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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 October 19, 1999
(Date of earliest event reported)
KIMBALL INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
INDIANA
(State or other jurisdiction of incorporation)
0-3279 35-0514506
(Commission File Number) (IRS Employee Identification Number)
1600 Royal Street, Jasper, Indiana 47549-1001
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (812) 482-1600
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5. Other Events
On October 19, 1999, the Registrant issued press releases announcing the
agreement to acquire Jackson of Danville and the election of nominees to the
Board of Directors.
KIMBALL INTERNATIONAL, INC. ACQUIRES SEATING MANUFACTURER
Jasper, IN (October 19, 1999) - Aiming to bolster their market share in the
seating segment of the hospitality and healthcare markets, Kimball
International, Inc. (NASDAQ: KBALB) today announced the signing of a definitive
agreement to acquire Jackson of Danville headquartered in Danville, Kentucky.
Jackson of Danville is a privately held manufacturer of custom and in-line fully
upholstered seating products and wood framed chairs marketed under the brand
name "Health Wise" and "Jackson of Danville" for the hospitality and healthcare
markets with manufacturing facilities located in Danville and Greensburg,
Kentucky. The closing of the transaction, subject to the satisfaction of
certain conditions, is expected to occur within the next 30 to 45 days.
The acquisition will allow Kimball and Jackson of Danville to leverage their
strengths in the sales and marketing of seating products to the hospitality and
healthcare markets while at the same time, offer new opportunities to Jackson of
Danville to expand distribution of their custom and designer-oriented products.
As a result of these anticipated synergies, Kimball expects to achieve an
increase in both the sales and income of seating and casegoods products to the
hospitality and healthcare markets.
"We are pleased to announce this transaction and welcome Jackson of Danville and
their employees into the Kimball family," said Kimball International, Inc.
President, James C. Thyen. "Jackson of Danville has been providing Kimball
Lodging and Healthcare with high-quality, affordable hospitality and healthcare
seating for many years. We believe that this strategic acquisition will help to
strengthen an already impressive line of seating products and casegoods marketed
by Kimball Lodging and Healthcare. Jackson of Danville also brings an
experienced sales and marketing staff supported by a network of independent
representatives throughout the United States making Kimball Lodging and
Healthcare an even more formidable competitor in the lodging and healthcare
industries. Today's announcement is further confirmation of our continued
commitment to delivering new and improved products to the marketplace for the
long-term benefit of the employees and Share Owners of Kimball International,
Inc.," concluded Thyen.
Certain statements contained within this document are forward looking statements
under the Private Securities Litigation Reform Act of 1995 and are subject to
risks and uncertainties such as the successful closing of the proposed
acquisition of Jackson of Danville, fluctuations in market demands and general
economic conditions.
Kimball International, Inc. provides a vast array of products from its two
business segments: the Furniture and Cabinets Segment and the Electronic
Contract Assemblies Segment. The Furniture and Cabinets Segment manufactures
furniture for the office, residential, lodging and healthcare industries and
store display fixtures, all sold under the Company's family of brand names.
Other products produced by Kimball on an original equipment manufactured basis
include store fixtures, television cabinets and stands, audio speaker systems
and furniture components. The Electronic Contract Assemblies Segment is a
global provider of design engineering, manufacturing, packaging and distribution
of electronic assemblies, circuit boards, multi-chip modules and semiconductor
components on a contract basis to customers in the transportation, industrial
controls, telecommunications, computer and medical industries.
To learn more about the products and services offered by Kimball International,
Inc., visit the Company's web site located on the Internet at www.kimball.com.
"Kimball International Builds Success"
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KIMBALL INTERNATIONAL HOLDS ANNUAL MEETING OF SHARE OWNERS
JASPER, IN (October 19, 1999) - At their 1999 annual meeting held today,
Share Owners of Kimball International, Inc. (NASDAQ: KBALB) overwhelmingly
elected all twelve nominees to the Board of Directors. The following Board
members were re-elected to serve a one-year term: Douglas A. Habig, Thomas L.
Habig, James C. Thyen, John B. Habig, Ronald J. Thyen, John T. Thyen, Gary P.
Critser, Brian K. Habig, Dr. Jack R. Wentworth, Christine M. Vujovich, Alan B.
Graf, Jr. and Polly B. Kawalek.
Kimball International, Inc. provides a vast array of products from its two
business segments: the Furniture and Cabinets Segment and the Electronic
Contract Assemblies Segment. The Furniture and Cabinets Segment manufactures
furniture for the office, residential, lodging and healthcare industries and
store display fixtures, all sold under the Company's family of brand names.
Other products produced by Kimball on an original equipment manufactured basis
include store fixtures, television cabinets and stands, audio speaker systems
and furniture components. The Electronic Contract Assemblies Segment is a
global provider of design engineering, manufacturing, packaging and distribution
of electronic assemblies, circuit boards, multi-chip modules and semiconductor
components on a contract basis to customers in the transportation, industrial
controls, telecommunications, computer and medical industries.
To review a transcript of the annual meeting reports and visual
presentations made by Chairman and Chief Executive Officer Douglas A. Habig and
Robert F. Schneider, Executive Vice President, Chief Financial Officer,
Assistant Treasurer, visit Kimball's web site on the Internet at
www.kimball.com.
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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.
Kimball International, Inc.
By: Robert F. Schneider
ROBERT F. SCHNEIDER
Executive Vice President,
Chief Financial Officer,
Assistant Treasurer
Date: October 20, 1999
