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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FROM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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February 12, 1999
Date of Report (Date of earliest event reported)
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DURAKON INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
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Michigan 0-13601 38-2492342
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(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number Identification No.)
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2101 N. Lapeer Road, Lapeer, Michigan 48446
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (810) 664-0850
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Not Applicable
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(Former name or former address, of changed since last report)
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FORM 8-K
Item 5. Other Events.
Durakon Industries, Inc. has received a contract from General Motors
Corporation to supply cargo management products beginning in 2001. The
products will be manufactured by Durakon Mexicana S.A. de C.V., Duration's
60%-owned joint venture in Mexico, which is part of Durakon's Vehicle
Accessories segment.
Sales from this GM contract are presently estimated at approximately $44
million per year. In 1997, Durakon had net sales of $179.9 million, of which
$92.2 million were in the Vehicle Accessories Segment. Based on Durakon's 1997
revenue base, this contract represents a potential increase of approximately
24% in consolidated sales and more than 48% in Vehicle Accessories sales.
Item 7. Financial Statements and Exhibits.
None.
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Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this Report to be signed on its behalf
by the undersigned hereunto duly authorized.
DURAKON INDUSTRIES, INC.
By: /s/ David W. Wright
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David W. Wright
President and Chief Executive
Officer
Dated: February 12, 1999
