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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 24, 1996
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Fruehauf Trailer Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-10772 38-2863240
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
111 Monument Circle, Suite 3200, Indianapolis, Indiana 46204
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(317)630-3000
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Exhibit Index Appears on Page 4
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Item 5. Other Events.
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The Company issued a press release on June 24,
1996, a copy of which is filed as Exhibit 99.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
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(c) Exhibits.
99 Press Release dated June 24, 1996, from the
Company.
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SIGNATURE
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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.
FRUEHAUF TRAILER CORPORATION
Date: June 24, 1996 By:/s/Gregory G. Fehr
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Gregory G. Fehr
Corporate Controller
(Principal Accounting Officer)
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EXHIBIT INDEX
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Pagination by
Sequential
Numbering
Exhibit Description of Exhibit System
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99 Press Release dated June 24, 1996, 5
from the Company.
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For Further Information:
Michael D. Picchi
Fruehauf Trailer Corporation
(317) 630-3000
FRUEHAUF TRAILER REPORTS COMPLETION OF FOREIGN
ASSET SALE, INTEREST PAYMENT ON SENIOR NOTES, AND
IMPROVED LIQUIDITY
Indianapolis, Indiana -- June 24, 1996 -- Fruehauf Trailer
Corporation (NYSE:FTC) today announced that it has completed
the sale of the Company's foreign assets, excluding Mexico,
generating proceeds of approximately $20.3 million.
The Company has made the $4.6 million interest payment on
its Senior Notes originally scheduled for May 1, 1996 and as
a result has cured the nonpayment default. After payment of
transaction fees and adjustments, proceeds of approximately
$7.5 million will be used in an offer to repurchase the
Company's Senior Notes. This repurchase represents
approximately 12 percent of the Senior Notes, leaving
approximately $55 million outstanding.
In the sale transaction, the Company retained $6.0 million
for general corporate purposes. The sale also provides the
Company an expansion of working capital availability under
the revolving credit facility of up to $1.0 million.
Furthermore, the Company has entered into a new loan
facility of $3.5 million for the payment of trailing
liabilities. These three actions have provided the
Company with increased liquidity and financial flexibility.
Thomas B. Roller, President and Chief Executive Officer,
commented, "The completion of the foreign asset sale is an
important component of our strategic plan to deleverage the
Company and allows us to fully focus on our core North
American operations. While we no longer have a direct
financial interest, we will continue the longstanding and
beneficial technology sharing arrangements with these
affiliates that have served us so well in the past."
Fruehauf Trailer Corporation is one of the leading
manufacturers of truck trailers, producing, marketing, and
servicing the industry's widest range of dry freight van,
refrigerated van, platform, dump and liquid and dry bulk
tank trailers. Among the largest suppliers of trailer parts
in North America, Fruehauf products are sold throughout the
truck trailer industry's largest Company-owned dealer and
authorized independent dealer network in North America.
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