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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):
December 1, 1999
LINDSAY MANUFACTURING CO.
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(Exact name of registrant as specified in its charter)
Delaware 0-17116 47-0554096
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(State of Incorporation) (Commission File Number) (IRS Employer Identification
Number)
Box 156, 214 East 2nd Street
Lindsay, Nebraska 68644
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(Address of principal executive offices) (Zip Code)
(402) 428-2131
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS.
Reference is made to the press release of Registrant, issued on
December 1, 1999, which is incorporated herein by this reference. A copy of the
press release is attached to this Form 8-K as Exhibit 99.1.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
LINDSAY MANUFACTURING CO.
By /s/ Bruce C. Karsk
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Bruce C. Karsk, Vice President-Finance,
Treasurer and Secretary
December 3, 1999
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99.1 Press Release dated December 1, 1999
EXHIBIT 99.1
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FOR FURTHER INFORMATION:
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AT THE COMPANY: AT THE FINANCIAL RELATIONS BOARD:
Bruce Karsk Jenifer Estabrook Janine Warell Bess Gallanis
Vice President of Finance General Inquiries Analyst Inquiries Media Inquiries
402-428-2131 312-640-6787 312-640-6775 312-640-6737
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FOR IMMEDIATE RELEASE
WEDNESDAY, DECEMBER 1, 1999
LINDSAY MANUFACTURING CHAIRMAN, PRESIDENT AND
CEO GARY PARKER ANNOUNCES RETIREMENT,
DIRECTOR JOHN CROGHAN TO SERVE AS CHAIRMAN;
PARKER TO CONTINUE AS PRESIDENT AND CEO PENDING SEARCH
LINDSAY, NEB., DECEMBER 1, 1999--LINDSAY MANUFACTURING CO. (NYSE: LNN) a leading
manufacturer of center pivot and lateral move irrigation systems, announced
today its Chairman, President and CEO, Gary D. Parker will be retiring from the
company by the conclusion of the fiscal year.
Mr. Parker will serve as chairman of the board and a director until his term
expires at the company's annual meeting on January 25, 2000. Following the
annual meeting, he will continue serving as president and CEO, and will retire
from those positions at the earlier of the end of Lindsay's current fiscal year
(ending August 31, 2000) or upon the naming of a successor. He will also serve
as a consultant to the company for two years following his retirement.
At the annual meeting in January, Mr. John W. Croghan, a director of the company
since, 1989, will assume the role of chairman. As chairman, he will manage the
board process while Mr. Parker, pending his retirement, will continue to manage
the company. Mr. Parker will report to Mr. Croghan and the board, which will
oversee the search for a successor to Mr. Parker.
"On behalf of the shareholders, the board and the employees, I wish to thank
Gary for his years of fine service to Lindsay. The company has grown
dramatically and Gary has made many contributions in product innovation, factory
automation and expanded distribution. Since going public in 1988, under Gary's
leadership as president and CEO, Lindsay's stock has appreciated approximately
tenfold. We are grateful that Gary has agreed to serve as a consultant to the
company following his retirement and we wish him well in all of his future
endeavors," stated Mr. Croghan.
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Mr. Parker commented, "It has been rewarding to be associated with the growth
and success of Lindsay during the last 28 years. Today Lindsay is a global
leader with systems operating in over 85 countries. I have truly enjoyed my
association with employees, dealers and fellow shareholders, but have decided at
this point in my life I want to spend more time with my family and travel for
pleasure."
Lindsay is a leading manufacturer and marketer of center pivot and lateral move
irrigation equipment. The company also produces large diameter steel tubing and
provides outsource manufacturing and production services for others. At August
31, 1999, Lindsay had 12.4 million shares outstanding, which are traded on the
New York Stock Exchange under the symbol LNN.
FOR MORE INFORMATION REGARDING LINDSAY MANUFACTURING CO.,
FREE OF CHARGE VIA FAX, SIMPLY DIAL 1-800-PRO-INFO AND ENTER "LNN"
OR, SEE LINDSAY'S WEBSITE AT WWW.ZIMMATIC.COM
