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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 9, 1996
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Commercial Intertech Corp.
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(Exact Name of Registrant as Specified in Charter)
Ohio 0-588 34-0159880
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(State or Other Jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1775 Logan Avenue, Youngstown, Ohio 44501
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (330) 746-8011
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Item 5. Other Events.
On September 9, 1996, the Registrant issued the press release attached as
Exhibit 99.1. The information contained in this press release is incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 News Release of Registrant dated September 9, 1996
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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.
Commercial Intertech Corp.
Dated: September 9, 1996
By: /s/ Paul J. Powers
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Paul J. Powers
Chairman of the Board, President and
Chief Executive Officer
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Exhibit Index
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Exhibit # Item
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99.1 Press Release
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Exhibit 99.1
Contact: Bruce C. Wheatley Jim Fingeroth/Ruth Pachman/
Commercial Intertech Andrea Bergofin
330-740-8580 Kekst and Company
212-593-2655
FOR IMMEDIATE RELEASE
CUNO FORM 10 DECLARED EFFECTIVE BY SEC;
SHARES OF SPINOFF WILL BE DISTRIBUTED TO COMMERCIAL INTERTECH
ON SEPTEMBER 10, 1996
--CUNO To Begin When Issued Trading Today on Nasdaq National Market--
Youngstown, Ohio and Meriden, Connecticut: September 9, 1996 -- Commercial
Intertech Corp. (NYSE: TEC) and CUNO Incorporated (Nasdaq: CUNO) announced today
that CUNO Incorporated's Registration Statement on Form 10 has cleared
Securities and Exchange Commission (SEC) review and has been declared effective
by the SEC.
Commercial Intertech has set Tuesday, September 10, 1996 for the distribution to
its shareholders of 100 percent of the common stock of CUNO, its fluid
filtration and purification subsidiary. On that date, the new CUNO shares will
be distributed on a basis of one common share of CUNO for each Commercial
Intertech common share outstanding. CUNO's stock will begin trading today on a
"when issued" basis on the Nasdaq National Market, and will begin trading on
Wednesday, September 11, 1996 on a regular basis under the symbol CUNO.
Commercial Intertech shares will continue to trade with the right to receive
CUNO shares until September 11, 1996, at which time Commercial Intertech will
begin trading without CUNO.
"By completing the spin-off of CUNO, Commercial Intertech is fulfilling the
strategic plan established earlier this year to separate CUNO from Commercial
Intertech.
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CUNO has grown steadily, and we are happy to be able to provide shareholders
with the full benefit of what we believe will be the higher stock market
multiple valuation for this excellent company that was previously hidden within
Commercial Intertech," said Paul J. Powers, Chairman and Chief Executive Officer
of Commercial Intertech.
With eight manufacturing facilities in six countries, CUNO offers a full range
of filtration and purification products to remove contaminants from fluids and
gases to three major market segments, including health care, fluid processing
and potable water.
Commercial Intertech is a multi-national manufacturer of Hydraulic Systems and
Building Systems and Metal Products. Employing more than 3,000 men and women
around the world, the Company has 27 manufacturing facilities in eight
countries.
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