industries.
"The Waldon acquisition enhances our commitment to be the nation's
leading manufacturer of specialty vehicles, underscoring our goal of
building long-term shareholder value. This acquisition will provide
synergies in purchasing, distribution and management while providing
Collins Industries new growth opportunities in the road construction
and industrial equipment rental markets. Waldon has been in business
for over 43 years, building a reputation for quality, durability and
innovation in the markets they serve. We look forward to making them
a part of the Collins Industries family," he added.
Collins Industries is the world's largest manufacturer of ambulances
(including medical attack vehicles, rescue vehicles and fire emergency
vehicles), North America's largest producer of Type "A" small school
buses, and the nation's second largest manufacturer of terminal trucks.
Since 1971, Collins Industries has grown to over 1,000 employees in
five plants comprising over one million combined square feet of
manufacturing space. The Company sells its products throughout the
Unites States and abroad.
This press release contains historical and forward-looking information.
The forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The Company believes the assumptions underlying these forward-looking
statements due to certain risks and uncertainties, including, but not
limited to, changes in product demand, the availability of chassis,
adequate direct labor pools, changes in competition, interest rate
fluctuations, development of new products, various inventory risks due
to changes in market conditions, changes in tax and other governmental
rules and regulations applicable to the Company, substantial dependence
on their parties for product quality, reliability and timely fulfillment
of order and other risks as indicated in the Company's filings with
the Securities and Exchange Commission. The Company undertakes no
obligation to publicly release any revisions to any forward-looking
statements contained herein to reflect events or circumstances
occurring after the date released or to reflect the occurrence of
unanticipated events.
Contact: Larry W. Sayre
Vice President-Finance & CFO
(316) 663-5551
Carl Thompson, CEO
Kevin Campbell, Account Executive
Carl Thompson Associates
(800) 959-9677
