<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
(AMENDMENT NO. 1)
IMPACT SYSTEMS, INC.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
452913 10 6
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(CUSIP Number)
Dennis R. DeBroeck
Fenwick & West LLP
Two Palo Alto Square
Palo Alto, CA 94306
(415) 494-0600
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December 11, 1997
January 16, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
*The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 (the "Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act.
Exhibit Index is on Page 7
(Page 1 of 8 Pages)
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SCHEDULE 13D
CUSIP No. 452913 10 6 PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Instituto per la Ricostruzions Industriale - IRI S.p.a.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
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7 SOLE VOTING POWER
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,378,900
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
2,378,900
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,378,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.80%
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14 TYPE OF REPORTING PERSON
HC
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SCHEDULE 13D
CUSIP No. 452913 10 6 PAGE 3 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Finmeccanica S.p.a.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
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7 SOLE VOTING POWER
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,378,900
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
2,378,900
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,378,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.80%
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14 TYPE OF REPORTING PERSON
HC
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SCHEDULE 13D
CUSIP No. 452913 10 6 PAGE 4 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Elsag Bailey Process Automation N.V.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
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7 SOLE VOTING POWER
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,378,900
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
2,378,900
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,378,900
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.80%
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14 TYPE OF REPORTING PERSON
HC
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SCHEDULE 13D
CUSIP No. 452913 10 6 PAGE 5 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Elsag International N.V.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
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7 SOLE VOTING POWER
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 2,378,900
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
2,378,900
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,378,900
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.80%
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14 TYPE OF REPORTING PERSON
HC
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SCHEDULE 13D
CUSIP No. 452913 10 6 PAGE 6 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Elsag Bailey, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON
CO
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<PAGE> 7
Page 7 of 8
This Amendment No. 1 to the Restated Schedule 13D filed December 19,
1997 (the "Restated Schedule 13D") is filed by Istituto per la Ricostruzione
Industriale - IRI S.p.A. ("IRI"), Finmeccanica S.p.A. ("Finmeccanica"), Elsag
Bailey Process Automation N.V. ("EBPA"), Elsag International N.V. (formerly
Elsag International B.V., "EINV") and Elsag Bailey, Inc. (successor to Bailey
Controls Company, "EBI") (collectively, the "Reporting Persons"), in connection
with the receipt of signatures from Finmeccanica and IRI on the Joint Filing
Agreement, attached hereto as Exhibit 1, and on the Restated Schedule 13D. This
Amendment No. 1 to the Schedule 13D amends the Restated Schedule 13D filed by
EBPA, EINV and EBI on December 19, 1997 with respect to EINV's shares of the
common stock, no par value ("Common Stock"), of Impact Systems, Inc., a
California corporation.
The sole purpose of this Amendment is to attach the powers of attorney
and the signatures of IRI and Finmeccanica to the Restated Schedule 13D and to
the Joint Filing Agreement.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1 Joint Filing Agreement, dated January 16, 1998, among the
Reporting Persons.
Exhibit 2 Power of Attorney appointing Alberto De Benedictis
attorney-in-fact of IRI.
Exhibit 3 Power of Attorney appointing Alberto De Benedictis
attorney-in-fact of Finmeccanica.
<PAGE> 8
Page 8 of 8
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: January 16, 1998
ELSAG BAILEY, INC.
/s/George W. Hawk, Jr.
-------------------------------------
George W. Hawk, Jr.
Assistant Secretary
ELSAG INTERNATIONAL N.V.
/s/George W. Hawk, Jr.
-------------------------------------
George W. Hawk, Jr.
Attorney-in-Fact
ELSAG BAILEY PROCESS AUTOMATION N.V.
/s/George W. Hawk, Jr.
-------------------------------------
George W. Hawk, Jr.
Attorney-in-Fact
FINMECCANICA S.P.A.
/s/Alberto De Benedictis
-------------------------------------
Alberto De Beneditctis
Attorney-in-Fact
ISTITUTO PER LA RICOSTRUZIONE
INDUSTRIALE - IRI S.P.A.
/s/Alberto De Benedictis
-------------------------------------
Alberto De Beneditctis
Attorney-in-Fact
<PAGE> 9
EXHIBIT 1
JOINT FILING AGREEMENT
----------------------
The undersigned hereby agree that the restated statement on Schedule
13D, dated December 17, 1997, with respect to the Common Stock of Impact
Systems, Inc. is, and any amendments thereto, signed by each of the undersigned
shall be, filed on behalf of each of us pursuant to and in accordance with the
provisions of Rule 13(d)-1(f) under the Securities and Exchange Act of 1934.
Date: January 16, 1998 ELSAG INTERNATIONAL N.V.
By: /s/George W. Hawk, Jr.
------------------------------------
Name: George W. Hawk, Jr.
