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): December 16, 1997
NATIONAL-STANDARD COMPANY
(Exact name of Registrant as specified in its charter)
Indiana 1-3940 38-1493458
State of other jurisdiction (Commission File Number) (IRS Employer
Identification No.)
1618 Terminal Rd., Niles, MI 49120
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (616) 683-8100
ITEM 5. OTHER EVENTS
On December 16, 1997, Registrant issued a press release announcing the award of
a weld wire contract by Magna International. A copy of such press release is
attached hereto as Exhibit (99) and incorporated in this item by reference.
This press release contains forward looking statements relating to the dollar
value of the Magna contract over time and the beginning shipment date for
product. These statements are subject to risks and uncertainties, including,
but not limited to, the impact of competitive products and pricing, product
demand, industry capacity, availability and raw materials. Based upon changing
conditions, should any one or more of these risks or uncertainties materialize,
actual results under the Magna contract may vary materially from those
described. The company does not intend to update these forward looking
statements.
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.
NATIONAL-STANDARD COMPANY
By: /s/ Timothy C. Wright
Its General Counsel and Secretary
Dated: December 16, 1997
EXHIBIT INDEX
Exhibit (99) - Registrant's press release dated December 16, 1997.
Dated: December 16, 1997
NATIONAL-STANDARD
CONTACT: Mike Savitake
National-Standard
616-683-8100
National-Standard Awarded Major Weld Wire Contract
by Magna International
NILES, Mich., Dec. 16 - National-Standard Company (NYSE: NSD) today announced
the Company has signed a contract with Magna International, Inc. (NYSE: MGA), a
diversified supplier of systems, components, and frames to manufacturers of cars
and light trucks internationally. Under the terms of the agreement, National-
Standard will supply Magna in excess of $25 million in weld wire over a five-
year period.
"This contract represents a significant weld wire order for our company," said
Michael Savitske, President and Chief Executive Officer of National-Standard.
"The market continues to value National-Standard's ability to supply weld wire
that provides superior performance based on ease of use, reduced downtime and
improved weld quality. Throughout our 90-year history, we have focused on
satisfying the changing needs of our customers. Innovative products, such as
our Tru-Trac TM weld wire bulk package system, are examples of National-
Standard's commitment to its customers."
Shipments are expected to begin in March 1998 from the Company's facilities in
Niles, Michigan., and Guelph, Ontario, Canada. Although the volume anticipated
over the period is expected to reach $25 million, and actual shipments will
depend on the auto industry's requirements for frames, which could change
over time. The Company is investing approximately $6 million for the capacity
required to satisfy the Magna requirement as well as anticipated growth in the
weld wire market. Magna, one of the most diversified automotive suppliers in
the world, designs, develops and manufactures automotive systems, assemblies and
components, primarily for sale to original equipment manufacturers, including
frames for cars an light trucks in North America, Mexico, and Europe. Magna's
products include exterior decorative systems; interior products, including
seating systems, door and other panels; sound insulation systems; stamped and
welded metal parts and assemblies; sunroofs; electromechanical devices and
assemblies; various engine, powertrain, and fueling and cooling components; and
a variety of plastic parts, including body panels and fascias.
Founded in 1907, National-Standard is a Niles, Mich.-based firm with annual
sales of approximately $250 million. In nine operating facilities throughout
the world, the Company manufactures and distributes a broad range of wire and
wire-related products, including tire bead wire and welding wire, in addition to
wire cloth and fabricated filters for the automotive air bag industry.
This press release may contain forward-looking statements ands defined under the
Private Securities Litigation Reform Act of 1995. Cautionary statements
accompany these forward-looking statements are set forth, along with this
release, in a Form 8-K filed with the Securities and Exchange Commission.
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