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) April 2, 1996
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Newcor, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-5985 38-0865770
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(State or other (Commission (IRS Employer
jurisdiction) File Number) Identification No.)
1825 S. Woodward Avenue, Suite 240, Bloomfield Hills, MI 48302
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (810) 253-2400
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(Former name or former address, if changed since last report)
ITEM 5 OTHER EVENTS
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On April 2, 1996, Newcor, Inc. issued a press release announcing that
ABB Flexible Automation has signed a Letter of Intent with Newcor, Inc.
to purchase the Wilson Automation Division. The full text of the press
release is set forth in Exhibit 99 attached hereto and is incorporated
in this report as if fully set forth herein.
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits:
99 Press release dated April 2, 1996.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Newcor, Inc.
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(Registrant)
Date April 4, 1996 /s/ John Garber
---------------- John Garber
Vice President-Finance
Immediate Release:
ABB Flexible Automation Signs Letter of Intent to Acquire Wilson Automation
Newcor, Inc., Bloomfield Hills, Michigan, April 2, 1996. W. John
Weinhardt, President and Chief Executive Officer of Newcor, Inc., announced
today that ABB Flexible Automation, a unit of ABB (Asea Brown Boveri), has
signed a Letter of Intent with Newcor, Inc. to purchase the Wilson
Automation division.
Wilson Automation, located in Warren, Michigan, is a leading supplier with
widely acknowledged expertise in the design and manufacture of engine,
transmission, and axle assembly systems. Wilson has been supplying
advanced assembly and testing systems to automotive and other users in
North America since 1952.
ABB Flexible Automation's engine and transmission assembly systems are
presently designed and built at ABB Flexible Automation, located in
Langenfeld, Germany. This agreement will bring together the skills,
experience and complementary product lines of both companies and will give
the ABB Flexible Automation/Wilson combination a leading position in global
engine, transmission, and axle assembly.
" This divestiture is an essential step in Newcor's strategy to move away
from the more volatile special machine systems business and redeploy our
resources to concentrate on more rapid growth in our Precision Machined
Products and Rubber and Plastic Components groups," said Weinhardt.
" We feel that the sale of Wilson Automation to ABB will assure Wilson's
future in the increasingly global market for engine, transmission, and axle
systems. ABB will become the only engine, transmission, and axle assembly
supplier which has complete design and build capability in both North
America and Europe."
Wilson Automation, with 150 employees, will be a division of ABB Flexible
Automation and will continue its operations in Warren, Michigan. It will
be designated as a Center of Excellence for engine, transmission, and axle
assembly for ABB in the Americas.
Newcor, Inc., headquartered in Bloomfield Hills, Michigan, is a leading
supplier of precision machined parts, molded rubber and plastic components,
and special machines to the automotive, agricultural, appliance and other
industries. Newcor is listed on the NASDAQ Stock Market under the symbol
NEWC.
