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) February 22, 1999
AVONDALE INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Louisiana 0-16572 39-1097012
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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 February 22, 1999, Avondale Industries, Inc. and Newport News
Shipbuilding Inc. issued the press release filed herewith as Exhibit
99.1 announcing that their proposed merger has been cleared by the
Department of Justice under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press release issued by the Registrant on February 22, 1999.
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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: February 22, 1999
IMMEDIATELY - FEBRUARY 22, 1999
Thomas M. Kitchen: (504) 436-5237
Eugene K. Simon, Jr.: (504) 436-5664
DEPARTMENT OF JUSTICE CLEARS NEWPORT NEWS' ACQUISITION OF AVONDALE
NEW ORLEANS, LOUISIANA - Newport News Shipbuilding (NYSE-NNS) and Avondale
Industries, Inc. (Nasdaq/NMS-AVDL) announced today that their proposed
merger has been cleared by the Department of Justice under the Hart-Scott-
Rodino Antitrust Improvements Act of 1976. The antitrust clearance
satisfies an important condition to the closing of the transaction, which
remains subject to the approval of the shareholders of both companies and
to the consent of the Administrator of the Maritime Administration of the
Department of Transportation.
Newport News Shipbuilding designs and constructs nuclear powered aircraft
carriers and submarines for the U.S. Navy and provides life cycle
maintenance services for ships in the Navy fleet. The company employs
18,000 people and has annual revenues of approximately $1.8 billion.
Avondale Industries, Inc., headquartered in metro New Orleans, designs,
builds and overhauls both military and commercial ships. The Company
employs 6,000 people and has annual revenue of approximately $750 million.
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