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) December 22, 1997
-----------------
EG&G, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Massachusetts 1-5075 04-2052042
------------- ------ ----------
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
45 William Street, Wellesley, Massachusetts 02181
------------------------------------------- -----
(Address of principal executive offices) (Zip Code)
(781) 237-5100
--------------
(Registrant's telephone number, including area code)
Not applicable
--------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
On December 22, 1997, the Company announced that it has entered into an
agreement to sell the business and assets of its Sealol Industrial Seals
Division for $100 million to TI Group, plc., London, England. EG&G will
simultaneously purchase for $45 million the Belfab Division of John Crane, Inc.,
the Daytona Beach unit of the TI Group that produces specialty bellows devices
for the semiconductor, aerospace and biomedical industries.
The transactions are subject to regulatory and other approvals including those
of the respective boards of directors. The transactions are expected to close in
early 1998.
EG&G Sealol's Industrial Seals Division, headquartered in Cranston, Rhode
Island, manufactures mechanical seals used by the chemical, petrochemical and
other industries. In 1996, the company had sales of $88.8 million.
In 1996, Belfab's sales were $27 million. With its main plant in Daytona Beach,
Belfab is best known for products that meet high reliability demands in extreme
environments. In 1993, the main facility was named by Industry Week as one of
America's best plants.
EG&G is a global technology company that provides complete systems, as well as
components, to automotive, medical, aerospace, photography and other industries,
and delivers skilled support services to government and industrial customers.
Based in Wellesley, Massachusetts, EG&G has annual sales of more than $1.4
billion and more than 14,000 employees worldwide.
TI Group, the specialized engineer, is quoted on the London Stock Exchange.
Headquartered in the UK, TI employs 27,000 people at over 350 manufacturing and
customer facilities located in 45 countries, and in 1996 had sales of 1.8
billion pound sterling.
The John Crane Group is a world leader in engineered sealing systems. It
provides sealing systems that reduce and prevent leakage of environmentally
damaging gases and liquids in industries such as pulp and paper, chemical,
petrochemical, food and beverage. In the marine sector it serves both the
defense and commercial markets, provides stern shaft and marine hull sealing
systems that prevent sea-water from entering vessels and control oil pollution
at sea.
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.
EG&G, Inc.
By /s/ John F. Alexander, II
----------------------------
Senior Vice President and
Chief Financial Officer
(Principal Financial Officer)
Date: December 23, 1997
-----------------
