SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 21, 1999
DREW INDUSTRIES INCORPORATED
- --------------------------------------------------------------------------------
Delaware 0-13646 13-3250533
- --------------------------------------------------------------------------------
(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification
incorporation) No.)
200 Mamaroneck Avenue, White Plains, New York 10601
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 428-9098
- --------------------------------------------------------------------------------
- - - - - - - -
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
a) Reference is made to the press release issued to the public by the
Registrant on October 21, 1999, the text of which is attached hereto
as Exhibit 99, for a description of the events reported pursuant to
this Form 8-K.
Item 7. Financial Statements and Exhibits
c) Exhibits
99 Press Release dated October 21, 1999
Pursuant to the requirements of the Securities and Exchange Act of 1934,
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
DREW INDUSTRIES INCORPORATED
(Registrant)
By: /s/ Leigh J. Abrams
-----------------------------------
Leigh J. Abrams
President and Chief Executive Officer
Dated: November 17, 1999
2
Exhibit 99
For Immediate Release
DREW ANNOUNCES ITS INTENTION TO REPURCHASE
UP TO 1,000,000 SHARES OF ITS OWN STOCK
White Plains, New York , October 21, 1999 ... Drew Industries Incorporated
(AMEX: DW) announced today that its Board of Directors authorized the repurchase
of up to 1,000,000 shares of the Company's Common Stock, representing
approximately 9% of the currently outstanding 11.4 million shares. The purchases
will be made from time to time in the open market or in privately negotiated
transactions during the next twelve months at market prices prevailing at the
time of purchase, with particular attention given to block purchases of 20,000
shares or more. Certain Directors and officers may also buy shares of the
Company's common stock for their own accounts.
The Company has no commitment or obligation to purchase any minimum number
of shares, and actual purchases will depend upon market conditions. The
repurchase program may be discontinued or suspended at any time.
Funds for purchases will be generated from operations or borrowed under
the Company's existing line of credit. Any stock repurchased will be held as
authorized but unissued treasury shares, and will be used to meet the Company's
requirements for its stock-based benefit plans and for general corporate
purposes.
Leigh J. Abrams, President and Chief Executive Officer of Drew said, "This
authorization reflects our belief that the repurchase of our Common Stock is
currently the best use of the Company's resources. Any decision to repurchase
shares will be based on our view from time to time of market conditions and
alternative uses for the Company's capital. The stock repurchase plan will not
interfere with the Company's ability to undertake future projects."
[GRAPHIC OMITTED]
