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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) November 21, 2000
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Hi-Shear Industries Inc.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
1-7633 11-2406878
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(Commission File Number) (I.R.S. Employer Identification No)
3333 New Hyde Park Road, North Hills, New York 11042
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(Address of Principal Executive Offices) (Zip Code)
(516) 627-8600
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(Registrant's Telephone Number, Including Area Code)
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Item 5. OTHER EVENTS
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On November 20, 2000 Registrant announced that the U.S. Navy had
withdrawn its appeal of a decision issued March 17, 2000, awarding the
company $18,410,414 plus interest. The award was based on the wrongful
termination in 1991 by the Navy of two contracts awarded Hi-Shear's
subsidiary, Defense Systems Corporation. The company expected to file a
certificate of finality with the Armed Services Board of Contract
Appeals effectively ending this matter.
SIGNATURE
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Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DATED: November 21, 2000
HI-SHEAR INDUSTRIES INC.
By: /s/ Victor J. Galgano
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Victor J. Galgano
Vice President, Chief Financial Officer
