SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: February 17, 1998
COACHMAN INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
1-9593 73-1244422
Commission File Number) (I.R.S. Employer Identification No.)
301 NW 63rd ST., STE. 500 OKLAHOMA CITY, OK 73116
(Address of Principal Executive Offices) (Zip Code)
(405) 840-4667
(Registrant's Telephone Number, Including Area Code)
NONE
(Former Name or Former Address, if Changed since Last Report)
Item 5. Other Events.
Acquisition
On December 2, 1997: Olympic Mills Corporation, Coachman Incorporated's
subsidiary, purchased the textile machinery and equipment, cut and sew
machinery and equipment, electronic embroidery equipment and certain other
assets of the Phillip Van Heusen Corporation, located in Barranquitas,
Puerto Rico. Although reporting of this acquisition was not required, due
to size, management felt that is was important to the understanding of the
corporation's current and future business strategy of vertically integrating
within the textile and apparel business.
The assets were purchased from the Phillip Van Heusen Corporation and
Phillip Van Heusen Puerto Rico LLC., which are not affiliated with the
Corporation, by Barranquitas Manufacturing, Inc., a newly formed subsidiary
of Olympic Mills Corporaton. The price was determined through arms length
negotiation. The purchase price was $512,000. to be paid in one year by
discounting an amount per unit of sweaters to be sold to the sellers. The
government of Puerto Rico also provided certain financial incentives to the
purchaser.
The assets purchased had been used and will continue to be used in the
manufacture of sweaters. The assets acquisition fits into Olympic Mills
Corporation's plan to expand vertically in the textile and apparel business.
Most of the employees will be retained by the purchaser.
SIGNATURES
FORM 8-K
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.
COACHMAN INCORPORATED
(Registrant)
February 17, 1998 By: /s/Dennis D. Bradford
Dennis D. Bradford
Chief Executive Officer
