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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 of earliest event reported) June 5, 1998
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ENVIRODYNE INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-5485 95-2677354
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification
No.)
701 Harger Road, Suite 190, Oak Brook, Illinois 60523
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (630) 571-8800
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Page 1 of 5 Pages
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Item 5. - Other Events
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On June 8, 1998, Envirodyne Industries, Inc. ("Envirodyne")
announced that the Company had executed a definitive agreement to
sell Clear Shield National, Inc. to Solo Cup Company. A copy of the
press release relating to the sale is attached hereto as
Exhibit 99.
Item 7. - Financial Statements and Exhibits
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EX-99 Press release dated June 8, 1998.
<PAGE>
SIGNATURES
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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.
ENVIRODYNE INDUSTRIES, INC.
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Registrant
By: /S/ Gordon S. Donovan
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Gordon S. Donovan
Vice President, Chief
Financial Officer and
Treasurer
June 15, 1998
<PAGE>
Exhibit No. Description of Exhibits Page
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EX-99 Press release dated June 8, 1998. 5
FOR IMMEDIATE RELEASE For Additional Information contact:
Nasdaq SmallCap: EDYN S. M. Schuster or G. S. Donovan
(630) 575-2400
ENVIRODYNE INDUSTRIES, INC. ANNOUNCES
SALE OF CLEAR SHIELD NATIONAL, INC.
Oak Brook, Illinois, June 8, 1998 - Envirodyne Industries, Inc.
(Nasdaq SmallCap:EDYN) has signed a definitive agreement to sell
Clear Shield National, Inc. to Solo Cup Company for $140 million
cash. Clear Shield National, a wholly-owned subsidiary, is
headquartered in Wheeling, Illinois and produces for national
distribution disposable plastic cutlery, drinking straws and custom
dining kits for the institutional, food service, quick service
restaurant, convenience store and retail markets. In addition to
the Chicago area plants, Clear Shield National has facilities in
Leominster, Massachusetts; Shreveport, Louisiana; and a newly
constructed facility in Twin Falls, Idaho. Subject only to
customary conditions including the receipt of governmental and
third party consents, the sale is expected to be consummated in
late July 1998.
"Clear Shield National is a fine company in its own right and we
are very pleased to be adding it to the Solo Cup family," said
Ronald L. Whaley, Vice President of Solo Cup Company. "Their
product lines complement ours very well and we believe this will
mean enhanced opportunities for employees and customers of both
businesses."
In late 1997, Envirodyne retained Donaldson, Lufkin and Jenrette
Securities Corporation to explore Envirodyne's strategic
alternatives. The sale of Clear Shield National together with the
previously announced sale of Sandusky Plastics will enable
Envirodyne to significantly reduce its senior indebtedness.
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