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): March 23, 1998
----------
PRECISION STANDARD, INC.
(Exact name of registrant as specified in its charter)
----------
Colorado 0-13829 84-0985295
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction) Identification No.)
1225 17th Street, Suite 1800
Denver, Colorado 80202
(Address of principal executive offices)
Registrant's telephone number, including area code: (303) 292-6565
<PAGE>
ITEM 5 - OTHER EVENTS.
See the Registrant's press release, labeled Attachment A, attached hereto
and incorporated by reference to this report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Denver, State of
Colorado, on March 26, 1998.
PRECISION STANDARD, INC.
By:/s/Matthew L. Gold
Matthew L. Gold
President
ATTACHMENT A
PCSNC
PRECISION STANDARD INC.
FOR IMMEDIATE RELEASE CONTACT: DARRYL MAZOW
MONDAY, MARCH 23, 1998 PHONE: 303.292-6565
PRECISION STANDARD, INC.
RETAINS HOULIHAN, LOKEY, HOWARD & ZUKIN
Denver, Colorado -- March 23, 1998 -- Matthew L. Gold, President and
C.E.O. of Precision Standard, Inc. announced today that the Company has
retained the services of Houlihan, Lokey, Howard & Zukin, an investment
banking firm, to explore a variety of strategic alternatives to enhance
shareholder value. Mr. Gold stated that all alternatives will be examined
including the possible sale of one or more operating units.
Precision Standard, with executive offices in Denver, Colorado, and
facilities in Alabama, California and Florida performs maintenance and
modification services of aircraft for the U.S. Government and foreign and
domestic commercial customers. The Company also provides aircraft parts
and support services and full service overhaul and repair for a wide range
of engine nacelle-related needs. It also develops and manufactures
aircraft cargo systems, rocket vehicles and control systems and precision
springs and components.
PCSNC
PRECISION STANDARD, INC.
1225 17th Street, Suite 1800, Denver, CO 80202 U.S.A. (303) 292-6565, FAX
(303) 292-6611
