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)
March 16, 1998
MILASTAR CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 0-5105 13-2636669
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
No. 9 Via Parigi, Palm Beach, Florida 33480
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (561) 655-9590
Not Applicable
Former name, former address and former fiscal year, if changed
since last report.
MILASTAR CORPORATION AND SUBSIDIARIES
Item 2. Acquisition or Disposition of Assets
On March 16, 1998 (the "Closing Date"), Flame Metals
Processing Corporation ("Flame"), a Delaware corporation and a
wholly-owned subsidiary of Milastar Corporation, a Delaware
corporation ("Registrant"), purchased substantially all of the assets
(the "Assets") and assumed certain liabilities (the "Liabilities") of
Twin City Steel Treating Company, Inc., a Minnesota corporation
("Seller"), pursuant to an asset purchase agreement dated as of March
16, 1998 (the "Purchase Agreement").
The aggregate purchase price paid by Flame to Seller was
$2,738,191 which amount was comprised of the following: (i) a cash
payment of $174,280, (ii) assumption of the Liabilities in the
aggregate amount of $2,110,352 and (iii) Flame's promissory note
in the principal amount of $453,559, payable in 54 monthly
installments. An amendment to this report will be filed within 60
days of the date hereof under cover of Form 8-K (amended) to reflect
the adjustment to the purchase price as well as to provide the pro
forma and other financial information.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(a)Financial statements of business acquired:
It is impracticable to provide the required financial
statements at the time of the filing of this report. The
required financial information will be filed under cover
of Form 8-K (amended) within 60 days of the date
hereof.
(b)Pro forma financial information:
It is impracticable to provide the required pro forma
financial information at the time of the filing of this
report. The required pro forma financial information will
be filed under cover of Form 8-K (amended) within 60
days of the date hereof.
MILASTAR CORPORATION AND SUBSIDIARIES
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 hereunto duly authorized.
MILASTAR CORPORATION
/s/ J. RUSSELL DUNCAN
J. Russell Duncan
Chairman of Board (Chief Executive
and Principal Financial and Accounting Officer)
Dated: March 27, 1998
