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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.____________)*
Ladish Co., Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, par value $0.01
- --------------------------------------------------------------------------------
(Title of Class of Securities)
50574200
- --------------------------------------------------------------------------------
(CUSIP Number)
Pamela B. Johnson, Esq,. P.O. Box 5041, Thousand Oaks, CA 91359; (818) 597-3754
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
5/24/99
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement of Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhbits. See Section 240.13d-7 for other
parties to whom copies are to be sent
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
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 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
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CUSIP NO. 505754200 13D Page 2 OF 13
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Employees' Retirement Plan of Consolidated Electrical Distributors, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 457,500
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 457,500
WITH --------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
457,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.29%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 505754200 13D Page 3 OF 13
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Employees' Retirement Plan of Hajoca Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Pennsylvania
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 150,000
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 150,000
WITH --------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
150,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.08%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 505754200 13D Page 4 OF 13
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Employees' Retirement Plan of Rolled Alloys, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Michigan
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 100,000
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 100,000
WITH --------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.72%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 505754200 13D Page 5 OF 13
INTRODUCTION
The Employees' Retirement Plan of Consolidated Electrical Distributors, Inc.
("CED Pension Plan"), a California trust, which is a defined benefit plan with
the meaning of the Employee Retirement Income Security Act of 1974 ("ERISA"),
hereby files this Statement on Schedule 13D (the "Statement") on behalf of the
Reporting Persons identified in Item 2 below pursuant to the Agreement With
Respect to Schedule 13D attached hereto as Exhibit 7(1).
Item 1: Security and Issuer.
-------------------
The class of equity securities to which this Statement relates is the common
stock, $0.01 par value (the "Common Stock"), of Ladish Co., Inc. (the "Issuer"),
a corporation incorporated under the laws of Wisconsin, whose principal
executive offices are located at 5481 S. Packard Ave., Cudahy, Wisconsin 53110.
Item 2: Identity and Background.
-----------------------
This Statement is filed by the CED Pension Plan, on behalf of itself
and the Employees' Retirement Plan of Hajoca Corporation, a defined benefit plan
("Hajoca Pension Plan"), and Employees' Retirement Plan of Rolled Alloys, Inc.,
a defined benefit plan ("Rolled Alloys Pension Plan").
a. CED Pension Plan (Filing Person and Reporting Person).
The principal executive Offices of CED Pension Plan are
located at 700 S. Flower Street, Los Angeles, California
90071, c/o BNY Western Trust Company. CED Pension Plan is a
defined plan within the meaning of the Employee Retirement
Income Security Act of 1974
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CUSIP NO. 505754200 13D Page 6 OF 13
("ERISA"). CED Pension Plan is organized as a trust under the
laws of California.
b. Hajoca Pension Plan (Reporting Person).
The principal executive offices of Hajoca Pension Plan are
located at Bryn Mawr Trust Company, 10 South Bryn Mawr Avenue,
Bryn Mawr, PA 19010-3396. Hajoca Pension Plan is a defined
benefit plan within the meaning of ERISA. Hajoca Pension Plan
is organized as a trust under the laws of Pennsylvania.
c. Rolled Alloys Pension Plan.
The principal executive offices of Rolled Alloys Pension Plan
are located at Comerica Bank, 411 West LaFayette, 4th Floor,
Detroit, MI 48226. Rolled Alloys Pension Plan is a defined
benefit plan within the meaning of ERISA. Rolled Alloys
Benefit Plan is organized as a trust under the laws of
Michigan.
During the last five years none of the Reporting Persons, nor any of
their individual directors or executive officers, has been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) nor
have any of such persons been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which such person
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, Federal or
State securities laws or finding any violation with respect to such laws.
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CUSIP NO. 505754200 13D Page 7 OF 13
Item 3: Source and Amount of Funds or Other Consideration.
-------------------------------------------------
Between April 26, 1999 and May 24, 1999, the Reporting Persons
purchased, in a series of broker-assisted purchases on the open market, 707,500
shares of the Issuer's Common Stock. The total funds required to complete the
purchases was $5,521,470 (inclusive of broker commissions). All funds were
obtained from working capital of the Reporting Persons. A table identifying each
purchase is included in Item 5(2).
