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: April 15, 1996
THE INTERLAKE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware Commission File Number 1-9149 36-3428543
(State or other jurisdiction of (I.R.S.
incorporation or organization) Employer
Identification
No.)
550 Warrenville Road, Lisle, Illinois 60532-4387
(Address of principal executive offices) (Zip Code)
(708)852-8800
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events.
The Interlake Corporation today announced that it had signed a letter of
intent for the sale and purchase of all of Interlake's packaging businesses.
The sale is subject to various conditions. The press release by which The
Interlake Corporation made the announcement is attached as Exhibit 99.1.
Item 7. Exhibits
The following Exhibit is filed herewith and made part hereof:
Exhibit
Number Description of Document
99.1 Press Release dated April 15, 1996
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.
THE INTERLAKE CORPORATION
By______________________________
W. Robert Reum
Chairman, President and Chief Executive
Officer
<PAGE>
Exhibit 99.1
[LOGO - The Interlake Corporation] [LOGO - A. J. Gerrard & Company]
FOR IMMEDIATE RELEASE
INTERLAKE TO SELL PACKAGING BUSINESSES TO A. J. GERRARD
Lisle, Ill., April 15, 1996 -- A. J. Gerrard & Company ("Gerrard") and
The Interlake Corporation ("Interlake") today jointly announced that they
had signed a letter of intent for the sale and purchase of all of
Interlake's packaging businesses.
The sale and acquisition is subject to the signing of definitive
purchase agreements, the obtaining by Gerrard of firm financing commitments,
the completion of governmental approval processes, approval by Gerrard
shareholders, and the approval of certain other third parties, including
Interlake's bank group.
Gerrard, headquartered in Des Plaines, Illinois, manufactures and sells
steel strap in the U.S.
Interlake's packaging businesses had sales of $141 million in 1995.
The businesses include plastic strapping and stitching businesses in the
U.S., steel strapping businesses in Canada and England, and a plastic
strapping business in England.
Interlake, headquartered in Lisle, Illinois, had total 1995 sales of
$831 million. Interlake is a multinational corporation engaged in the
design, manufacture and sale or distribution of products for the material
handling, automotive, packaging and aerospace industries.
Tony Tako, chairman, president and CEO of Gerrard, said, "This
acquisition will complement our existing businesses and significantly expand
Gerrard's presence in the strapping business beyond steel into plastic, and
beyond the U.S. into Canada and Europe. This transaction presents a major
growth opportunity for Gerrard."
W. Robert Reum, Interlake's chairman, president and CEO, said, "Gerrard
initially approached Interlake regarding a possible combination of our
packaging businesses through a joint venture. As the talks progressed, it
became clear, in light of Interlake's capital structure, that an outright
sale made more sense for Interlake. This transaction will enable Interlake
to pay down debt and to focus its resources on the continued growth and
improved performance of its remaining businesses, several of which enjoyed
record operating earnings in 1995."
Interlake and Gerrard expect the transaction to close by July.
# # #
Media contacts:
Tony Tako, A. J. Gerrard & Company, 847-299-8000
Bruce Steimle, The Interlake Corporation, 708-719-7225
