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:
April 4, 1996
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.
The Company has announced, with regret, the unexpected death of
Claudio Elia,Chairman and Chief Executive Officer. A copy of the press
release issued by the Company is attached hereto as Exhibit 99.1, which
exhibit is incorporated herein by reference.
Item 7. Exhibits.
99.1 Air & Water Technologies Corporation Press Release
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
April 4, 1996
Exhibit 99.1
Air & Water
Technologies Corporation Press Release
CONTACT: Bob Volland
Air & Water Technologies
(908) 685-4600
For Immediate Release
_____________________
AIR & WATER TECHNOLOGIES ANNOUNCES
INTERIM MANAGEMENT SUCCESSION PLAN
BRANCHBURG, New Jersey, April 4, 1996 - Air & Water Technologies
Corporation (AMEX:AWT), has announced an interim management succession plan in
the wake of the tragic death of its Chairman and Chief Executive Officer,
Claudio Elia. Mr. Elia was one of the business leaders accompanying U.S.
Commerce Secretary Ron Brown on the trade mission to Bosnia and Croatia that
ended yesterday in a devastating plane crash.
Mr. Elia was appointed Chairman and Chief Executive Officer by
Compagnie Generale des Eaux (CGE) in June, 1994. CGE, AWT's largest
shareholder. is the world's largest water/environmental company. Mr. Elia is
credited with "turning around" AWT through a series of sound management and
marketing decisions. Those decisions included establishing three strong
business units for AWT operations and forming a vital technology-sharing
organization between AWT and CGE.
CGE affirms its continuing commitment to AWT through the interim
appointment of two of their key executives. A permanent successor to Mr. Elia
will be named within a few months by AWT's Board of Directors. To that end, a
search for an American successor to Mr. Elia is the highest priority.
Jean-Dominique Deschamps, Executive Vice President of CGE and member
of its Executive Committee, will assume the role of Chairman of the Board of
AWT. Mr. Deschamps has been a strong supporter of AWT since 1990, when CGE
first invested in AWT. Mr. Deschamps has been an active member of the AWT
Board of Directors, serving not only as a key Board member but also a member
of the Executive and Compensation and Stock Option Committees.
Mr. Alain Houdaille will serve as AWT's Chief Executive Officer and
will be nominated to AWT's Board of Directors at its annual meeting to fill
the vacancy created by Mr. Elia's death. Mr. Houdaille, who has lived in the
United States and has extensive worldwide marketing experience, will work out
of the company's headquarters in Branchburg, N.J. Mr. Houdaille, CGE's
Executive Vice President of Marketing for its worldwide water and wastewater
businesses, has been intimately involved with AWT's strategic growth plan,
beginning in 1984 with CGE's investment in the AWT subsidiary, Professional
Services Group (PSG). PSG, which was acquired by AWT in 1994, is the nation's
leading provider of operations and maintenance services for environmental
treatment systems.
Messrs Deschamps and Houdaille will work closely with the strong
management team assembled by Mr. Elia to continue on the course he set.
CGE's appointment of two of its top executives with strong
backgrounds in environmental technology reflects its ongoing partnership with
AWT to deliver world-class environmental solutions to the North American
marketplace.
Air & Water Technologies Corporation, through its operating units -
Professional Services Group, Metcalf & Eddy and Research-Cottrell - provides a
broad range of environmental and productivity improvement services and
technologies to utility, industrial and governmental clients.