Item 4: Purpose of Transaction.
----------------------
The Reporting Persons acquired the shares of the Common Stock reported
herein for investment purposes. Consistent with such purposes, the Reporting
Persons expect to have discussions with management and other shareholders of the
Issuer concerning various operational and financial aspects of the Issuer's
business. The Reporting Persons may, in the future, also have discussions with
management, directors and other shareholders of the Issuer concerning various
ways of maximizing long-term shareholder value.
Depending on the market conditions and other factors that each of the
Reporting Persons may deem material to its investment decision, each Reporting
Person may purchase additional shares of the Common Stock in the open market or
in private transactions. Depending on these same factors, any Reporting Person
may sell all or a portion of the shares of the Common Stock that it now owns or
hereafter may acquire on the open market or in private transactions.
Item 5: Interest in Securities of the Issuer.
------------------------------------
(a) and (b) The aggregate number of shares and percentage of
Common Stock of the Issuer (based on the Issuer's
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CUSIP NO. 505754200 13D Page 8 OF 13
report of Form 10Q that it had 13,906,049 shares of Common
Stock outstanding as of March 31, 1999) beneficially owned by
each person named in Item 2, as well as the number of shares
of Common Stock as to which such person is deemed to have sole
power to vote or to direct the vote, shared power to vote or
to direct the vote, sole power to dispose or to direct the
disposition, or shared power to dispose or direct the
disposition is set forth in the following table.
Reporting Person No. of Percentage Power to Vote Power to Dispose
Shares of Class Shared Sole Shared Sole
Benef.
Owned
- --------------------------------------------------------------------------------
CED Pension Plan 457,500 3.29% 457,500 457,500
- --------------------------------------------------------------------------------
Hajoca Pension
Plan 150,000 1.08% 150,000 150,000
- --------------------------------------------------------------------------------
Rolled Alloys
Pension Plan 100,000 0.72% 100,000 100,000
- --------------------------------------------------------------------------------
The information required by Item 5 with respect to persons with whom voting or
dispositive power is shared is set forth in Item 2.
(c) To the best knowledge of the Reporting Persons, no person
described in paragraph (a) of this Item 5 has effected any
transaction in the Common Stock of the Issuer during the past
60 days other than as set forth in the table below:
<PAGE>
CUSIP NO. 505754200 13D Page 9 OF 13
Date Purchaser # Shares Price Comm'n Total Funds Required
- ---- --------- -------- ----- ------ --------------------
4/26/99 CED Pension
Plan 25,000 $6.8100 $1,500 $ 171,750
- --------------------------------------------------------------------------------
4/28/99 CED Pension
Plan 10,000 $6.6850 $ 600 $ 67,450
- --------------------------------------------------------------------------------
4/29/99 CED Pension
Plan 10,000 $6.8100 $ 600 $ 68,700
- --------------------------------------------------------------------------------
4/29/99 CED Pension
Plan 31,800 $7.5965 $1,908 $ 243,658
- --------------------------------------------------------------------------------
4/30/99 CED Pension
Plan 5,000 $6.7474 $ 300 $ 34,037
- --------------------------------------------------------------------------------
4/30/99 CED Pension
Plan 8,200 $6.8100 $ 492 $ 56,334
- --------------------------------------------------------------------------------
5/3/99 CED Pension
Plan 47,500 $6.8725 $2,850 $ 359,294
- --------------------------------------------------------------------------------
5/4/99 CED Pension
Plan 60,000 $6.8725 $3,600 $ 415,950
- --------------------------------------------------------------------------------
5/14/99 CED Pension
Plan 15,000 $7.5600 $ 900 $ 114,300
- --------------------------------------------------------------------------------
5/24/99 CED Pension
Plan 245,000 $8.0306 $7,350 $1,974,847
- --------------------------------------------------------------------------------
5/24/99 Hajoca
Pension Plan 150,000 $8.0306 $4,500 $1,209,090
- --------------------------------------------------------------------------------
5/24/99 Rolled
Alloys
Pension Plan 100,000 $8.0306 $3,000 $ 806,060
- --------------------------------------------------------------------------------
TOTAL 707,500 $5,521,470
------- ----------
(d) To the best knowledge of the Reporting Persons, no person
other than the Reporting Persons and their equity owners has
the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the Common
Stock of Issuer.
