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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
APRIL 18, 1996
(Date of Report)
NASHUA CORPORATION
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
1-5492-1 02-0170100
(Commission File Number) (I.R.S. Employer Identification No.)
44 FRANKLIN STREET, NASHUA, NEW HAMPSHIRE 03060
(Address of Principal Executive Offices) (Zip Code)
(603)880-2323
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5 - OTHER EVENTS
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On April 17, 1996, Nashua Corporation issued the following press release:
NASHUA CORPORATION ANNOUNCES
SALE OF TAPE PRODUCTS DIVISION
Nashua, NH, April 17, 1996 - Nashua Corporation (NYSE:NSH) today announced
that it has signed an agreement to sell its Tape Products Division,
formerly part of its Commercial Products Group, to The Kendall Company, a
wholly owned subsidiary of Tyco International Ltd. The sale is subject to
approval by Tyco's Board of Directors and regulatory approval under the
Hart-Scott-Rodino Anti-trust Improvement Act of 1976. Kendall will pay
Nashua $28 million at closing for the net assets of the business, subject
to certain post-closing adjustments. Completion of the transaction is
expected before the end of June.
Gerald G. Garbacz, president and chief executive officer of Nashua
Corporation, stated, "The sale of the Tape Products Division is an
important component in Nashua's strategy to focus its operations on its
core markets. The sale also demonstrates Nashua's commitment to set and
achieve the business objectives essential for the Company's success. We
plan to use the proceeds from the sale to strengthen our financial position
by reducing debt."
The Tape Products Division, based in Watervliet, New York, with sales in
excess of $50 million, manufactures and sells tape products for HVAC,
industrial and general purpose applications. As a result of the
divestiture, Nashua's Commercial Products Group is now composed of three
divisions: Specialty Coated Products, Label Products and Imaging Supplies.
Nashua Corporation offers a diverse mix of products including thermal
papers, pressure sensitive labels, specialty papers, copier and laser
printer supplies, aluminum substrates and photofinishing services.
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 thereunto duly authorized.
NASHUA CORPORATION
April 18, 1996 By /s/ Daniel M. Junius
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Daniel M. Junius
Vice President - Finance
and Chief Financial Officer
