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) September 23, 1996
Moog Inc.
(Exact Name of Registrant as Specified in Charter)
New York 1-5129 16-0757636
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
East Aurora, NY 14052
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (716) 652-2000
NONE
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On September 23, 1996, Moog Inc. issued the attached
press release.
Item 7. Exhibits.
(i) Press release.
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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.
MOOG INC.
MOOG INC.
(Registrant)
Date: September 24, 1996 By: /s/ ROBERT T. BRADY
Robert T. Brady,
Chairman and Chief
Executive Officer
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Moog Inc. - East Aurora, New York 14052-0018
Telephone: 716/652-2000 - Fax: 716/687-4457
MOOG
Moog Inc. Agrees To Acquire Moog Controls Inc.
EAST AURORA, N.Y., Sept. 23 /PRNewswire/ -- Moog Inc.
announced today that it has agreed to acquire the principal
assets of Moog Controls Inc. (MCI). MCI was formed in 1988 when
Moog Inc. exchanged the Company's U.S. Industrial Hydraulics
Division for stock held by Bill Moog, the Company's founder. MCI
is now owned by International Motion Control (IMC) of Orchard
Park, New York. IMC is selling the principal assets of MCI to
Moog Inc. for $48.6 million. R. T. Brady, Moog's Chairman and
CEO, characterized the sale price as about 7.4 times EBITDA for
the latest twelve months. During this period, revenues were
about $30 million. "Moog Controls Inc. is an extraordinary
operation and its position in the U.S. servovalve market is an
excellent complement to Moog Inc.'s overseas industrial
capabilities and U.S. aerospace business," said Mr. Brady.
"There could not be a more strategic acquisition for us," said
Mr. Brady, "and we expect that it will be an earnings contributor
from day one."
In a simultaneous but separate transaction, Moog Inc.
acquired from IMC a 110,000 sq. ft. building which was intended
to house MCI when it moved out of its current facilities on the
Moog campus.
Patrick Lee, Chairman and CEO of IMC commented, "We acquired
MCI with every intention of integrating it into the IMC family of
motion control companies. On the eve of our move to new
quarters, Moog Inc. made us a very attractive offer. In the end,
it seems that all the related parties: employees, customers,
shareholders, and the community will be better served if the Moog
servovalve companies are brought together."
The transaction, which is expected to close in October, is
subject to regulatory approval.
Moog Inc. is a worldwide manufacturer of high performance
controls used in commercial, industrial, aerospace and defense
applications.
SOURCE Moog Inc.
09/23/96
/CONTACT: Susan Johnson of Moog Inc., 716-652-2000 or
fax, 716-687-4457/ (MOG.B)
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