<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
(X) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (FEE REQUIRED)
For The Fiscal Year Ended December 31, 1993
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For The Transition Period From To
Commission File Number 1-7608
A. Full title of the plan and the address of the plan, if different
from that of the issuer named below:
LOCTITE CORPORATION EMPLOYEE THRIFT INVESTMENT PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
LOCTITE CORPORATION
10 COLUMBUS BOULEVARD
HARTFORD, CONNECTICUT 06106
<PAGE>
FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements: PAGE NO.
Report of Independent Accountants 2
Statement of Financial Condition
- December 31, 1993 and 1992 3-5
Statement of Income and Changes in
Plan Equity - Years ended December 31, 1993,
1992, and 1991 6-10
Notes to Financial Statements 11-15
[Schedules - Schedules I, II, and III
have been omitted because the required
information is shown in the financial
statements or notes thereto.]
(b) Exhibits
(23) Consent of Independent Accountants E-1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the members of the Administrative Committee have duly caused
this annual report to be signed on the Committee's behalf by the
undersigned, thereunto duly authorized.
LOCTITE CORPORATION EMPLOYEE THRIFT INVESTMENT PLAN
(Name of Plan)
By /s/ Robert L. Aller
----------------------------------------------
Robert L. Aller, Senior Vice President
and Chief Financial Officer
Chairman, Administrative Committee
Date: June 27, 1994
- 1 -
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Participants and Plan Administrator
of the Loctite Corporation Employee
Thrift Investment Plan
In our opinion, the accompanying statements of financial condition
and the related statements of income and changes in plan equity
present fairly, in all material respects, the financial status of the
Loctite Corporation Employee Thrift Investment Plan at December 31,
1993 and 1992, and the changes in its financial status for each of
the three years in the period ended December 31, 1993, in conformity
with generally accepted accounting principles. These financial
statements are the responsibility of the plan administrator; our
responsibility is to express an opinion on these financial statements
based on our audits. We conducted our audits of these statements in
accordance with generally accepted auditing standards which require
that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates
made by the plan administrator, and evaluating the overall financial
statement presentation. We believe that our audits provide a
reasonable basis for the opinion expressed above.
/s/ Price Waterhouse
Hartford, Connecticut
June 17, 1994
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Financial Condition
December 31, 1993 and 1992
<CAPTION>
SHORT TERM COMPANY STOCK
FUND FUND
1993 1992 1993 1992
-------- -------- ----------- -----------
<S> <C> <C> <C> <C>
Assets:
Cash $ 403 $ 352 $ 36,974 $ 40
Loctite Corporation
common stock receivable
(Cost: 1993 - $188,372;
1992 - $90,772) -- -- 184,151 91,022
Dividends receivable -- -- 74,305 66,459
Investments: (Note 2)
Loctite Corporation
common stock at market
(Cost: 1993 - $8,187,102;
1992 - $6,934,281) -- -- 13,519,186 15,786,326
Investment in Diversified
Equity Fund
(Cost: 1993 - $3,880,607;
1992 - $2,988,427) -- -- -- --
Investment in insurance
contracts and other -- -- -- --
Temporary investments 81,069 139,176 -- --
-------- -------- ----------- -----------
Total assets $ 81,472 $139,528 $13,814,616 $15,943,847
======== ======== =========== ===========
Liabilities and plan equity:
Accrued expenses $ -- $ 9,853 $ -- $ --
Plan equity 81,472 129,675 13,814,616 15,943,847
-------- -------- ----------- -----------
Total liabilities
and plan equity $ 81,472 $139,528 $13,814,616 $15,943,847
======== ======== =========== ===========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
This table is continued on the next page.
