SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 26, 1999
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NORTEK, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 1-6112 05-0314991
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) I.D. Number)
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50 Kennedy Plaza, Providence, Rhode Island 02903-2360
(Address of Principal Executive Offices) (Zip Code)
(401) 751-1600
Registrant's Telephone Number including area code
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Item 5. Other Events
On April 26, 1999, Nortek, Inc. (the "Company") issued a press release
announcing it had completed the acquisition of three businesses from Caradon plc
of the United Kingdom: Peachtree Doors and Windows, Thermal-Gard and CWD Windows
and Doors.
A copy of the press release issued by the Company on April 26, 1999 is
attached hereto as Exhibit 99 and is incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 99 Press release issued by Nortek, Inc. on April 26,
1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.
NORTEK, INC.
By: /s/Richard J. Harris
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Name:Richard J. Harris
Title: Vice President and Treasurer
[Letterhead of Nortek, Inc.]
Richard L. Bready, Chairman
Richard J. Harris, Vice President and Treasurer
(401) 751-1600
IMMEDIATE
NORTEK COMPLETES THE ACQUISITION OF THREE NORTH AMERICAN
OPERATIONS OF CARADON plc
Purchase Includes Peachtree Doors and Windows, a Well-Known
National Supplier of Premium Window and Door Products
PROVIDENCE, RI, April 26, 1999--Nortek, Inc. (NYSE:NTK), today announced it has
completed the acquisition of three businesses from Caradon plc of the United
Kingdom: Peachtree Doors and Windows, Thermal-Gard and CWD Windows and Doors.
Peachtree Doors and Windows, based in Norcross, Georgia, is a national supplier
of premium residential windows, entry doors and patio doors that targets custom
and high-end home markets. Peachtree adds a strong consumer brand name to
Nortek's window business. In addition, it manufactures and sells entry doors, a
product line which Nortek currently does not offer and which will allow Nortek
to offer a more complete package to builders.
Thermal-Gard, based in Punxsutawney, Pennsylvania, manufactures premium
replacement windows, patio doors and sunrooms, primarily for the eastern and
mid-western residential markets. The Thermal-Gard product line enhances Nortek's
market leadership position in the lucrative--and growing--vinyl replacement
window market. In addition, Thermal-Gard manufactures and sells sunrooms, a
product line which complements Nortek's vinyl replacement window businesses.
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CWD Windows and Doors, headquartered in Calgary, Alberta, is a leading provider
of complete window and door systems for new homes in Western Canada. CWD gives
Nortek a solid entrance into the Western Canadian new-construction market, which
is currently very strong, and which should help expand Nortek's sales in the
western part of North America.
Richard L. Bready, Nortek's Chairman and Chief Executive Officer, said "This
acquisition aggressively expands our North American presence in the windows and
doors marketplace. These companies will be added to Nortek's Windows, Doors and
Siding Group, which already includes some of the country's leading manufacturers
of quality windows, patio doors, vinyl siding and vinyl-siding accessories. The
business units in this group have built a reputation for offering high-value,
low-maintenance building products for residential and light commercial
applications in both the new construction and the repair/remodeling markets."
Nortek is a leading international manufacturer and distributor of high-quality,
competitively priced building, remodeling and indoor environmental control
products for the residential and commercial markets. The Company offers a broad
array of products for improving the environments where people live and work. Its
products include range hoods and other spot ventilation products, heating and
air conditioning systems, wood and vinyl windows and doors, vinyl siding
products, indoor air quality systems, and specialty electronic products.
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as "expects,"
"anticipates," "intends," "plans," "estimates," or similar expressions are
intended to identify these forward-looking statements. These statements are
based on the Company's current plans and expectations and involve risks and
uncertainties that could cause actual future activities and results of
operations to be materially different from those set forth in the
forward-looking statements. Important factors that could cause actual future
activities and results to differ include the availability and cost of certain
raw materials (including among
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others steel, copper, packaging materials, plastic, resins, glass, wood and
aluminum) and purchased components, the level of domestic and foreign
construction and remodeling activity affecting residential and commercial
markets, interest rates, employment, inflation, Y2K readiness, currency
translation, consumer spending levels, operating in international economies, the
rate of sales growth, price and product liability claims. The Company undertakes
no obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise. For further information,
please refer to the Company's reports and filings with the Securities and
Exchange Commission.
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