(e) Not applicable.
Item 6: Contracts, Arrangements, Understandings or Relationships with
-------------------------------------------------------------
Respect to Securities of the Issuer.
-----------------------------------
CED Pension Plan, Hajoca Pension Plan and Rolled Alloys Pension Plan do
not have shared voting or dispositive power; however, for purposes of this
Schedule 13D, they may be under common control.
A committee makes investment decisions for CED Pension Plan. Any two
members of such committee can make decisions for
<PAGE>
CUSIP NO. 505754200 13D Page 10 OF 13
CED Pension Plan. A committee makes investment decisions for Hajoca Pension
Plan. Any two members of such committee can make decisions for Hajoca Pension
Plan. A committee makes investment decisions for Rolled Alloys Pension Plan. Any
two members of such committee can make decisions for Rolled Alloys Pension Plan.
The three pension plans have members in common.
The members of the committees of each pension plan have no agreement or
understanding of any kind among each other regarding the holding, voting or
disposition of the Common Stock. Such individuals did, however, collectively
cause the Reporting Persons to acquire the shares of Common Stock that are the
subject of this Statement. Given the overlaps between the individuals involved
in investment decisions for the pension plans, it is likely that these
individuals may cause the Reporting Persons to act in concert regarding such
actions in the future. As such, the Reporting Person, although disclaiming
membership in a group, have nonetheless filed this Statement on Schedule 13D.
Item 7: Material to be Filed as Exhibits.
--------------------------------
Exhibit 7(1). Agreement with Respect to Schedule 13D.
<PAGE>
CUSIP NO. 505754200 13D Page 11 OF 13
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: June 15, 1999
Employees' Retirement Plan of
Consolidated Electrical
Distributors, Inc.
By: /s/ Thomas A. Lullo
-----------------------------
Thomas A. Lullo, on behalf and
as a member of the Retirement
Committee of Consolidated
Electrical Distributors, Inc.
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CUSIP NO. 505754200 13D Page 12 OF 13
LIST OF EXHIBITS
----------------
Exhibit No. Description Page
- ----------- ----------- ----
7(1) Agreement with Respect to
Schedule 13D.
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CUSIP NO. 505754200 13D Page 13 OF 13
EXHIBIT 7(1)
AGREEMENT WITH RESPECT TO SCHEDULE 13D
The undersigned hereby agree that any Statement on Schedule 13D to be
filed with the Securities and Exchange Commission by any of the undersigned,
including any amendment thereto, with respect to securities of Ladish Co., Inc.,
a Wisconsin corporation, may be filed by Employees' Retirement Plan of
Consolidated Electrical Distributors, Inc., on behalf of all of the undersigned.
IN WITNESS WHEREOF, the undersigned have caused this Agreement to be
executed in counterparts by their duly authorized signatories as of this 22 day
of June, 1999.
Employees' Retirement Plan of
Consolidated Electrical
Distributors, Inc.
By: /s/ Thomas A. Lullo
------------------------
Thomas A. Lullo, on behalf and
as a member of the Retirement
Committee of Consolidated
Electrical Distributors, Inc.
Employees' Retirement Plan of
Hajoca Corporation
By: /s/ Keith W. Colburn
--------------------
Keith W. Colburn, on behalf and
as a member of the Retirement
Committee of Hajoca Corporation
Employees' Retirement Plan of
Rolled Alloys, Inc.
By: /s/ Keith W. Colburn
--------------------
Keith W. Colburn, on behalf and
as a member of the Retirement
Committee of Rolled Alloys, Inc.
