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):
June 15, 1998
ESSEX INTERNATIONAL INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-10211 13-3496934
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1601 Wall Street, Fort Wayne, IN 46802
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(Address of principal executive offices) (zip code)
(219) 461-4000
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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)
Item 5. Other Events
Essex International Inc. (the "registrant") announced on June 15,
1998 that its Board of Directors had approved the repurchase of up to an
aggregate of three million shares of its common stock. The share repurchases
will be made from time to time in the open market at prevailing market prices
or
in negotiated transactions off the market.
A copy of the registrant's press release is attached as an
Exhibit.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired:
Not applicable.
(b) Pro Forma Financial Information:
Not applicable.
(c) Exhibits:
Exhibit 20.1 Press release by the registrant dated June 15, 1998
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, in the City of Fort Wayne, State of
Indiana, on July 10, 1998.
ESSEX INTERNATIONAL INC.
/s/ James D. Rice
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James D. Rice
Vice President,
Chief Accounting Officer
(Principal Accounting Officer)
Exhibit Index
Sequential
Page
Exhibit No. Description of Exhibit Number
- - ---------- ---------------------- ----------
No. 20.1 Press release by the registrant
dated June 15, 1998 5
Essex International Inc.
c/o Essex Group, Inc.
1601 Wall Street * Fort Wayne, Indiana 46802
NEWS RELEASE Contact: Tom Castaldi
SXC 698-14 (219) 461-4389
ESSEX INTERNATIONAL ANNOUNCES STOCK REPURCHASE
Fort Wayne, Ind., June 15, 1998 - Essex International (NYSE:SXC)
today
announced that its Board of Directors has approved the repurchase of up to an
aggregate of three million shares of its Common Stock. "Based on current
market
prices, we believe that our stock is undervalued and represents a very
attractive investment opportunity," said Steven R. Abbott, chairman,
president
and CEO of the company.
The share repurchases will be made from time to time in the open market
at
prevailing market prices or in negotiated transactions off the market. The
Company plans to use existing credit facilities to finance the repurchases.
Essex International Inc. is a leading developer, manufacturer and
marketer
of diversified electrical wire and cable products. Besides building wire for
commercial and residential applications, the company's products include
magnet
wire and electrical insulation materials for motors, transformers and
electrical
controls; voice and high-bandwidth data communication wire; industrial wire
for
applications in appliances, construction, recreational vehicles and
industrial
facilities; and automotive wire and specialty wiring assemblies for
automobiles
and trucks. The company also has international operations in Canada, the
United
Kingdom and India. Essex has approximately 5,100 employees and 28 North
American manufacturing facilities.
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