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Financial Condition
December 31, 1993 and 1992
<CAPTION>
FIXED INCOME DIVERSIFIED
FUND EQUITY FUND
1993 1992 1993 1992
----------- ----------- ---------- ----------
<S> <C> <C> <C> <C>
Assets:
Cash $ -- $ 1 $ -- $ --
Loctite Corporation
common stock receivable
(Cost: 1993 - $188,372;
1992 - $90,772) -- -- -- --
Dividends receivable -- -- -- --
Investments: (Note 2)
Loctite Corporation
common stock at market
(Cost: 1993 - $8,187,102;
1992 - $6,934,281) -- -- -- --
Investment in Diversified
Equity Fund
(Cost: 1993 - $3,880,607;
1992 - $2,988,427) -- -- 4,766,549 3,304,474
Investment in insurance
contracts and other 13,377,948 12,642,478 -- --
Temporary investments -- -- -- --
----------- ----------- ---------- ----------
Total assets $13,377,948 $12,642,479 $4,766,549 $3,304,474
=========== =========== ========== ==========
Liabilities and plan equity:
Accrued expenses $ 6,600 $ 42,000 $ 1,800 $ 8,400
Plan equity 13,371,348 12,600,479 4,764,749 3,296,074
----------- ----------- ---------- ----------
Total liabilities
and plan equity $13,377,948 $12,642,479 $4,766,549 $3,304,474
=========== =========== ========== ==========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
This table is continued on the next page.
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Financial Condition
December 31, 1993 and 1992
<CAPTION>
TOTAL
1993 1992
----------- -----------
<S> <C> <C>
Assets:
Cash $ 37,377 $ 393
Loctite Corporation
common stock receivable
(Cost: 1993 - $188,372;
1992 - $90,772) 184,151 91,022
Dividends receivable 74,305 66,459
Investments: (Note 2)
Loctite Corporation
common stock at market
(Cost: 1993 - $8,187,102;
1992 - $6,934,281) 13,519,186 15,786,326
Investment in Diversified
Equity Fund
(Cost: 1993 - $3,880,607;
1992 - $2,988,427) 4,766,549 3,304,474
Investment in insurance
contracts and other 13,377,948 12,642,478
Temporary investments 81,069 139,176
----------- -----------
Total assets $32,040,585 $32,030,328
=========== ===========
Liabilities and plan equity:
Accrued expenses $ 8,400 $ 60,253
Plan equity 32,032,185 31,970,075
----------- -----------
Total liabilities
and plan equity $32,040,585 $32,030,328
=========== ===========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
This table ends on this page.
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Income and Changes in Plan Equity
Years Ended December 31, 1993, 1992, and 1991
<CAPTION>
SHORT TERM
FUND
1993 1992 1991
---------- ---------- ----------
<S> <C> <C> <C>
Contributions and
transfers:
Participants $3,233,577 $2,825,425 $2,570,963
Interfund transfers (1,034,063) (1,139,032) (1,432,358)
Banite transfer -- 3,033 --
Loctite Corporation
(Net of forfeitures
1993 - $ 7,588;
1992 - $11,220;
1991 - $ 5,854) -- -- --
---------- ---------- ----------
Total contributions
and transfers 2,199,514 1,689,426 1,138,605
---------- ---------- ----------
Investment experience:
Dividends and interest 17,110 13,436 10,276
Unrealized appreciation
(depreciation) of
investments -- -- --
Realized gain (loss) on
distribution of
investments -- -- --
---------- ---------- ----------
Total investment
experience 17,110 13,436 10,276
---------- ---------- ----------
Disbursements:
Participant withdrawals
and distributions 2,264,827 1,550,138 1,190,557
Plan expenses -- -- 10,276
---------- ---------- ----------
Total disbursements 2,264,827 1,550,138 1,200,833
---------- ---------- ----------
Net increase (decrease)
in plan equity (48,203) 152,724 (51,952)
Plan equity at beginning
of year 129,675 (23,049) 28,903
---------- ---------- ----------
Plan equity at end
of year $ 81,472 $ 129,675 $ (23,049)
========== ========== ==========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Income and Changes in Plan Equity
Years Ended December 31, 1993, 1992, and 1991
<CAPTION>
COMPANY STOCK
FUND
1993 1992 1991
----------- ----------- -----------
<S> <C> <C> <C>
Contributions and
transfers:
Participants $ -- $ -- $ --
Interfund transfers 448,463 434,919 347,494
