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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) March 22, 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
On March 20, 2000 Registrant announced that it had received a
decision in a series of long standing appeals before the Armed
Services Board of Contract Appeals. The decision, issued March
17, 2000, awarded Hi-Shear Industries $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 parties have 120
days within which to appeal the decision.
SIGNATURE
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: March 22, 2000
HI-SHEAR INDUSTRIES INC.
By: s/Victor J. Galgano
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Victor J. Galgano
Vice President, Chief Financial Officer
