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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) February 14, 1997
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Methode Electronics, 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)
0-2816 36-2090085
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(Commission File Number) (I.R.S. Employer Identification Number)
7444 W. Wilson Avenue, Harwood Heights, Illinois 60656
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(Address of Principal Executive Offices) (Zip Code)
(708) 867-9600
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
The press release issued by the Registrant Company on February 17, 1997, is
herein incorporated by reference.
EXHIBITS
Exhibit 21 - Methode Electronics, Inc. Press Release Dated February 17, 1997
(Page 3 of 3)
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.
Methode Electronics, Inc.
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(Registrant)
Date February 20, 1997 By Kevin Hayes
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Kevin Hayes, Chief Financial Officer
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NEWS RELEASE
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FOR: Methode Electronics, Inc. CONTACT: Kevin J. Hayes
7444 W. Wilson Ave. (708) 867-9600
Chicago, IL 60656
Methode Electronics, Inc. Announces
Acquisition of 75% Interest in Intellectual Property Company
FOR IMMEDIATE RELEASE
CHICAGO - February 17 - Methode Electronics, Inc. today announced that it
has acquired 75% of the Common Stock of Sentorque, Inc. located in Florida.
Sentorque owns a portfolio of intellectual property covering innovative advances
in circularly magnetized non-contact torque sensors. There are currently
several large manufacturers licensed to produce products under license
agreements, and it is anticipated that over time this number will grow
substantially. The terms of the transaction were not disclosed.
Chairman William J. McGinley said, "The inventions utilize the
magnetoelastic properties of metals for inexpensive non-contact measurement of
torsional stress on a shaft. Its superiority to other methods of torque
measurement lies in its simplicity of design and ability to measure torque
without flexing or straining the shaft. Combined with advanced position sensors
currently under development at Methode and Methode's experience in clockspring
transducers, low cost direct measurement of power transmitted by a rotating
shaft is now possible. The low price of the sensor is expected to open broad
new markets including automotive electric steering, power transmission,
industrial machinery and consumer goods," Mr. McGinley concluded.
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