----------------------------------
Title: Attorney-in-Fact
----------------------------------
ELSAG BAILEY, INC.
By: /s/George W. Hawk, Jr.
------------------------------------
Name: George W. Hawk, Jr.
----------------------------------
Title: Assistant Secretary
----------------------------------
FINMECCANICA S.p.A.
By: /s/Alberto De Benedictis
------------------------------------
Name: Alberto De Benedictis
----------------------------------
Title: Attorney-in-Fact
----------------------------------
ISTITUTO PER LA RICOSTRUZIONE
INDUSTRIALE - IRI S.p.A.
By: /s/Alberto De Benedictis
------------------------------------
Name: Alberto De Benedictis
----------------------------------
Title: Attorney-in-Fact
----------------------------------
ELSAG BAILEY PROCESS AUTOMATION N.V.
By: /s/George W. Hawk, Jr.
------------------------------------
Name: George W. Hawk, Jr.
----------------------------------
Title: Attorney-in-Fact
----------------------------------
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EXHIBIT 2
POWER OF ATTORNEY
KNOWN ALL MEN BY THESE PRESENTS:
ISTITUTO PER LA RICOSTRUZIONE INDUSTRIALE - IRI S.P.A., a corporation organized
and existing under the laws of Italy ("IRI"), does hereby make, constitute and
appoint each of Alberto De Benedictis, born in Rome, Italy on May 17, 1952, and
Alberto Rosania, born in Milan, Italy on October 30, 1938, both resident of
Rome, Italy with business addresses at Finmeccanica, Piazza Monte Grappa 4,
Rome, Italy, to be its true and lawful attorneys-in-fact for and in its name,
place and stead, acting singly, to execute and deliver on behalf of IRI certain
Schedule 13 D and 13G filings and amendments thereto and ancillary Joint Filing
Agreements and Forms 3, 4 and 5, to be filed with the U.S. Securities and
Exchange Commission and the Nasdaq Stock market with respect to Impact Systems,
Inc., or such filings, agreements or forms which may be required with respect to
the investment by IRI, indirectly through Finmeccanica, in the securities of
Impact Systems, Inc., and to execute and deliver to the Securities and Exchange
Commission and the Nasdaq Stock Market such other documents which any such
attorney-in-fact, acting singly, may deem necessary or advisable in connection
with the aforesaid.
This Power of Attorney shall expire on May 31, 1998.
IN WITNESS WHEREOF, ISTITUTO PER LA RICOSTRUZIONE INDUSTRIALE - IRI S.P.A. has
caused this Power of Attorney to be duly executed this 30th day of December,
1997.
ISTITUTO PER LA RICOSTRUZIONE INDUSTRIALE - - IRI S.P.A
BY: /s/Ezio Francesco Lepidi BY: /s/Fabrizio Antonini
----------------------------- -----------------------------
Name: EZIO FRANCESCO LEPIDI Name: FABRIZIO ANTONINI
Title: ADMINISTRATION MANAGER Title: GENERAL MANAGER, LEGAL
AND CORPORATE AFFAIRS
<PAGE> 11
EXHIBIT 3
POWER OF ATTORNEY
KNOWN ALL MEN BY THESE PRESENTS:
FINMECCANICA - SOCIETA PER AZIONI, a corporation organized and existing under
the laws of Italy ("Finmeccanica"), does hereby make, constitute and appoint
each of Alberto De Benedictis, born in Rome, Italy on May 17, 1952, and Alberto
Rosania, born in Milan, Italy on October 30, 1938, both resident of Rome, Italy
with business addresses at Finmeccanica, Piazza Monte Grappa 4, Rome, Italy, to
be its true and lawful attorneys-in-fact for and in its name, place and stead,
acting singly, to execute and deliver on behalf of Finmeccanica certain Schedule
13 D and 13G filings and amendments thereto and ancillary Joint Filing
Agreements and Forms 3, 4 and 5, to filed with the U.S. Securities and Exchange
Commission and the Nasdaq Stock market with respect to Impact Systems, Inc., or
such filings, agreements or forms which may be required with respect to the
investment by Finmeccanica in the securities of Impact Systems, Inc., and to
execute and deliver to the Securities and Exchange Commission and the Nasdaq
Stock Market such other documents which any such attorney-in-fact, acting
singly, may deem necessary or advisable in connection with the aforesaid.
This Power of Attorney shall expire on May 31, 1998.
IN WITNESS WHEREOF, FINMECCANICA - SOCIETA PER AZIONI, has caused this Power of
Attorney to be duly executed this 13th day of January, 1998.
FINMECCANICA - SOCIETA PER AZIONI
By: /s/Giuseppe Bono
-----------------------------------
Name: GIUSEPPE BONO
Title: CHIEF OPERATING OFFICER
