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UNITED STATES
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): January 15, 1996
APPLIED POWER INC.
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(Exact name of Registrant as specified in its charter)
WISCONSIN 1-11288 39-0168610
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(State of incorporation) (Commission File No.) (I.R.S. Employer Id. No.)
13000 WEST SILVER SPRING DRIVE
BUTLER, WISCONSIN 53007
MAILING ADDRESS: P. O. BOX 325, MILWAUKEE, WISCONSIN 53201
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(Address of principal executive offices) (Zip Code)
(414) 781-6600
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(Registrant's telephone number, including area code)
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Item 5. Other Events
On January 15, 1996, Applied Power Inc. issued a press release announcing
that its GB Electrical unit had completed the acquisition of certain U.S. and
foreign patents relating to the products of Vision Plastics Manufacturing
Company ("Vision Plastics"). GB Electrical had acquired the Vision Plastics
business in a separate transaction that was announced on October 3, 1995.
Consideration for these two transactions totaled approximately $21.5 million.
Vision Plastics, based in San Diego, California, manufactures plastic cable
ties which are sold through electrical wholesale, retail and OEM channels.
Vision Plastics is expected to solidify GB Electrical's position as a prime
low-cost producer of a rapidly expanding product category. The press release is
incorporated herein by reference to Exhibit 20 of this Report, to which the
reader is referred for more information.
Item 7. Financial Statements and Exhibits
(c) Exhibits:
See the Exhibit Index following the Signature page of this Report,
which is incorporated herein by reference.
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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 thereunto duly authorized.
APPLIED POWER INC.
Date: January 19, 1996 By: /s/Robert C. Arzbaecher
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Robert C. Arzbaecher,
Vice President and
Chief Financial Officer
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APPLIED POWER INC.
EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
Date of Report: January 15, 1996
Exhibit Filed
Number Description Herewith
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20 Press Release X
dated January 15, 1996
regarding completion
of Vision Plastics Manufacturing
Company business and related
patents acquisitions
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FROM: APPLIED POWER INC., P.O. BOX 325, MILWAUKEE, WI 53201
DATE: JANUARY 15, 1996
FOR RELEASE: IMMEDIATE
FOR FURTHER INFORMATION CONTACT: ROBERT C. ARZBAECHER
APPLIED POWER'S GB ELECTRICAL COMPLETES
VISION PLASTICS TECHNOLOGY ACQUISITION
MILWAUKEE, January 15, 1996 --- Applied Power Inc. (APW - NYSE)
announced today that its GB Electrical unit completed the acquisition of
certain U.S. and foreign patents relating to the products of Vision Plastics
Manufacturing Company. GB Electrical had acquired the Vision Plastics business
in a separate transaction that was announced on October 3, 1995. Total
consideration for these two transactions was approximately $21.5 million.
Vision Plastics, based in San Diego, California, is a leading
manufacturer of plastic cable ties. Its products are currently sold through
electrical wholesale, retail and OEM channels. Ted Lecher, President of GB
Electrical, commented, "The purchase of the patents represents the final stage
of the Vision Plastics acquisition. This business adds significant production
capacity and market channel access to our cable tie product line, which is an
extremely important segment for GB. The performance of Vision Plastics in the
first three months that we have owned it has exceeded our expectations."
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APPLIED POWER - 2
In an unrelated matter, the Board of Directors of Applied Power Inc.
has declared a quarterly dividend of $0.03 per share on the Company's Common
Stock. The dividend is payable on February 29, 1996 to shareholders of record
on February 9, 1996.
Applied Power is a world leader in industrial motion and position
control applications and a pioneer in the marriage of hydraulic and vibration
technologies with electronics. The Company is comprised of three business
segments. Engineered Solutions, which includes Power-Packer, APITECH and Barry
Controls, is an OEM supplier to the automotive, truck, mobile equipment,
marine, medical equipment, defense and aerospace markets. Distributed Products,
which consists of Enerpac and GB Electrical, provides a wide variety of high
pressure hydraulic products and electrical tools and consumables sold primarily
through distribution worldwide. Wright Line provides technical furniture
solutions for offices and laboratories.
For further information contact:
Applied Power Inc.
Robert C. Arzbaecher
Vice President & Chief Financial Officer
414-781-6600
To receive a faxed copy of this or other recent Applied Power communications,
please call the Company's "News on Demand" service at 1-800-549-0679.
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