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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): June 20, 1995
GILBERT ASSOCIATES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-12588 23-2280922
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(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
P.O. Box 1498, Reading, Pennsylvania 19603
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(Mailing address of principal executive offices) (Zip Code)
(610) 775-5900
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(Registrant's telephone number, including area code)
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Item 2: Acquisition or Disposition of Assets
News Release
Gilbert Associates, Inc.
FOR IMMEDIATE RELEASE - June 20, 1995
For further information: Timothy S. Cobb, President/CEO, (610) 855-2400
GILBERT COMPLETES SALE OF GILBERT/COMMONWEALTH
Reading, PA -- Gilbert Associates, Inc. (NASDAQ:GILBA) announced today that
it had completed the sale of its Gilbert/Commonwealth subsidiary to The
Parsons Corporation for a total purchase price of approximately $46 million.
As previously announced, Gilbert's Class B stockholders had approved the
sale at a June 16, 1995 Special Meeting.
Timothy S. Cobb, Gilbert Associates' President and CEO stated that the sale
positioned the company to redirect its resources from its historic power
generation business into other investments and business opportunities
designed to enhance shareholder value. The company also intends to continue
its previously announced stock repurchase program under which up to $15
million of Gilbert common stock might be repurchased.
Gilbert Associates' remaining subsidiaries include GAI-Tronics Corporation,
Reading, PA, a telecommunications equipment manufacturer; Resource Consultants,
Inc., Vienna, VA, a provider of professional services to federal departments
and agencies; SRA Technologies, Inc., Falls Church, VA a clinical laboratory
and environmental consulting company; United Energy Services Corporation,
Atlanta, a technical management and consulting organization, and Green Hills
Management Co., Reading, PA Gilbert's real estate management and development
unit.
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.
GILBERT ASSOCIATES, INC.
(Registrant)
/s/Timothy S. Cobb
Timothy S. Cobb
President, Chief Executive Officer
and Acting Chief Financial Officer
Date: June 20, 1995
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