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: December 22, 1997
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. Employer
incorporation or organization) Identification No.)
550 Warrenville Road, Lisle, Illinois 60532-4387
(Address of principal executive offices) (Zip Code)
(630)852-8800
(Registrant's telephone number, including area code)
Item 5. Other Events.
The Interlake Corporation today announced the sale of its
European and Asia-Pacific material handling businesses. 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 December 22, 1997
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 /s/W. Robert Reum
W. Robert Reum
Chairman, President and
Chief Executive Officer
The Interlake Corporation
550 Warrenville Road
Lisle, IL 60532-4387
630/852-8800
FOR IMMEDIATE RELEASE - LISLE, IL. DECEMBER 22, 1997
For more information: Donn York, Treasurer
630/719-7247
INTERLAKE SELLS EUROPEAN AND ASIA-PACIFIC HANDLING BUSINESSES
Lisle, Illinois, December 22, 1997 -- The Interlake Corporation today
announced the sale of its European and Asia-Pacific material handling
businesses to Extondew Limited and Extonbrooks Limited. The purchasers
are English companies organized by Apax Partners & Co. Ventures Limited, a
leading UK based private equity company.
According to Stephen Gregory, Interlake's chief financial officer, net
after-tax proceeds from the sale should exceed $80 million. Mr. Gregory
indicated that the proceeds will be used to repay indebtedness, and to
finance substantial investment in the Hoeganaes special materials business.
Hoeganaes Corporation, an Interlake subsidiary, earlier this year announced
a planned $33.6 million expansion of its Gallatin, Tennessee powder metal
facility.
"This transaction enables Interlake to continue along the strategic path
of reducing debt and concentrating our resources in our strongest
businesses," said W. Robert Reum, chairman, president and chief executive
officer of Interlake. "We are excited about the growth opportunities at
Hoeganaes and Chem-tronics."
The sold material handling businesses trade under the Dexion and Redirack
names. Net revenues in 1996 totalled $260 million. Interlake will remain
in the material handling business through Interlake Material Handling, with
operations concentrated in North America.
The Interlake Corporation is engaged in the design, manufacture and sale
or distribution of products for the automotive, aerospace and material
handling industries.
