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): JANUARY 28, 1998
DYNAMIC MATERIALS CORPORATION
(Exact name of registrant as specified in its charter)
COLORADO 0-8328 84-00608431
(State or other jurisdiction (Commission (IRS Employee
of incorporation) File Number) Identification No.)
551 ASPEN RIDGE DRIVE, LAFAYETTE, CO 80026
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 665-5700
(Former name or former address, if changed since last report)
EXHIBIT INDEX APPEARS ON PAGE 4
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press release dated January 28, 1998
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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.
DYNAMIC MATERIALS CORPORATION
(Registrant)
Date February 5, 1998 By: /S/ RICHARD A. SANTA
-----------------------------------------
Name: Richard A. Santa
Title: Chief Financial Officer and Secretary
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EXHIBIT INDEX
Exhibit
No. Description
99.1 Press release dated January 28, 1998
EXHIBIT 99.1
[LETTERHEAD OF DYNAMIC MATERIALS CORPORATION]
DYNAMIC MATERIALS CORPORATION
TO ACQUIRE SPIN FORGE, LLC - COMPLETES
PURCHASE OF AMK WELDING
DMC FURTHER ENTERS INTO COMMERCIAL AEROSPACE/DEFENSE AND
COMMERCIAL AIRCRAFT PARTS MANUFACTURING THROUGH ACQUISITIONS
FOR IMMEDIATE RELEASE
Wednesday, January 28, 1998
Contact: Richard A. Santa Mark W. Jarman
Chief Financial Officer Investor Relations
Dynamic Materials Corporation Dynamic Materials Corporation
303-604-3938 303-604-3923
LAFAYETTE, CO--Dynamic Materials Corporation, (Nasdaq: BOOM), 'DMC,' and Spin
Forge, LLC have entered into a Letter of Intent for DMC to acquire the assets of
Spin Forge, LLC. The acquisition is subject to the parties reaching an agreement
on the final terms of the transaction, the completion of due diligence and the
approval of DMC's Board of Directors.
Spin Forge, headquartered in El Segundo, California, is one of the country's
leading manufacturers of tactical missile motor cases and titanium tanks for
commercial aerospace. "Spin Forge enjoys a number of strategic strengths,
including sole-source supplier status on several projects and the ability to
'spin form' exceptionally large metal parts using what is believed to be among
the largest capacity Computer Numerically Controlled (CNC) spin-forging
equipment for such work in North America," said Paul Lange, president and chief
executive officer of DMC. Lange continued, "Our sales and marketing organization
already has extensive
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experience promoting large sheet-metal parts manufactured utilizing DMC's
explosion forming technology. We believe the acquisition will make this
combination of companies particularly complementary."
Separately, on January 5, 1998, DMC completed the acquisition of the assets and
business of AMK Welding (AMK), headquartered in South Windsor, CT. AMK is a
leading supplier of commercial aircraft and aerospace-related automatic and
manual gas tungsten and arc welding (GTAW) services. AMK has considerable
expertise in vacuum-controlled atmosphere purged chamber welding -- a critical
capability when welding titanium, zirconium, high temperature nickel alloys and
other speciality alloys. According to Lange, DMC's plans are to continue to
operate AMK's business, to build on AMK's proprietary technologies, and to grow
the organization's production capacity to satisfy customers' demands.
The unaudited 1997 revenues for Spin Forge and AMK Welding were approximately
$6.5 million and $1.2 million, respectively.
Lange concluded, "These acquisitions are in line with our strategy to diversify
DMC while building capabilities that complement our existing business. We
continue to identify additional opportunities for acquisition and growth."
Except for the historical information contained herein, this news release
contains forward-looking statements that involve risks and uncertainties,
including, but not limited to, the timing and size of orders by major customers,
customer inventory levels, retention of key customers, shifts in product mix,
the availability and timing of potential future acquisitions, the occurrence of
acquisition-related costs, general economic conditions as they affect the
Company's key
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customers, as well as the other risks detailed from time to time in the
Company's SEC reports, including the report on Form 10-KSB for the year ended
December 31, 1996.
Based in Lafayette, Colorado, Dynamic Materials Corporation is an established
leader in the use of high energy metal working, producing explosion bonded clad
metal plates and a variety of metal fabrications for commercial aircraft,
aerospace and defense industries.
FOR MORE INFORMATION ON DYNAMIC MATERIALS CORPORATION
VISIT THE COMPANY'S WEB SITE AT WWW.DYNAMICMATERIALS.COM
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