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) December 5, 1995
Commission File Number 0-14973
UNICO, INC.
(Exact name of registrant as specified in its charter)
New Mexico 85-0270072
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1921 Bloomfield Blvd., Farmington, New Mexico 87401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (505) 326-2668
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ITEM 5. OTHER EVENTS
(a) With respect to the legal proceeding reported under Item 3(a) of Form 10-K
filed by The Registrant on May 26, 1995, Sand Creek Chemical Ltd., a
partnership of which the Registrant, through one of it's subsidiaries, is
the Managing General Partner, has executed a settlement agreement with CDK
Contracting Inc., etal, regarding all filed and pending claims in connection
with the matter. Under the Agreement, which was executed on December 5, 1995,
all pending legal actions and claims by all parties to the litigation have
been withdrawn. Specific details of the Agreement are confidential and
accordingly, a copy of the Agreement will not be filed as part of this
Form 8-K.
The proceeds of the settlement will be used by SCCLP to retire all outstanding
term debt and accrued attorney fees due to GECC in accordance with the various
operative agreements between SCCLP and GECC. In addition, cash distributions
will be made to individual partners for income tax liabilities which will arise
as a result of the settlement. Any remaining proceeds will be applied to
certain cash reserves and distributed in accordance with the various partnership
agreements with GECC. A full analysis of the impact, of the settlement and
distribution ofproceeds relative to the financial statements of the Registrant,
has not as yet been performed.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) No exhibits have been filed as part of this Form 8-k.
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.
UNICO, INC.
(Registrant)
Date: December 7, 1995
By Rick L. Hurt
Rick L. Hurt
Controller, Secretary,
Treasurer and Director
