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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
Tender Offer Statement
Pursuant to Section 14(d)(1) of the Securities Exchange Act of 1934
(Amendment No.2)
ENVIRONMENT ONE CORPORATION
(Name of Subject Company)
EOC ACQUISITION CORPORATION
PRECISION CASTPARTS CORP.
(Bidders)
Common Stock, $.10 par value
(Title of Class of Securities)
294 056 106
(CUSIP Number of Common Stock)
William D. Larsson
Vice President and Chief Financial Officer
Precision Castparts Corp.
4650 SW Macadam Avenue, Suite 440
Portland, Oregon 97201
(503) 417-4800
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidder)
Copy to:
Ruth A. Beyer
Stoel Rives LLP
900 SW Fifth Avenue, Suite 2300
Portland, Oregon 97204-1268
(503) 294-9332
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14D-1
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1. Name of reporting person
EOC Acquisition Corporation
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2. Check the appropriate box if a member of a group (a) ___
(b) ___
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3. SEC Use Only
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4. Sources of Funds
AF
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5. Check box if disclosure of legal proceedings is required pursuant
to Items 2(e) OR 2(f) ___
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6. Citizenship or place of organization
New York
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7. Aggregate amount beneficially owned by each reporting person
None (0)
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8. Check box if the aggregate amount in row (7) excludes certain shares
___
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9. Percent of class represented by amount in row (7)
None (0)
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10. Type of reporting person
CO
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2
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14D-1
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1. Name of reporting person
Precision Castparts Corp.
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2. Check the appropriate box if a member of a group (a) ___
(b) ___
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3. SEC Use Only
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4. Sources of Funds
BK, WC
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5. Check box if disclosure of legal proceedings is required pursuant
to Items 2(e) OR 2(f) ___
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6. Citizenship or place of organization
Oregon
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7. Aggregate amount beneficially owned by each reporting person
None (0)
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8. Check box if the aggregate amount in row (7) excludes certain shares
___
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9. Percent of class represented by amount in row (7)
None (0)
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10. Type of reporting person
CO
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3
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EOC Acquisition Corporation and Precision Castparts Corp. hereby amend and
supplement their Tender Offer Statement on Schedule 14D-1 (the "Statement"),
originally filed on March 3, 1998, as amended by Amendment No. 1, with respect
to their offer to purchase all outstanding shares of Common Stock, par value
$.10 per share, of Environment One Corporation, a New York corporation, as set
forth in this Amendment No. 2. Capitalized terms not defined herein have the
meanings assigned thereto in the Statement. This Amendment No. 2 is the final
amendment to the Statement.
Item 6. Interest in Securities of the Subject Company.
(a) On March 30, 1998, EOC Acquisition Corporation accepted for payment a
total of 3,694,436 shares of Environment One Corporation Common Stock pursuant
to the Offer. On March 31, 1998, Precision Castparts Corp. issued a press
release, a copy of which is attached hereto as Exhibit (a)(9) and is
incorporated herein by reference. In addition, EOC Acquisition Corporation may
accept for purchase an additional 14,500 shares of Environment One Corporation
Common Stock that have been tendered pursuant to the Offer in accordance with
the Notice of Guaranteed Delivery procedures set forth in the Offer.
Item 10. Additional Information.
(f) The Offer terminated at 12:00 midnight, Eastern Daylight time, on
Monday, March 30, 1998. On March 31, Precision Castparts Corp. issued a press
release, a copy of which is attached hereto as Exhibit (a)(9) and is
incorporated herein by reference.
Item 11. Material to be Filed as Exhibits.
99(a)(9)Press Release, dated March 31, 1998.
4
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Signature
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this Statement is true, complete and correct.
Date: March 31, 1998
EOC ACQUISITION CORPORATION
By /s/ WILLIAM D. LARSSON
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Name: William D. Larsson
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Title: Vice President
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PRECISION CASTPARTS CORP.
By /s/ WILLIAM D. LARSSON
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Name: William D. Larsson
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Title: Vice President
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5
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Exhibit Index
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Exhibit No. Description
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99(a)(9) Press Release, dated March 31, 1998.
Exhibit 99(a)(9)
Press Release
PRECISION CASTPARTS CORP. COMPLETES TENDER OFFER; PROCEEDS
WITH ACQUISITION OF ENVIRONMENT ONE CORPORATION
PORTLAND, Oregon - March 31, 1998 -- Precision Castparts Corp. (NYSE: PCP), has
completed its cash tender offer for Environment One Corporation (NASDAQ: EONE),
a manufacturer of highly engineered equipment for low pressure sewer systems
based in Niskayuna, New York.
Precision Castparts Corp. ("PCC") announced the proposed acquisition of
Environment One Corporation ("E/ONE") on February 25, 1998, and commenced a cash
tender offer on March 3 to purchase all outstanding shares of E/ONE common stock
for $15.25 per share. The acquisition of E/ONE was subject to the tender of
two-thirds of E/ONE's outstanding shares on a fully diluted basis. At the
expiration of the tender offer at midnight on March 30, 1998, 78 percent of
E/ONE's outstanding shares on a fully diluted basis had been tendered (86
percent of the total outstanding shares), and all tendered shares have been
accepted for payment. PCC expects to complete the acquisition of the remaining
outstanding shares of common stock of E/ONE pursuant to a merger between E/ONE
and a wholly owned subsidiary of PCC within 60 days.
Upon completion of the acquisition, E/ONE will report into PCC Flow
Technologies, Inc., a leading manufacturer of high-quality fluid-handling pumps,
valves, and measurement instruments, headquartered in Houston, Texas.
Precision Castparts Corp. is a worldwide manufacturer of complex metal
components and products. PCC is the market leader in manufacturing both large,
complex structural investment castings and airfoil castings used in jet aircraft
engines. In addition, PCC has expanded into the industrial gas turbine, fluid
management, industrial metalworking tools and machines, pulp and paper, powder
metal, tungsten carbide, and other metal products markets.
