United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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) October 29, 1997
Discas, Inc.
(Exact name of registrant as specified in its charter)
001-13207
Delaware 000-22827 06-1175400
State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
567-1 South Leonard Street, Waterbury, CT 06708
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 753-5147
(Former name or former address, if changed since last report.)
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FORM 8-K
DISCAS, INC.
Item 2. Acquisition or Disposition of Assets
On October 29, 1997, the Company acquired the operating assets of the
AKD division of Ash-Kourt Fabrics, Inc. AKD was a processor of recycled
polypropylene and a supplier of raw material to the Company. The Company plans
to establish a manufacturing and distribution facility in Statesville, North
Carolina.
A press release relating to this development is filed herewith as an
exhibit and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits
(99) Additional Exhibits
(a) Press release of the registrant dated October 30, 1997.
<PAGE>
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.
DISCAS, INC.
(Registrant)
By /s/ Ronald P. Pettirossi
Name: Ronald P. Pettirossi
Title: Chief Financial Officer
Date: November 4, 1997
DISCAS ANNOUNCES ASSET PURCHASE
AND ESTABLISHMENT OF NEW FACILITY
WATERBURY, CT, October 30, 1997 -- Discas, Inc. (NASDAQ: DSCS) today
announced that it has purchased the assets of the AKD division of Ash-Kourt
Fabrics, Inc. and will be establishing a manufacturing operation in Statesville,
North Carolina. AKD was a processor of recycled polypropylene, supplying Discas
with raw materials.
In conjunction with this purchase, Discas entered into a long term
lease for a 32,500 square foot manufacturing and distribution facility within a
mile of Ash-Kourt's fabric conversion plant.
Patrick A. DePaolo, Chairman and CEO of Discas, stated "The acquisition
is consistent with Discas' vertical integration consolidation strategy. A long
term supply agreement has been signed by the two companies whereby Ash-Kourt
will continue to supply Discas with polypropylene feed stock."
Mr. Tom Tomaszek, Vice President of Sales and Business Development for
Discas, stated "With the establishment of the Discas Southeast plant, Discas
will be positioned to increase its margins and customer base through lower raw
material costs and substantially reduced transportation costs. We believe that
this strategic expansion will allow Discas access to an abundant supply of low
cost polypropylene from the textile, film, and fiber industries that are
concentrated in this region." According to Tomaszek, "Discas Southeast will also
be used as a manufacturing and distribution facility for Christie Products,
Discas' agricultural container product line, which has numerous customers in the
south."
Earlier this week, Discas announced an expansion of its Christie
Products subsidiary by signing a definitive agreement to purchase the nursery
container product line from Union Products, Inc.
Discas, Inc. is headquartered in Waterbury, Connecticut and has
production facilities in Connecticut and New Jersey. The Company is a vertically
integrated producer of proprietary plastic and rubber compounds and fabricated
commercial products using a variety of prime materials. The Company has
extensive expertise in polymer technology, and has commercialized proprietary
formulations used in the footwear, aeronautic, military, automotive an consumer
products sectors. The common stock and warrants of the Company are traded in the
NASDAQ SmallCap Market under the symbols DSCS and DSCSW and on the Boston Stock
Exchange under the symbols DSS and DSSW.
Contacts: Ron Pettirossi, Chief Financial Officer, Discas (203) 753-5147
Mark N. Tyler, T.T. Communications (212) 962-3690
