SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report:
June 2, 1995
AIR & WATER TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 033-17921 13-3418759
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File No.) Identification No.)
P.O. Box 1500
Somerville, New Jersey 08876
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 685-4000
______________________________________________________________
(Former name or former address, if changed since last report.)
Item 5. Other Events.
Metcalf & Eddy, Inc. (M&E), a wholly-owned subsidiary of the Company,
has settled its litigation with the Puerto Rico Aqueduct and Sewer Authority
(PRASA). Pursuant to the terms of the settlement, M&E will receive an
aggregate of $17.5 million. It is anticipated that M&E will receive $4.5
million not later than June 26, 1995. M&E will also receive negotiable market
rate interest-bearing promissory notes providing for a payment of $6.5 million
in May 1998 and an additional $6.5 million in August 2000. The payment
obligations of PRASA under the settlement agreement and the negotiable
promissory notes are guaranteed by the Government Development Bank of Puerto
Rico.
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 thereunto duly authorized.
Air & Water Technologies
Corporation
By /s/ Douglas A. Satzger
____________________________
Name: Douglas A. Satzger
Title: Senior Vice President
June 2, 1995
