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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report December 11, 1998
CVD EQUIPMENT CORPORATION
(Exact name of registrant as specified in charter)
Commission File No. 2-97210-NY
New York 11-2621692
(State of incorporation) (IRS Employer Identification No.)
1881 Lakeland Avenue, Ronkonkoma, New York 11779
(Address of principal executive offices)
516-981-7081
(Registrant's telephone number)
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ACQUISTION OF ASSETS
On December 11, 1998, CVD Equipment Corporation purchased at public auction
100% of the former inventory of Stainless Design Corporation, Saugerties, NY,
for $114,400. The auction held by Fox & Associates, Virginia Beach, VA, was
for the benefit of Fleet Bank.
On December 14, 1998, CVD Equipment Corporation purchased at public auction
some of the former tangible assets of Stainless Design Corporation, Saugerties,
NY, for $7,695. The auction held by Fox & Associates, Virginia Beach, VA, was
for the benefit of Fleet Bank.
On December 14, 1998, CVD Equipment Corporation entered into a contract
with Kidco Realty Corp. to purchase the facility owned by Kidco Realty Corp.
and formerly occupied by Stainless Design Corporation, 1117 Old Kings Highway,
Saugerties, NY 12477. Some significant items in the purchase contract are:
o Leasing of the facility for $5,250. per month until contract closing which
is expected to take place during the first quarter of 1999.
o A purchase price of $1,400,000. for the 22,000 square foot facility,
situated on 5 acres of land.
o The purchase price will be paid for at time of closing by cash funds from
CVD Equipment Corporation in the amount of $500,000. and Kidco Realty
Corp. issuing a 30 year amortization, 7% interest, 10 year balloon,
non recourse purchase money note and mortgage to CVD Equipment
Corporation in the amount of $900,000.
On December 15, 1998, CVD Equipment Corporation purchased at public auction
the remainder of the former tangible assets and 100% of the former intangible
assets of Stainless Design Corporation, Saugerties, NY, for $550,000. The
auction held by Fox & Associates, Virginia Beach, VA, was for the benefit of
Fleet Bank.
On December 17, 1998, CVD Equipment Corporation issued via PR Newswire the
attached press release (Exhibit A).
On December 23, 1998 CVD Equipment Corporation formed a new 100% owned
subsidiary called Stainless Design Concepts, Ltd.. The new subsidiary is
located at 1117 Old Kings Highway, Saugerties, NY 12477.
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, this 22ND day of February, 1999.
CVD EQUIPMENT CORPORATION
By /s/ Leonard A. Rosenbaum
Leonard A. Rosenbaum
President
Chief Executive Officer
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12/17/98 9:00 CVD Equipment Corporation Purchases the Assets of
Stainless Design Corporation (SDC).
Ronkonkoma, NY - Dec. 17, 1998 - CVD EQUIPMENT CORPORATION (CVD) has purchased
the tangible and intangible assets together with the intellectual property of
Stainless Design Corporation (SDC), Saugerties, NY. CVD is a manufacturer of
Chemical Vapor Deposition equipment for the semiconductor industry, while SDC
was a manufacturer of Ultra High Purity (UHP) gas and chemical delivery systems
for state-of-the-art semiconductor fabrication processes. It is expected
that UHP delivery systems will continue to be manufactured at the former SDC
facility. The addition of the former SDC facility gives CVD the ability to
manufacture in a state-of-the art location the new CVD production systems for
UHVCVD of Silicon-Germanium, Rapid Thermal Processing, Thermal Desorption
Spectroscopy and LPCVD of Oxide, Nitride and Polysilicon layers.
This public announcement may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, ad Section 21E
of the Securities Exchange Act of 1934, as amended. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical results or anticipated
results. Investors and potential investors should review carefully the
description of the risks and uncertainties which, together with other detailed
information about CVD Equipment Corporation, is contained in the periodic
reports that CVD files from time to time with Securities and Exchange
Commission.
The risks and uncertainties include, but are not limited to: the ability to
successfully integrate the acquired assets and facility into CVD Equipment
Corporation; CVD's dependence upon the ability to attract and retain qualified
personnel; competition and technological changes in both CVD and the former SDC
businesses; the company's dependence upon proprietary technology and the
potential need for additional financing.
For further information Contact:
CVD Equipment Corporation
Karen Hamberg, Phone: 516-981-7081,
Fax: 516-981-7095 or email: [email protected]
