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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): MAY 29, 1997
CENTRUM INDUSTRIES, INC.
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(Exact Name of Registrant as specified in its Charter)
Delaware 0-9607 34-1654011
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(State or other juris- (Commission File Number) (IRS Employer
diction of incorporation) Identification No.)
6135 Trust Drive, Suite 104A, Holland, Ohio 43528
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(Address of principal executive offices)
Registrant's telephone number, including area code:
(419) 868-3441
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ITEM 5. - OTHER EVENTS
On May 29, 1997, the Registrant issued a press release announcing its
pending acquisition of substantially all the assets of Taylor Forge
International, Inc., a Tennessee corporation. The press release is set forth
as Exhibit 99 hereto.
ITEM 7. - FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit 99 - Press release dated May 29, 1997.
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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.
CENTRUM INDUSTRIES, INC.
(Registrant)
June 2 , 1997 By: /s/ Timothy M. Hunter
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Timothy M. Hunter
Chief Financial
Officer and Treasurer
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EXHIBIT INDEX
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Exhibit Number Exhibit Page
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99 Press release dated May 29, 1997 5
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EXHIBIT 99
PRESS RELEASE
MAY 29, 1997
Centrum Industries, Inc. (Bulletin Board "CIII"), a publicly traded Delaware
corporation, today announced its pending acquisition of substantially all of
the assets of Taylor Forge International, Inc., Memphis, Tennessee.
Both the Board of Directors of Centrum and Taylor Forge have unanimously
approved the proposed acquisition, and terms of the acquisition agreement were
agreed upon in negotiations between officers and directors of Centrum and
Taylor Forge. Centrum management stated that Taylor Forge personnel would
remain substantially in place and anticipates no major organizational changes.
The acquisition of Taylor Forge will allow Centrum (through its McInnes Steel
subsidiary's Rolled Rings division) to produce rolled rings from 4 inches to
160 inches in weights ranging from 2 pounds to 10,000 pounds. Prior to the
Taylor Forge acquisition, McInnes Rolled Rings was capable of producing rings
from 4 inches to 80 inches in weights ranging from 2 pounds to 2,000 pounds.
The acquisition continues Centrum's formal commitment to the rolled ring
industry. The McInnes Rolled Rings facility utilizes the industry's most
advanced technology and is recognized as a leader in quality, price and
delivery. As a result of these advantages, revenues at the division have grown
by as much as 50% this year, and operating margins are the highest in the metal
forming group. Taylor Forge will complement McInnes Rolled rings with similar
technology, and their combined capabilities will cover more than 90% of the
targeted markets.
Centrum Industries is headquartered in Toledo, Ohio with manufacturing
operations in metal forming (McInnes Steel Company, Corry, PA and its
subsidiaries), motor production systems (Micafil-Axis, L.L.C., Dayton, OH) and
material handling systems (American Handling, Inc., Cleveland, OH). Centrum's
growth policy has included companies in the metal forming business, and Centrum
management believes that this combination will be beneficial to both companies.
Closing on the acquisition is expected in early June.