Banite transfer -- -- --
Loctite Corporation
(Net of forfeitures
1993 - $ 7,588;
1992 - $11,220;
1991 - $ 5,854) 1,305,163 1,170,910 1,040,664
----------- ----------- -----------
Total contributions
and transfers 1,753,626 1,605,829 1,388,158
----------- ----------- -----------
Investment experience:
Dividends and interest 289,783 256,687 233,229
Unrealized appreciation
(depreciation) of
investments (3,524,433) (2,554,259) 6,352,633
Realized gain (loss) on
distribution of
investments 419,872 1,115,591 492,137
----------- ----------- -----------
Total investment
experience (2,814,778) (1,181,981) 7,077,999
----------- ----------- -----------
Disbursements:
Participant withdrawals
and distributions 1,068,079 1,535,059 1,241,244
Plan expenses -- -- --
----------- ----------- -----------
Total disbursements 1,068,079 1,535,059 1,241,244
----------- ----------- -----------
Net increase (decrease)
in plan equity (2,129,231) (1,111,211) 7,224,913
Plan equity at beginning
of year 15,943,847 17,055,058 9,830,145
----------- ----------- -----------
Plan equity at end
of year $13,814,616 $15,943,847 $17,055,058
=========== =========== ===========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Income and Changes in Plan Equity
Years Ended December 31, 1993, 1992, and 1991
<CAPTION>
FIXED INCOME
FUND
1993 1992 1991
----------- ----------- -----------
<S> <C> <C> <C>
Contributions and
transfers:
Participants $ -- $ -- $ --
Interfund transfers (207,690) 133,072 840,925
Banite transfer -- 18,402 --
Loctite Corporation
(Net of forfeitures
1993 - $ 7,588;
1992 - $11,220;
1991 - $ 5,854) -- -- --
----------- ----------- -----------
Total contributions
and transfers (207,690) 151,474 840,925
----------- ----------- -----------
Investment experience:
Dividends and interest 1,018,159 927,451 871,988
Unrealized appreciation
(depreciation) of
investments -- -- --
Realized gain (loss) on
distribution of
investments -- -- --
----------- ----------- -----------
Total investment
experience 1,018,159 927,451 871,988
----------- ----------- -----------
Disbursements:
Participant withdrawals
and distributions -- -- 654,590
Plan expenses 39,600 42,000 40,800
----------- ----------- -----------
Total disbursements 39,600 42,000 695,390
----------- ----------- -----------
Net increase (decrease)
in plan equity 770,869 1,036,925 1,017,523
Plan equity at beginning
of year 12,600,479 11,563,554 10,546,031
----------- ----------- -----------
Plan equity at end
of year $13,371,348 $12,600,479 $11,563,554
=========== =========== ===========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Income and Changes in Plan Equity
Years Ended December 31, 1993, 1992, and 1991
<CAPTION>
DIVERSIFIED
EQUITY FUND
1993 1992 1991
---------- ---------- ----------
<S> <C> <C> <C>
Contributions and
transfers:
Participants $ -- $ -- $ --
Interfund transfers 793,290 571,041 243,939
Banite transfer -- -- --
Loctite Corporation
(Net of forfeitures
1993 - $ 7,588;
1992 - $11,220;
1991 - $ 5,854) -- -- --
---------- ---------- ----------
Total contributions
and transfers 793,290 571,041 243,939
---------- ---------- ----------
Investment experience:
Dividends and interest 98,603 105,156 97,747
Unrealized appreciation
(depreciation) of
investments 569,310 289,775 404,909
Realized gain (loss) on
distribution of
investments 18,272 183 (1,265)
---------- ---------- ----------
Total investment
experience 686,185 395,114 501,391
---------- ---------- ----------
Disbursements:
Participant withdrawals
and distributions -- -- --
Plan expenses 10,800 8,400 7,500
---------- ---------- ----------
Total disbursements 10,800 8,400 7,500
---------- ---------- ----------
Net increase (decrease)
in plan equity 1,468,675 957,755 737,830
Plan equity at beginning
of year 3,296,074 2,338,319 1,600,489
---------- ---------- ----------
Plan equity at end
of year $4,764,749 $3,296,074 $2,338,319
========== ========== ==========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
This table is continued on the next page.
