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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): June 5, 1995
UNITED STATES BANKNOTE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-3410 13-0462520
(Commission File Number) (IRS Employer Identification No.)
51 West 52nd Street, New York, NY 10019
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 212-582-9200
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Item 5. Other Events
On June 5, 1995 United States Banknote Corporation (the
"Corporation") publicly announced that its Brazil subsidiary had
signed an agreement to acquire the printing operations of Banco
Bradesco S.A. (Brazil). Under the terms of the agreement, Banco
Bradesco will become a holder of 22.5% of American Bank Note
Company Grafica e Servicos Ltda. ("ABN-Brazil") the Corporation's
Brazil subsidiary which was acquired in 1993, in exchange for the
assets of Grafica Bradesco.
Grafica Bradesco is engaged in the business of check
printing, check personalization, continuous forms, deposit slips,
financial cards and insurance policies and prior to the purchase
by the Corporation had printed exclusively for Banco Bradesco and
its affiliates. ABN-Brazil will continue to be the supplier for
Banco Bradesco and will continue to operate in the Sao Paulo
location of Grafica Bradesco for up to one year.
The transaction is expected to close June 30, 1995.
At the Annual Meeting held on June 6, 1995, the stockholders
of the Corporation approved the change of the Corporation's name
from United States Banknote Corporation to American Banknote
Corporation. The name change will take effect on or about
Monday, July 3, 1995. The Corporation's common stock will
continue to be listed and traded on the New York Stock Exchange
under the new ticker symbol "ABN".
Item 7. Exhibits
A copy of the Corporation's press release dated June 5, 1995
is attached hereto as Exhibit 1.
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SIGNATURE
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 thereunto duly authorized.
Date: June 9, 1995 UNITED STATES BANKNOTE
CORPORATION
By: /s/ HARVEY J. KESNER
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Harvey J. Kesner
Senior Vice President,
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Exhibit 1
For Further Information,
Please Contact:
Tom Black
The P.L. Thomas Group
312/906-8060
For Immediate Release
United States Banknote to Enter
Electronic Benefit Transfer Business
New York, May 30, 1995 -- United States Banknote Corporation
(NYSE:UBK) announced today that it had signed a definitive
agreement to acquire a 24.5% interest in TransFirst, Inc., from
Affiliated Computer Services, Inc. (NASDAQ:ACSA) for an
undisclosed amount, according to Morris Weissman, Chairman and
Chief Executive Officer of United States Banknote.
TransFirst is a leading government data processing contractor
specializing in the design and operation of Electronic Benefit
Transfer (EBT) and Electronic Parent Locator Network (EPLN)
systems. Currently, TransFirst operates an EBT system in Ramsey
and Hennepin counties (Minneapolis/St. Paul), Minnesota and
provides EPLN services for 11 states, including Arkansas,
Georgia, Louisiana, South Carolina, Virginia and West Virginia.
TransFirst has exclusive rights to Affiliated Computer Services'
"Accept" software, which has been used to develop a number of EBT
and state-welfare programs. "Accept" software programs are
designed to include certification and cash benefits for a variety
of government programs, including: child support, food stamps,
Medicare and Medicaid, Social Security, unemployment compensation
and welfare. It also can disburse benefits through ATM
terminals. And "Accept" software can interface with other
financial services, such as credit and debit transactions as well
as check verifications.
TransFirst majority shareholder, Walter Patterson, was formerly
Director of the Arkansas' Department of Human Services and is a
well-known figure in the government assistance community. Robert
Bucceri, formerly Senior Vice President of Monetary Management
Corp., will join TransFirst. Monetary Management is the
country's leading retail over-the-counter distributor of
government assistance benefits, including food stamps and
welfare. Affiliated Computer Services will continue to own a
24.5% interest in TransFirst.
Weissman commented: "We're delighted that United States Banknote
can join in this exciting venture with Walt Patterson and ACS,
one of the country's leading data processing companies. Our vast
experience in the food-stamp program should prove of value to
TransFirst and we expect to pursue upcoming bids aggressively.
Additionally, TransFirst will expand its scope to include other
state and federal programs. TransFirst is the only minority
contractor with Federally approved software for EBT. The
original "Accept" software created EBT in the United States. Now
"Accept" has been upgraded to meet the latest federal and state
requirements.
Weissman said the purchase is expected to be completed in the
next several weeks, following satisfactory completion of due
diligence and approval of TransFirst's lender.
United States Banknote produces a variety of security printed
products, including treasury checks, stock and bond certificates,
travelers cheques, food coupons, passports, personal checks,
foreign currency and financial payment and pre-paid telephone
cards. Through its American BankNote Holographics subsidiary,
the company also is the world's leading producer of holograms for
security applications, including those in VISA, MasterCard,
Discover and Europay financial cards. Its Brazilian subsidiary
is that country's largest security printer with manufacturing
facilities in Rio de Janeiro and Sao Paulo.
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