SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and
Exchange Act of 1934
Date of Report (date of earliest event reported) January 31, 1996
RAYTECH CORPORATION
DELAWARE 1-9298 06-1182033
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File No.) Identification No.)
Incorporation)
One Corporate Drive, Shelton, Connecticut 06484
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 203-925-8023
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Item 2. Acquisition of Stock
On January 31, 1996, Raytech Composites, Inc., a subsidiary
of the Registrant, acquired a minority share of 47% of the stock
of Advanced Friction Materials Company located in Sterling
Heights Michigan, from Oscar E. Stefanutti and related family
trusts. Consideration for the stock transaction was $9,400,000
taken from cash reserves based upon a principle of current value
related to synergies of the business, coupled with projected
earnings. Raybestos Products Company, the operating subsidiary
of Raytech Composites, Inc., simultaneously entered into a
technology exchange agreement with Advanced Friction Materials
Company and agreed to purchase certain operating assets and real
property both on the closing and on the first anniversary date at
a combined purchase price of $10,600,000 cash to be adjusted in
part by an evaluation of certain current assets.
Advanced Friction Materials Company, the majority ownership
of which remains in Oscar E. Stefanutti and related family
trusts, is engaged and will continue in the development,
engineering and sales of automobile transmission component parts,
including friction plates, bands and friction materials for
torque converters, to original equipment manufacturers.
It is impractical to provide the financial statements for
the acquired business and the pro forma financial information
required to be filed herewith. Accordingly, such financial
statements and pro forma financial information will be filed as
an amendment as soon as practical, but in no event later than
sixty days after this report on Form 8-K must be filed, or
April 15, 1996.
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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 thereto duly authorized.
RAYTECH CORPORATION
By: /s/LEGRANDE L. YOUNG
LeGrande L. Young
Vice President, Secretary
and General Counsel
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