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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
Date of Report (Date earliest event reported) December 14, 1998
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Eastco Industrial Safety Corp.
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(Exact name of registrant as specified in charter)
New York0-802711-1874010
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(State or other jurisdiction(Commission(IRS Employer
of incorporation)File Number)Identification
Number)
130 West 10th Street, Huntington Station, New York
11746
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (516) 428-1802
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(Former name or former address, if changed since last report.)
Item 5.Other Events.
A. On December 15, 1998, the Registrant issued a press release
(the "Press Release") annexed as an exhibit hereto. The Press
Release states that the Registrant entered into an Asset Purchase
Agreement with Arbill Industries, Inc.("Arbill"), under which Arbill
is to purchase the Distribution Division of the Registrant.
B. On December 17, 1998, the Registrant filed with the
Secretary of State of the State of New York a Certificate of
Amendment to its Certificate of Incorporation to change the name of
the Registrant from Eastco Industrial Safety Corp. to Worksafe
Industries Inc. The amendment to the Certificate of Incorporation
was authorized by an affirmative vote of the holders of at least a
majority of all outstanding shares entitled to vote on an amendment
to the Certificate of Incorporation at a meeting of shareholders.
C. As a result of the Registrant's change of name, it has also
changed the stock symbols under which it trades on NASDAQ and the
Boston Stock Exchange. The new symbol for the common stock of the
Registrant on NASDAQ is WRKS, and for its Class B Warrant is WRKSW.
The new symbol for the common stock of the Registrant on the Boston
Stock Exchange is WSF, and for its class B warrant is WSFZ. The
effective date of the new symbols shall be December 21, 1998.
Item 7.Financial Statements and Exhibits.
Exhibit 3.01.03 Certificate of Amendment to the Certificate
of Incorporation of the Registrant
Exhibit 21.1 Press Release issued December 15, 1998.
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.
Dated:December 17, 1998
EASTCO INDUSTRIAL SAFETY CORP.
By: /s/ Arthur Wasserspring
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ARTHUR WASSERSPRING
Vice-President of
Finance, Treasurer
and Chief Financial
Officer
CERTIFICATE OF AMENDMENT
OF
CERTIFICATE OF INCORPORATION
OF
EASTCO INDUSTRIAL SAFETY CORP.
Under Section 805 of the Business Corporation Law
of the State of New York
Pursuant to the provisions of Section 805 of the Business
Corporation Law, the undersigned, being the president and
secretary of the corporation hereby certify:
FIRST:The name of the corporation is:
EASTCO INDUSTRIAL SAFETY CORP.
SECOND:The Certificate of Incorporation was filed by the
Secretary of State of New York on the 15th day of May, 1958 under
the name of Glofane Co., Inc.
THIRD:The amendment to the Certificate of Incorporation
effected by this Certificate is as follows:
Paragraph FIRST of the Certificate of Incorporation,
relating to the name of the corporation, is hereby amended to
read as follows:
"FIRST: The name of the corporation is: WORKSAFE
INDUSTRIES INC."
FOURTH:That the amendment to the Certificate of
Incorporation was authorized by an affirmative vote of the
holders of at least a majority of all outstanding shares entitled
to vote on an amendment to the Certificate of Incorporation at a
meeting of shareholders. Said authorization being subsequent to
the affirmative vote of the Board of Directors.
IN WITNESS WHEREOF, we hereunto sign our names and affirm
that the statements made herein are true under the penalties of
perjury, this 16th day of December, 1998.
/s/Lawrence Densen
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LAWRENCE DENSEN
/s/Anthony P. Towell
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ANTHONY P. TOWELL
For Immediate Distribution
Contact: Arthur J. Wasserspring, V.P.F.
Telephone (516) 427-1802
EASTCO INDUSTRIAL SAFETY CORP.
ANNOUNCES SALE OF ITS DISTRIBUTION BUSINESS
December 15, 1998 - EASTCO INDUSTRIAL SAFETY CORP. (NASDAQ
symbols ESTO, ESTOW), a manufacturer and distributor of industrial
protective clothing and other safety products, announced today that
it has signed a definitive agreement to sell certain assets of its
distribution business and the Eastco name to Arbill Industries,
Inc. of Philadelphia, Pennsylvania.
The Company will change its name to Worksafe Industries Inc.
subject to shareholders' approval at the Annual Meeting on December
16, 1998.
Although financial details are not released at this time, it
is expected the deal will have a positive impact on the financial
position and liquidity of the Company.
Larry Densen, President of Eastco, stated that "this sale will
now allow management to focus, broaden and grow its core
manufacturing business."
Eastco Industrial Safety Corp. is a prominent provider of
protective clothing and safety products to the industrial
marketplace. The Company has been serving industrial users for 40
years and continues to expand into new and emerging markets. The
Company manufactures disposable and reusable industrial protective
clothing at facilities located in Alabama, Mexico and Puerto Rico,
and protective gloves in Minnesota.
