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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) June 17, 1998
RADVA CORPORATION
(Exact name of registrant as specified in its charter)
Virginia 0-15464 54-0715892
(State of incorporation) (Commission File (I.R.S. Employer
Number) Identification No.)
P.O. Box 2900, Radford, VA 24143
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) 540-639-2458
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Item 2. Acquisition or Disposition of Assets
On June 8, 1998 the registrant received $1,250,000 as the initial
payment required by a contract for the sale of its THERMASTRUCTURE panel
operations and technology to EAC International, Inc. In addition to the
initial payment, the contract calls for the payment of $1,750,000 over a
thirty (30) month period and $3,200,000 based on earnings of EAC, with a
minimum annual payment of $50,000 beginning with the forty-second (42)
month after closing. RADVA also receives 5 percent of ThermaSteel
Corporation, the corporation formed in Virginia to hold the transferred
assets.
The assets transferred accounted for approximately 30 percent of RADVA's
consolidated assets as of March 31, 1998. The transfer gives EAC
domestic and international licensing rights, panel manufacturing
machinery, machine manufacturing operations, and interests in Russia,
Australia and Mexico, as well as in the USA.
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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 hereunto duly authorized.
RADVA CORPORATION
(Registrant)
/s/ WILLIAM FRY
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Dated: June 17, 1998 By: William Fry
Assistant Secretary/Treasurer
