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 27, 1996
HARDINGE INC.
--------------------------------------------------
(Exact name of registrant as specified in charter)
New York 0-15760 16-0470200
- ---------------------------- ---------------- ------------------
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
One Hardinge Drive, Elmira, N.Y. 14902
--------------------------------------------------
(Address of principal executive offices (Zip Code)
Registrant's telephone number, including area code: (607) 734-2281
1
<PAGE>
Item 5. Other Events
On August 27, 1996, Hardinge Inc. issued a press release announcing
the authorization by its Board of Directors of the repurchase by the company of
up to 640,000 shares, or approximately 10% of its 6.47 million outstanding
common shares. A copy of the press release is included as Exhibit 99 to this
Current Report on Form 8-K and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
99 Press release issued by registrant on August 27, 1996.
2
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed by the undersigned
hereunto duly authorized.
HARDINGE INC.
(Registrant)
By: /s/ Malcolm L. Gibson
-------------------------------------------
Malcolm L. Gibson
Senior Vice President, Chief Financial
Officer and Assistant Secretary
(Principal Financial Officer)
Dated: September 6, 1996
3
<PAGE>
Index to Exhibits
Exhibit No.
99 Press release dated August 27, 1996
Exhibit 99
PRESS RELEASE
<TABLE>
<CAPTION>
AT THE COMPANY: AT THE FIANCIAL RELATIONS BOARD:
- --------------- --------------------------------
<S> <C>
Malcolm L. Gibson For General Info: Jerry Meyer (212) 661-8030
Sr. VP & Chief Financial Officer For Analyst Info: Bob Lyons (312) 266-7800
(607) 734-2281 For Media Info: Judith Sylk-Siegel (212) 661-8030
FOR IMMEDIATE RELEASE
- ---------------------
August 27, 1996
</TABLE>
HARDINGE SHARE-REPURCHASE PLAN APPROVED BY BOARD
------------------------------------------------
ELMIRIA, N.Y. -- August 27, 1996 -- Hardinge, Inc. (Nasdaq: HDNG), a leading
producer of machine tools, announced today that its Board of Directors has
authorized the repurchase of up to 640,000 shares of common stock --
approximately 10% of the total number of shares outstanding.
Robert E. Agan, Chairman and Chief Executive Officer, said stock purchases will
be made principally through open market transactions and will occur from time
to time as market conditions warrant. The company currently has 6.47 million
shares outstanding.
"We believe that our recent stock price represents an excellent investment
opportunity, and that the repurchase program is a prudent use of our available
cash and debt capacity," Mr. Agan said. "This program is an expression of our
confidence in the company's short-term and long-term earnings outlook and our
growth potential, and we believe it will enhance returns to our shareholders."
Hardinge Inc., founded more than 100 years ago, is an international leader in
the machine tool industry. The company designs and manufactures metal-cutting
lathes, machining centers and grinding machines as well as related tooling and
accessories for customers in a broad range of industries around the world. The
company's common stock trades on Nasdaq under the symbol HDNG.
To receive additional information on Hardinge, via fax, at no charge, dial
1-800-PRO-INFO and enter code HDNG.
