SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15d of the
Securities and Exchange Act of 1934
---------------------------
Date of Report (Date of earliest
event reported) September 29, 1995
WLR Foods, Inc.
(Exact name of registrant as specified in its charter)
Virginia 0-17060 54-1295923
(State of (Commission File (IRS Employer Iden-
Incorporation) Number) tification No.)
P.O. Box 7000 22815
Broadway, Virginia (Zip Code)
(Address of Principal executive offices)
(540) 896-7001
(Registrant's telephone number,
including area code)
Exhibit Index is on Page 4
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Item 5. Other Events
On September 29, 1995, the Company announced that it had
purchased the chicken processing and production assets, including the
processing plant, hatchery, feedmill, grain storage facilities and
inventories, of New Hope Feeds, Inc. and its affiliate of New Hope,
North Carolina. The new processing plant, located approximately ten
miles south of Goldsboro, North Carolina, opened in the spring of
1995, and is expected to reach a production capacity of 650,000 birds
per week, with employment of 550 people, during the next twelve
months. The purchase price is expected to be approximately
$18 million, subject to certain post-closing adjustments, consisting
of a combination of stock and debt assumption.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
Exhibits
Exhibit 99 Press Release dated September 29, 1995
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SIGNATURE
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.
WLR Foods, Inc.
By:__/S/ Delbert L. Seitz_______
Delbert L. Seitz
Chief Financial Officer
Secretary and Treasurer
55161
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EXHIBIT INDEX
Exhibit No. Description Page Number
99 Press Release dated September 29, 1995 5
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EXHIBIT 99
FOR IMMEDIATE RELEASE
Contact: Delbert L. Seitz,
Chief Financial Officer
or Stanley H. Gray,
Director of Investor Relations
540-896-7001
Gail Price, Director of
Corporate Communication
540-896-0406
WLR FOODS INC. ANNOUNCES PURCHASE OF NEW HOPE FEEDS INC.
AND PRODUCTION INCREASES PLANNED FOR THE NEW OPERATION
Broadway, Virginia, September 29, 1995 - WLR Foods Inc. (NASDAQ: WLRF)
today announced the purchase, through a subsidiary, of the chicken
processing and production assets of New Hope Feeds Inc. and an
affiliated company. The purchase price is expected to be
approximately $18 million, subject to post-closing adjustments.
Assets acquired include a processing plant, hatchery, feed mill, grain
storage facilities, and inventories.
The operation currently employs 370 people and contracts with 87
poultry producers and is located 10 miles south of Goldsboro, North
Carolina. The new processing plant opened in the spring of 1995 and
currently processes 250,000 birds per week. WLR Foods expects to
expand production to 650,000 birds per week and employment to 550
people during the next 12 months. This growth will also create the
need for additional broiler housing.
President and Chief Executive Officer James L. Keeler commented, We
are excited to welcome New Hope into WLR Foods today. The expansion
opportunities this facility gives us will help our company meet
increasing customer demand in foodservice and export. These are
rapidly growing areas of our business.
WLR Foods is a fully integrated provider of high quality turkey and
chicken products primarily under the Wampler-Longacre(R) and Cuddy
Family Farms(R) labels and retail ice under the Cassco(R) label. It is
nationally ranked as the second largest turkey processor and the
eighth largest poultry company by sales volume and has processing
operations in Virginia, North Carolina, West Virginia, and
Pennsylvania, close to its major mid-Atlantic markets. Fiscal 1995
annual sales for WLR Foods were $908,776,000, an increase of 25% over
fiscal 1994.
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