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 17, 1997
-----------------
Scotsman Industries, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware
----------------------------------------------
(State or other jurisdiction of incorporation)
0-10182 36-3635892
------------------------ ---------------------------------
(Commission File Number) (IRS Employer Identification No.)
820 Forest Edge Drive, Vernon Hills, Illinois 60061-3112
---------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (847) 215-4600
----------------
Exhibit Index is located on page 4.
<PAGE> 2
Item 5. Other Events
The information contained in the registrant's December 17,
1997 press release, reporting its acquisition of 100 percent of the
outstanding shares of Homark Holdings Limited, a U.K. based beverage
equipment company, and its purchase of the remaining 40 percent of its
joint-venture located in Shenyang, China, a copy of which is filed as
Exhibit 99 to this report, is incorporated by reference herein.
Item 7. Financial Statements and Exhibits
(c) Exhibits:
Exhibit 99 December 17, 1997 Press Release
<PAGE> 3
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.
Scotsman Industries, Inc.
Registrant
Dated: December 17, 1997 By: /s/ Donald D. Holmes
-----------------------------
Donald D. Holmes
Vice President - Finance
<PAGE> 4
EXHIBIT INDEX
Number Description Page Number
------ ----------- -----------
Exhibit 99 December 17, 1997 Press Release 5
Exhibit 99
820 Forest Edge Drive
Vernon Hills, Illinois 60061-3112
(847) 215-4500
Fax (847) 634-8823
SCOTSMAN
---------------------------------------------------------------------
Industries
Contact: Don Holmes, CFO
847-215-4600
SCOTSMAN INDUSTRIES ACQUIRES U.K. BEVERAGE MANUFACTURER:
SCOTSMAN ALSO ACQUIRES REMAINING 40 PERCENT
OF CHINA JOINT-VENTURE
Vernon Hills, Illinois, December 17, 1997 -- Scotsman Industries,
Inc. (NYSE: SCT) today reported that it had acquired 100 percent of
the outstanding shares of Homark Holdings Limited, a U.K. based
beverage equipment company.
Homark is a leading manufacturer of counter dispense fonts,
counter mount dispensers, and line and shelf coolers sold primarily to
the U.K. beer industry with annual revenues of approximately $12
million. Homark's product range extends and is complementary with the
products manufactured by Whitlenge Drink Equipment, Limited,
Scotsman's U.K. beverage equipment subsidiary. The Homark and
Whitlenge U.K. brewery sales organizations will be combined to
capitalize on the collective strengths of the two companies.
At the closing of the transaction, Richard C. Osborne, president
and chief executive officer of Scotsman stated, "The addition of
Homark to our European beverage group represents another step in
Scotsman's effort to be a global strategic supplier to the beverage
industry. Homark broadens our product range in the European brewery
<PAGE> 6
market and adds design capability to our beverage group that should
result in increased prospects for growth."
Scotsman's beverage group consists of Whitlenge Drink Equipment,
Ltd. based in the U.K., Hartek Beverage Handling GmbH with
manufacturing and distribution facilities in Germany and Austria, SAW
Technologies, a beverage dispense valve joint venture based in the
U.K. in which Scotsman has a 50 percent interest, and Booth, Inc.
based in Dallas, Texas. Whitlenge and Hartek have served the European
brewery market for many years.
In an unrelated transaction, Scotsman purchased the remaining 40
percent of Scotsman's joint-venture located in Shenyang, China which
becomes a wholly-owned enterprise. Scotsman founded the joint-venture
in 1995 with Xinle Precision Machine Company to produce ice machines
for the Chinese market. Owning 100 percent of the operation provides
Scotsman with improved control, the opportunity to more effectively
use its assets and more rapidly penetrate the China market.
Scotsman's total investment in the above two transactions was
less than $10 million.
Scotsman Industries, Inc. is a leading international manufacturer
of a diversified line of commercial refrigeration products - ice
machines, refrigerated display cases, food preparation and storage
equipment, walk-in coolers and freezers and beverage systems. The
Company markets primarily to commercial customers in restaurant,
supermarket, lodging, healthcare and convenience store industries.
Scotsman's products are sold in more than 100 countries through
multiple distribution channels.
