UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): March 3, 1999
TAPISTRON INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Georgia 0-20309 58-1684918
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
6203 Alabama Highway; Ringgold, Georgia 30736-1067
(Address of principal executive offices) (Zip Code)
(706) 965-9300
(Registrant's telephone number, including area code)
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Item 5. Other Events
See the following press release, dated March 3, 1999 announcing the death
of President J. Darwin Poe and the election of Rodney C. Hardeman, Jr. as
successor.
FOR IMMEDIATE RELEASE
Contacts:
Floyd S. Koegler, Jr.
Solomon Douhne
Telephone: (706) 965-9300
Fax: (706) 965-9310
Email: [email protected]
March 3, 1999
TAPISTRON ANNOUNCES THE UNTIMELY DEATH OF PRESIDENT J. DARWIN POE, THE ELECTION
OF RODNEY C. HARDEMAN AS SUCCESSOR
RINGGOLD, GEORGIA -- Tapistron International, Inc. (OTCBB SYMBOLS: TAPI/TAPIW)
Tapistron International, Inc. announced the sudden and unexpected death
of President J. Darwin Poe, who died at his home Saturday, February 27th. Mr.
Poe had served as President and Chief Executive Officer of Tapistron since July
1995, when he was brought in to turn the Company around. Mr. Poe successfully
led the Company through its Chapter 11 reorganization, and its recapitalization,
while at the same time improving product service and revitalizing the Company's
marketing effort.
"Darwin will be missed as a leader, a consensus builder, and a person who
brought out the best in all those around him," said Chairman of the Board, Reg
Burnett. He had great contacts throughout the textile industry, and he was
instrumental in rebuilding the Tapistron team. "While Darwin's death is a shock,
and we will miss him terribly, the foundation that he has laid for the Company
will serve it well. We have the people, the product, and the customer service to
make this year the breakout year that Darwin predicted."
A special Board meeting was called Tuesday, March 2, 1999, and the
election of Mr. Rodney C. Hardeman as President of Tapistron was confirmed. Mr.
Hardeman has over twenty-five years of sales and marketing experience within the
carpet industry, and has served as a Director of the Company since January 1998,
and Executive Vice President of Sales and Marketing at Tapistron since August
1998.
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"Rod is Darwin's hand picked successor, and no one is better positioned
to continue the course that Darwin laid out," said Reg Burnett. "Darwin's
leadership allowed Tapistron to weather a very difficult period, and his calm
guidance and confidence was a steadying influence as the Company regained sales
momentum. Rod Hardeman is the leader to capitalize on the momentum won for the
Company by Darwin."
The Board of Directors' meeting will be held March 18, 1999, at which
time a new director for the board will be proposed for election to fulfill the
vacancy created by Mr. Poe's untimely death. If election is confirmed
announcement will follow immediately.
Tapistron manufactures the most efficient tufting machine for patterned
carpet in the industry. Its CYP (computer yarn placement) machine is the
industry standard and is sold throughout the world.
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.
Tapistron International, Inc.
(Registrant)
March 3, 1999 By /s/ Rodney C. Hardeman, Jr.
---------------------------
Rodney C. Hardeman, Jr.
President and Chief Executive Officer
