SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 7, 1999
AVONDALE INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Louisiana 0-16572 39-1097012
(State or other (Commission File Number) (IRS Employer
jurisdiction Identification No.)
of incorporation)
P.O. Box 50280, New Orleans, Louisiana 70816
(Address of principal executive offices) (Zip Code)
(504) 436-2121
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On July 7, 1999, Avondale Industries, Inc. issued the press release filed
herewith as Exhibit 99.1 announcing that Avondale has been notified by
the United States Circuit Court that Avondale's challenge of a
1993 union election has been upheld.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press release issued by the Registrant on July 7, 1999.
<PAGE>
SIGNATURES
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 hereunto duly authorized.
AVONDALE INDUSTRIES, INC.
By: /s/ THOMAS M. KITCHEN
------------------------------------------
Thomas M. Kitchen
Vice President and Chief Financial Officer
Dated: July 8, 1999
<PAGE>
EXHIBIT 99.1
[Avondale Industries, Inc. Letterhead]
IMMEDIATELY - JULY 7, 1999
Thomas M. Kitchen: (504) 436-5237
Ed Winter (Media): (504) 436-5253
AVONDALE VINDICATED BY UNANIMOUS
5TH CIRCUIT COURT DECISION
NEW ORLEANS, LOUISIANA - Avondale Industries Inc. (NASDAQ/NMS-AVDL) today
announced that it has been notified by the United States Circuit Court that
Avondale's contestment of the 1993 union election has been upheld. Albert
L. Bossier, Jr., Chairman and Chief Executive Officer of Avondale said, "We
are gratified that the Fifth Circuit Court of Appeals has upheld the
position of Avondale Industries by finding the 1993 representation election
`fatally flawed'."
The ruling means that the election lacks validity, as the Company has
maintained for six years. It also demonstrates the falsity of the attacks
on Avondale by the Metal Trades Council and its partners at the AFL-CIO in
Washington. It should now be obvious to everyone that the union's $3
million corporate campaign, used as a tool to discredit the company with
its employees, the community and the U.S. Navy, was a ploy to strong arm
the Company to the negotiating table in order to avoid this decision.
Bossier further noted that "Under the decision, the Metal Trades Council of
New Orleans has no standing as the bargaining agent for Avondale employees.
The Company was correct in declining to negotiate with the union. It was
also correct to contest the directive of the National Labor Relations Board
on that score."
The Company has never viewed this legal dispute as a contest with its
employees. Avondale management highly values the shipyard workforce for
its efficiency and skill. Despite the stresses caused by this controversy,
the employees have performed exceptionally. They have contributed greatly
to the Company's growth and success during the 1990s. With this ruling
behind us, the Company looks forward to further progress that will benefit
everyone associated with Avondale.
Avondale Industries, Inc. based in metro New Orleans, designs, builds and
overhauls ships for the U.S. Navy, the U.S. Coast Guard and commercial
customers.
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