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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):
MARCH 18, 1997
ENCORE WIRE CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 0-20278 75-2274963
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1410 MILLWOOD ROAD, MCKINNEY, TEXAS 75069
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(972) 562-9473
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Item 5. Other Events
On March 18, 1997, Encore Wire Corporation announced in a press
release in the form attached hereto as Exhibit 99 that its Board of Directors
has authorized the purchase of 25.6 acres of land adjacent to the Company's
current manufacturing facility and that the Company plans to construct a
facility to fabricate copper rod on the land as well as a separate facility to
handle warehousing and distribution of finished goods.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Encore Wire Corporation March 18, 1997 press release
announcing plans to construct facility.
2
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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 hereunto duly authorized.
Date: March 18, 1997 ENCORE WIRE CORPORATION
By: /s/ SCOTT D. WEAVER
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Scott D. Weaver, Vice President -- Finance,
Treasurer and Secretary
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EXHIBIT INDEX
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EXHIBIT
NUMBER DESCRIPTION
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99 Encore Wire Corporation March 18, 1997 press release
announcing plans to construct facility.
</TABLE>
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EXHIBIT 99
Encore Wire Corporation Contact: Vincent A. Rego
P. O. Box 149 CEO & Chairman
1410 Millwood Road (and other Designees)
McKinney, Texas 75069 (972) 562-9473
(972) 562-9473
Press Release
March 18, 1997
FOR IMMEDIATE RELEASE
ENCORE WIRE ANNOUNCES EXPANSION PROJECTS
MCKINNEY, TX - Encore Wire Corporation (NASDAQ/NMS: WIRE) today announced that
its Board of Directors has authorized the purchase of 25.6 acres of land
adjacent to its current manufacturing facility. The Company plans to construct
a facility to fabricate copper rod on the land as well as a separate facility
to handle warehousing and distribution of finished goods. The balance of the
land will be held for future expansion. Orders for additional manufacturing
equipment have also been placed with various equipment manufacturers to
increase the capacity of the Company's commercial wire product line. The total
cost of the projects is estimated to be approximately $19 million.
The Company presently uses copper rod purchased from others to manufacture its
wire and cable products. Upon completion of the new copper rod facility, the
Company will produce its own copper rod from copper cathodes. By vertically
integrating in this manner, the Company will also be able to reprocess the
copper scrap that is generated by its operations as well as process scrap that
can be purchased from others. The Company believes that this will enable it to
reduce its copper raw material costs.
The Company's increasing sales volume has created the need for additional
manufacturing equipment. Floor space used for warehousing and distribution in
the Company's current facility will be used for this equipment. The
warehousing and distribution of the Company's products will be handled in the
new facility. This will enable the Company to efficiently warehouse and ship
its products as its sales volumes increase.
Encore Wire Corporation manufactures a broad range of copper electrical wire
for interior wiring in homes, apartments, manufactured housing and commercial
and industrial buildings.
The matters discussed in this news release may include forward-looking
statements that involve risks and uncertainties, including fluctuations in the
price of copper, the impact of competitive pricing and other risks detailed from
time to time in the Company's reports filed with the Securities and Exchange
Commission. Actual results may vary materially from those anticipated.
