SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 29, 1995
HANDY & HARMAN
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
New York 1-5365 13- 5129420
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
250 Park Avenue, New York, NY 10177
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code (212) 661-2400
N/A
FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On December 29, 1995, Handy & Harman (the
"Registrant") announced that its wholly-owned subsidiary,
Handy & Harman Automotive Group, Inc.("HHAG"), in
accordance with the terms of an Asset Purchase Agreement,
dated as of December 7, 1995, by and among Echlin Inc.
("Echlin"), HHAG and the Registrant (the "Agreement"),
had completed the sale of substantially all of the assets
of the automotive division of HHAG to Preferred Technical
Group, Inc., a subsidiary of Echlin, on December 29, 1995
for $65,000,000 in cash plus the assumption of certain
liabilities, subject to certain post-closing adjustments
pursuant to the Agreement.
A copy of the press release pertaining to the
foregoing announcement is attached hereto as Exhibit 99
and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(C) EXHIBITS.
99 Press Release issued by the Registrant on
December 29, 1995.
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.
January 10, 1996
HANDY & HARMAN
By: /s/ STEPHEN B. MUDD
Name: Stephen B. Mudd
Title: Vice President
EXHIBIT INDEX
Exhibit Description
99 Text of Press Release issued by the Registrant
on December 29, 1995.
EXHIBIT 99
FROM: ON BEHALF OF:
Robert W. Bloch International Handy & Harman
30 East 60th Street Contact:
New York, NY 10022 Stephen B. Mudd
(212) 755-8047 Vice President and Treasurer
(914) 925-4444
FOR IMMEDIATE RELEASE:
HANDY & HARMAN ANNOUNCES COMPLETION OF THE
SALE OF ITS AUTOMOTIVE SUBSIDIARY
New York, NY - December 29, 1995 --- Handy & Harman today announced
the completion of the sale, for $65 million in cash, of the net assets of
its Automotive segment headquartered in Auburn Hills, Michigan. As
previously announced, the transaction will generate a fourth quarter pre-
tax gain in excess of $20 million.
Commenting on the transaction, Richard N. Daniel, Chairman and Chief
Executive Officer, said, "The sale will provide Handy & Harman with
additional capital and debt capacity. This is one more step in our
strategy of moving to higher value-added, technology-based businesses."
Mr. Daniel further stated, "As a result of the financial flexibility
provided by our precious metals inventories and the improvement of our
balance sheet, we can execute the recently announced stock buy back plan
while, at the same time, continue to refocus the Company's mission through
growth and expansion opportunities."
Handy & Harman is a diversified manufacturer providing engineered
products, system components and precious metal fabrication and refining for
industry worldwide. Founded in 1867, Handy & Harman is headquartered in
New York. The shares of Handy & Harman are traded on the New York Stock
Exchange with the ticker symbol: HNH
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