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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): July 20, 1998
SMITH CORONA CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-10281 51-0286862
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
839 Route 13 South, Cortland, New York 13045
(Address of principal executive offices) (zip code)
(607) 753-6011
(Registrant's telephone number, including area code)
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Item 5. Other Events
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On July 20, 1998, Smith Corona Corporation announced that
Peter N. Parts, Chairman of the Board of Directors, will assume
the post of President and Chief Executive Officer. Peter Parts
replaces W. Michael Driscoll, who retired as the company's
President & CEO.
A copy of the July 20, 1998 press release announcing the above
event is attached hereto as exhibit 99.1, and is incorporated
herein by reference.
Effective July 22, 1998 Ronald F. Stengel resigned as Director of
the Company. Mr. Stengel stepped down as chairman of the board in
May 1998 due to the constraints imposed by his current business
commitments.
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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.
Date: August 3, 1998 SMITH CORONA CORPORATION
By: /s/ John A. Piontkowski
John A. Piontkowski
Senior Vice President and
Chief Financial Officer
(Principal Financial Officer)
By: /s/ Martin D. Wilson
Martin D. Wilson
Vice President/Controller
(Principal Accounting Officer)
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INDEX TO EXHIBIT
Exhibit No. Description
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99.1 News Release
<PAGE> EXHIBIT 99.1
Smith Corona Chairman Assumes Chief Executive Post
CORTLAND, N.Y., July 20, 1998, Smith Corona Corporation
(NASDAQ:SCCO) today announced that Peter N. Parts, chairman of the
Board, will assume the post of president and chief executive
officer, effective immediately. Mr. Parts, 45, replaces W.
Michael Driscoll, who retired as the company's president and CEO.
Mr. Driscoll will continue to be available to Smith Corona on a
consulting basis.
"We want to thank Mike Driscoll for taking Smith Corona
through this important first year which recently ended as the
company makes its transition from manufacturer to a developer and
marketer of new technology products," Mr. Parts stated. "Our
priorities are to aggressively continue the emphasis on sales and
marketing and to focus on improving the company's ability to
source and market third-party products."
Mr. Parts was elected chairman of the board in May and has
served as a member of Smith Corona's board of directors since
early 1997. Mr. Parts is founder, president, and chief executive
officer of Peter Parts Electronics, Inc., a supplier of electronic
components. He has extensive experience sourcing products in the
Pacific Rim and Europe and marketing those products throughout
North America.
Headquartered in Cortland, N.Y., Smith Corona Corporation is
dedicated to providing productivity and communication through new
and emerging technology products, in addition to its traditional
portable electronic typewriters and related accessories and
supplies.
