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) September 29, 1995
ARVIN INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Indiana 1-302 35-0550190
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(State or other Commission (I.R.S. Employer
jurisdiction of File Number Identification No.)
incorporation)
One Noblitt Plaza, Box 3000
Columbus, IN 47202-3000
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(Address of principal executive (Zip Code)
offices)
812-379-3000
(Registrant's telephone number including area code)
Item 5. Other Events
On September 29, 1995 Arvin Industries, Inc. sold its seventy
percent ownership in Space Industries International, Inc.
For additional information, see the Registrant's press release
dated October 4, 1995, which is attached hereto as Exhibit 99 and
incorporated by reference herein.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(99) Press Release issued October 4, 1995 regarding the
sale of the Company's seventy percent ownership in
Space Industries International, Inc.
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.
ARVIN INDUSTRIES, INC.
by: /s/ William M. Lowe, Jr.
________________________________
William M. Lowe, Jr.
Controller & Chief Accounting Officer
Date: October 4, 1995
FOR IMMEDIATE RELEASE
WEDNESDAY, OCTOBER 4, 1995
CONTACT: John W. Brown - 812/379-3389
William Kendall - 812/379-3285
ARVIN REPORTS COMPLETION OF MANAGEMENT BUY-OUT
OF TECHNOLOGY SEGMENT
Columbus, IN. Arvin Industries, Inc. (NYSE:ARV), today reported
it has sold its 70 percent ownership in Space Industries
International, Inc. ("SIII") to a group formed by SIII senior
management. Upon completion of the sale, the new company changed
its name to Calspan SRL Corporation.
"This move is one of the last planned moves to focus Arvin more
on its core automotive businesses and more specifically Exhaust
System and Ride Control Products. It is Arvin's intent to
continue to build on business where it has global recognition as
a major automotive supplier," stated Arvin CEO Byron Pond.
Arvin received approximately $30.6 million in cash and will
guarantee approximately $23 million of the new company's debt.
This guarantee will decline quarterly over a four year period
before expiring. Proceeds from the sale will be used for debt
reduction and new investment in the company's core businesses.
The results of operations of SIII have been previously reported
by Arvin as the Technology segment.
Arvin Industries, Inc., is a global manufacturer and supplier of
automotive parts and related products and services.
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