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<PAGE>
<TABLE>
Loctite Corporation Employee
Thrift Investment Plan
Statement of Income and Changes in Plan Equity
Years Ended December 31, 1993, 1992, and 1991
<CAPTION>
TOTAL
1993 1992 1991
----------- ----------- -----------
<S> <C> <C> <C>
Contributions and
transfers:
Participants $ 3,233,577 $ 2,825,425 $ 2,570,963
Interfund transfers -- -- --
Banite transfer -- 21,435 --
Loctite Corporation
(Net of forfeitures
1993 - $ 7,588;
1992 - $11,220;
1991 - $ 5,854) 1,305,163 1,170,910 1,040,664
----------- ----------- -----------
Total contributions
and transfers 4,538,740 4,017,770 3,611,627
----------- ----------- -----------
Investment experience:
Dividends and interest 1,423,655 1,302,730 1,213,240
Unrealized appreciation
(depreciation) of
investments (2,955,123) (2,264,484) 6,757,542
Realized gain (loss) on
distribution of
investments 438,144 1,115,774 490,872
----------- ----------- -----------
Total investment
experience (1,093,324) 154,020 8,461,654
----------- ----------- -----------
Disbursements:
Participant withdrawals
and distributions 3,332,906 3,085,197 3,086,391
Plan expenses 50,400 50,400 58,576
----------- ----------- -----------
Total disbursements 3,383,306 3,135,597 3,144,967
----------- ----------- -----------
Net increase (decrease)
in plan equity 62,110 1,036,193 8,928,314
Plan equity at beginning
of year 31,970,075 30,933,882 22,005,568
----------- ----------- -----------
Plan equity at end
of year $32,032,185 $31,970,075 $30,933,882
=========== =========== ===========
<FN>
(See accompanying notes to financial statements)
</FN>
</TABLE>
This table ends on this page.
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<PAGE>
LOCTITE CORPORATION EMPLOYEE
THRIFT INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - DESCRIPTION OF THE PLAN
The Plan became effective on January 1, 1982 and is a qualified defined
contribution thrift plan which enables employees to save systematically
through payroll deductions. Through April 30, 1994, eligible employees
were able to participate in the Plan after completion of at least one
year of service. Effective May 1, 1994, eligible employees may
participate in the Plan after completion of three months of service. The
Plan will also accept rollovers from other qualified plans.
Participants may elect to make a contribution of one to sixteen percent
of their compensation. Participant contributions are made through
payroll deductions and, through April 30, 1994, were invested at the
participant's election into one or a combination of three funds:
COMPANY STOCK FUND
The Company Stock Fund is invested solely in Loctite Corporation
common stock. Participants' contributions to the Company Stock Fund
are limited to a maximum of 25% of their contributions.
FIXED INCOME FUND
The Fixed Income Fund is invested in securities and obligations which
produce a fixed rate of return. Participants' contributions made in
1993 to the Fixed Income Fund were invested in a deposit
administration contract with New York Life Insurance Company, which
guarantees an effective annual rate of 5.60% compounded annually,
maturing on December 31, 1998. Participants' contributions made in
1992 to the Fixed Income Fund were invested in a deposit
administration contract with Continental Assurance Company which
guarantees an effective annual rate of 6.60% compounded annually,
maturing on December 31, 1997. Participants' contributions made in
1991, originally invested in the Fleet Bank, N.A. Temporary Investment
Fund were invested in a deposit administration contract with
Continental Assurance Company which guarantees an effective annual
rate of 6.72% compounded annually, maturing on December 31, 1996. In
October 1991, a deposit administration contract was opened with
Hartford Life Insurance Company which guarantees an effective annual
rate of 7.51% compounded annually, maturing on October 21, 1996.
DIVERSIFIED EQUITY FUND
The Diversified Equity Fund is invested in equity securities.
Participants' contributions to the Diversified Equity Fund through
April 30, 1994, were invested in an open-end, diversified investment
management company, Fidelity Advisor Institutional Equity Portfolio
Income, with the Fidelity Investments Institutional Services Company.
