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: June 21, 1995
AMSTAR CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State of Incorporation)
13-3382652
(I.R.S. Employer Identification No.)
Long Wharf Maritime Center
555 Long Wharf Drive, Suite 12
New Haven, CT 06511
(Address of principal executive offices)
(203) 777-2274
(Registrant's telephone number)
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ITEM 5. Other Events
The Registrant issued the following press release on June
21, 1995:
"NEW HAVEN, CONNECTICUT, June 21, 1995.......Amstar
Corporation announced today that its parent corporation, ESSTAR
Incorporated, and the principal stockholders of ESSTAR, have
entered into a definitive agreement with a U.S. subsidiary of Atlas
Copco AB, of Stockholm, Sweden, for the sale of the stock of
ESSTAR, Amstar and Milwaukee Electric Tool Corporation, a
subsidiary of Amstar, to the Atlas Copco subsidiary, for
approximately $550 million, subject to certain adjustments. The
agreement provides that Amstar's outstanding 11.375% Senior
Subordinated Notes due 1997 will be defeased at 101.3% of their
principal amount, plus accrued interest, approximately 30 days
after the closing of the transaction. The closing is expected to
occur in July 1995.
"Milwaukee Electric Tool Corporation is a leading
manufacturer and distributor of heavy-duty portable electric power
tools. Atlas Copco is an international industrial company with
world wide manufacturing and marketing operations for various
industrial products, including portable electric power tools.
"On June 30, 1989, through an exchange of stock by
Amstar's shareholders, Amstar became a wholly owned subsidiary of
ESSTAR, a corporation organized under the direction of Merrill
Lynch Capital Partners. Affiliates of Merrill Lynch Capital
Partners hold a majority of the voting power of ESSTAR.
"ESSTAR subsidiaries engaged in the manufacture and
distribution of architectural hardware and related products - the
ESSEX companies - will be divested from ESSTAR in the transaction.
Merrill Lynch Capital Partners will retain a controlling interest
in the ESSEX companies following the closing."
SIGNATURE
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.
AMSTAR CORPORATION
By:/s/ Kenneth J. Jones
Kenneth J. Jones
Secretary
Dated: June 23, 1995
