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): August 30, 1996
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Exact Name of Registrant as
Specified in Its Charter: DDL ELECTRONICS, INC.
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DELAWARE 1-8101 33-0213512
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State or Other Jurisdiction of Commission I.R.S. Employer
Incorporation or Organization File Number Identification No.
Address of Principal Executive Offices: 2151 Anchor Court
Newbury Park, CA 91320
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Registrant's Telephone Number, Including
Area Code: (805) 376-9415
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Former Name or Former Address,
if Changed Since Last Report: Not applicable
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Item 5. Other Events.
On August 30, 1996, DDL Electronics, Inc. issued a press release disclosing
that it had terminated merger discussions with another company.
Item 7. Financial Statements and Exhibits.
Exhibit Description
_______ ____________
99.1 Press release dated August 30, 1996
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 thereunto duly authorized.
DDL ELECTRONICS, INC.
August 30, 1996 /s/ Richard K. Vitelle
_________________________________ _____________________________
Date Richard K. Vitelle
Vice President -Finance
(Principal Financial Officer)
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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From: DDL ELECTRONICS, INC. Contact: Rick Vitelle
2151 Anchor Court Chief Financial Officer
Newbury Park, California 91320 (805) 376-9415
DDL ELECTRONICS ISSUES STATEMENT ON MERGER TALKS
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NEWBURY PARK, CA, August 30, 1996 -- DDL Electronics, Inc. (NYSE-DDL)
announced today that it has terminated merger discussions with Circuit Systems,
Inc. (Nasdaq-CSYI), a manufacturer of single-sided, double-sided and multilayer
printed circuit boards for the electronics industry. Gregory L. Horton,
President and Chief Executive Officer of DDL, said: "We have been in
discussions with Circuit Systems regarding a possible stock-for-stock merger of
our companies. However, DDL was unable to arrive at acceptable terms for the
proposed transaction, and consequently DDL's Board of Directors concluded
yesterday that a merger with Circuit Systems would not be in the best interest
of DDL's stockholders at this time."
Commenting on the future, Horton stated: "We are proceeding with plans
to aggressively expand DDL's presence in the U.S. electronics manufacturing
services industry, which is growing at a very healthy rate. We intend to focus
our acquisition strategy on companies engaged in electronic contract
manufacturing, which represents our core competency."
DDL Electronics, Inc., through its operating units in California and
the United Kingdom, provides customized, integrated electronic manufacturing
services to U.S. and European original equipment manufacturers (OEMs) in the
computer, telecommunications, instrumentation, medical, industrial and
aerospace industries.
The foregoing statements that refer to the Company's anticipated future
plans are forward looking and reflect the Company's current expectations. Such
statements involve various risks and uncertainties that could cause actual
results to differ materially from those forecast in the statements.