Effective May 1, 1994, the Plan was amended to offer two additional
investment choices. In addition to the three funds defined above, the
Plan also offers an open-end diversified management company with Fidelity
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<PAGE>
Investments: Fidelity Magellan Fund, and an open-end diversified
management company with Templeton Funds, Inc.: Templeton Foreign Fund.
Monthly contributions are made by the Company, in shares of its common
stock, in an amount equal to fifty percent of each participant's
contribution (up to 6% of participant compensation). Forfeitures of
participants' non-vested Company Stock Fund accounts are used by the
Company to reduce its contributions to the Plan.
Participants are fully vested at all times in their contributions and the
investment experience associated therewith. Participants become fully
vested in the Company's contributions and the investment experience
associated therewith when they complete five years of service with the
Company or after two years of participation in the Plan, whichever is
more favorable to the employee. In the event of the participant's death,
disability, or retirement, all amounts in the participant's account
become fully vested.
Employees may begin withdrawing their before-tax contributions and
earnings from the Plan at age 59 1/2. Effective May 1, 1994, the Plan
also allows participants to borrow from their vested account balances.
Withdrawals or distributions are made from participants' vested balances
in their elected funds. The funds are paid in cash from the Short Term
Fund and in common stock from the Company Stock Fund.
The Short Term Fund receives the monthly participant contributions and
invests them in short term instruments pending allocation of the
contributions to the elected funds. The Short Term Fund is invested in
Fleet Bank, N.A. Short Term Investment Fund.
The Company anticipates the Plan will continue without interruption, but
reserves the right to discontinue the Plan. In the event the Plan is
terminated, participants receive all funds in their accounts including
common stock, whether or not vested.
Employees participating in the Plan were as follows:
[CAPTION]
December 31, December 31, December 31,
1993 1992 1991
------------ ------------ ------------
[S] [C] [C] [C]
Company Stock Fund 1,049 1,044 1,009
Fixed Income Fund 1,009 1,020 993
Diversified Equity Fund 542 507 443
The participants above may have invested in more than one of the
investment funds. All Plan participants are enrolled in the Company
Stock Fund because of the Company's matching contribution, which is
credited to that fund. The number of participants electing to direct a
portion of their contributions to the Company Stock Fund were 629, 613,
and 540 respectively, at December 31, 1993, 1992, and 1991.
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<PAGE>
NOTE 2 - SUMMARY OF ACCOUNTING POLICIES
The investments in the Fixed Income Fund and the Short Term Fund are
valued at cost plus interest earned.
The investments and receivable in the Company Stock Fund are valued at
market. The investments in the Diversified Equity Fund are valued by the
investment manager at estimated fair market value.
The expenses of operating the Loctite Corporation Employee Thrift
Investment Plan are payable from assets held by the Plan, unless the
Company elects to pay such expenses. The Plan incurred operating
expenses of $50,400, $50,400, and $58,576 for the years ended
December 31, 1993, 1992, and 1991, respectively.
The realized gain on the investments distributed to participants from the
Company Stock Fund represents the difference between the average monthly
market price and the average cost of the Loctite Common Stock. The
realized gain (loss) on the distribution of investments in the
Diversified Equity Fund represents the excess (deficiency) of proceeds
from the sale of the investments over the cost of the specifically
identified investments.
Neither the Plan nor the Trust are subject to federal income tax as the
Plan and Trust have been determined by the IRS to satisfy the
qualification and exemption requirements of sections 401(a) and (k) and
501(a), respectively, of the Internal Revenue Code of 1986.
NOTE 3 - INVESTMENT IN LOCTITE CORPORATION COMMON STOCK
During 1993 and 1992, net issuances and (redemptions) of the Company
Stock Fund were 19,961 and (737) shares, respectively, of Loctite
Corporation common stock. These shares were issued and redeemed by the
Company at the average monthly market price. The above mentioned shares
have been restated to reflect a two-for-one stock split effective
March 19, 1991.
