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): October 30, 1998
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Oak Industries Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-4474 36-1569000
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(State or other juris- (Commission File (IRS Employer
diction of incorporation) Number) Identification No.)
1000 Winter Street
Waltham, MA 02451
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 781-890-0400
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Same
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(Former name or former address, if changed since last report.)
Item 5. Other Events
On October 30, 1998, Oak Industries Inc. ("Oak"), through a wholly-owned
subsidiary, acquired 100% of the shares of Tele Quarz GmbH ("Tele Quarz"), a
leading manufacturer of frequency control products located in
Neckarbischofsheim, Germany. The purchase price of approximately DM 105
million (approximately $65 million) includes the refinancing of certain
indebtedness of Tele Quarz. The acquisition was financed with borrowings
under Oak's existing credit facility. A copy of the press release announcing
such acquisition is attached hereto as Exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
The following financial statements, pro forma financial information and
exhibits are filed as part of this report.
(c) Exhibits
99. Press release dated October 30, 1998.
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.
Oak Industries Inc.
Date: October 30, 1998 /s/ Coleman S. Hicks
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Coleman S. Hicks
Senior Vice President and
Chief Financial Officer
Exhibit 99
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FOR IMMEDIATE RELEASE Contact: Coleman S. Hicks
781-890-0400
OAK INDUSTRIES ANNOUNCES CLOSING OF
TELE QUARZ GMBH ACQUISITION
WALTHAM, MA, October 30, 1998 -- Oak Industries Inc. (NYSE:OAK) today
announced that it closed its acquisition of Tele Quarz GmbH, a leading
manufacturer of frequency control products located in Neckarbischofsheim,
Germany. The purchase price of approximately DM 105 million (approximately
$65 million), includes the refinancing of certain indebtedness of Tele
Quarz. The acquisition was financed with borrowings under Oak's existing
credit facility.
Tele Quarz is Europe's largest manufacturer of frequency control
products. The company produces a broad range of precision crystals and
oscillators for the wireless and wired telecommunications infrastructure
markets. Tele Quarz also produces crystals for handset and automotive
applications, and channel crystals for radio and paging applications. Tele
Quarz designs and manufactures precision crystals and oscillators in a
highly automated facility in Neckarbischofsheim, Germany. The company also
produces higher-volume crystals at a facility in Peistany, Slovakia. Tele
Quarz will operate as a division of the Oak Frequency Control Group.
Oak Industries Inc. is a leading manufacturer of highly engineered
components that it designs and sells to manufacturers and service providers
in the communications and other selected industries. Oak's communications
components consist primarily of connectors for the CATV industry, frequency
control devices used in base stations for wireless communications, and
fiber-optic components for the wired telephony infrastructure. Oak's
controls components include components for gas ranges, and switches and
encoders, which are used in a wide range of applications. Visit the Oak
Industries Inc. web site at http:\\www.oakind.com.
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