NOTE 4 - MASTER TRUST
The assets of the Plan, the assets of the Retirement Plan of Loctite
Corporation and the assets of the Retirement and Savings Plan of Loctite
Puerto Rico, Inc. are maintained under a Master Trust Agreement with
Fleet Bank, N.A., Trustee. The assets of the Plan and the assets of each
Retirement Plan are segregated, and accounted for and reported on
separately by the Trustee. Therefore, separate financial statements of
the Master Trust have not been included.
NOTE 5 - PARTICIPANTS' TAX STATUS
Effective January 1, 1985, participants could elect to make contributions
in amounts from 1% to 10% on a pre-tax basis and from 1% to 16% on an
after-tax basis or any combination thereof up to a total of 16% of their
compensation. From January 1, 1991, through August 31, 1991, the maximum
contribution for the members whose earnings exceeded $60,535 was limited
to 7% on a pre-tax basis and 8% for a combination of pre-tax and
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<PAGE>
after-tax contributions. Effective September 1, 1991, the maximum
contribution for these members was decreased to 6% pre-tax and 7% for
a combination of pre-tax and after-tax contributions. Effective
January 1, 1992, the maximum contribution for members whose earnings
exceeded $62,345 remained at 6% and 7% respectively. Effective
January 1, 1993, the maximum contribution for members whose earnings
exceeded $64,245 remained at 6% and 7% respectively. Pre-tax
contributions, the Company's contributions and the investment experience
are generally not taxable to the participant until withdrawn or
distributed from the Plan. Pre-tax contributions are subject to
reduction in the event that such contributions exceed limitations imposed
by the Internal Revenue Code.
NOTE 6 - GAIN ON SALE OF STOCK
The following tables summarize the net gain on sale of stock during 1993:
[CAPTION]
Gain on
Number of Sale of
Shares Sold Proceeds Cost Stock
----------- ---------- -------- --------
[S] [C] [C] [C] [C]
Loctite Corporation
Common Stock Fund 27,123 $1,068,078 $648,206 $419,872
Diversified
Equity Fund 7,054 104,678 86,406 18,272
------ ---------- -------- --------
Total 34,177 $1,172,756 $734,612 $438,144
====== ========== ======== ========
The Department of Labor requires plans to report such gains and losses
under the current value method. Such method calculates realized gains
and losses on investments sold as sales proceeds less the current value
as of the beginning of the year (or acquisition cost if acquired during
the year). Unrealized gains and losses are calculated as the current
value of the investments held at the end of the year less their current
value as of the beginning of the year (or acquisition cost if acquired
during the year). Realized and unrealized gains and losses calculated
using the current value method for the year ended December 31, 1993 and
the amounts presented in the financial statements are reconciled as
follows:
[CAPTION]
Financial
Statements Form 5500
----------- -----------
[S] [C] [C]
Net gain/(loss) on investments
sold $ 438,144 $ (150,848)
Unrealized loss in fair
market value of investments (2,955,123) (2,366,131)
----------- -----------
Net loss $(2,516,979) $(2,516,979)
=========== ===========
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<PAGE>
NOTE 7 - REQUESTED DISTRIBUTIONS AND WITHDRAWALS
The following is a summary of distributions and withdrawals requested by
participants which had not yet been paid on the respective plan year end:
[CAPTION]
December 31, December 31,
1993 1992
------------ ------------
[S] [C] [C]
Short Term Fund $171,342 $18,931
Company Stock Fund 143,472 25,002
Fixed Income Fund -- --
Diversified Equity Fund -- --
These amounts are reflected as liabilities in the Plan's Form 5500.
- 15 -
<PAGE>
INDEX TO EXHIBITS
Description Page No.
(23) Consent of Independent Accountants E-1
- 16 -
<PAGE>
EXHIBIT (23)
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the
Prospectus constituting part of the Registration Statement on
Form S-8 (No. 33-32379) of Loctite Corporation of our report
dated June 17, 1994 appearing on page 2 of the Annual Report
of the Loctite Corporation Employee Thrift Investment Plan of
this Form 11-K.
/s/ Price Waterhouse
Hartford, Connecticut
June 27, 1994
E-1
