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UNITED STATES
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) February 20, 1998
Telecomm Industries Corporation
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(Exact name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-4410 06-844558
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(Commission File Number) (I.R.S. Employer Identification No.)
1743 West Quincy Avenue, Naperville, Illinois 60540
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(Address of Principal Executive Office) (Zip Code)
(630)369-7111
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
The attached press release, relating to the acquisition of Division Tel
Communications Group, Inc. by Telecomm Industries Corporation, is hereby
incorporated by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit 99.1 -- Press Release dated February 20, 1998
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.
TELECOMM INDUSTRIES CORPORATION
(Registrant)
Date: February 20, 1998 By: /s/ James M. Lowery
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(Signature)
James M. Lowery
Chairman and Chief Executive Officer
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EXHIBIT INDEX
EXHIBIT 99.1--Press Release dated February 20, 1998 issued by Telecomm
Industries Corporation.
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EXHIBIT 99.1
Contact: Contact:
Telecomm Industries Corp. Telecomm Industries Corp.
David Gruber Paul Satterthwaite
Phone: (330) 963-0566 Phone: (317) 574-1000
FAX: (330) 963-0565 FAX: (317) 574-1020
Telecomm Industries Corp. Completes
Acquisition of Division Tel Communications
Group, Inc.
Naperville, Illinois-February 20, 1998 Telecomm Industries Corp. (TCMM:OTC
BB) announced today that it has completed the acquisition of Division Tel
Communications Group Inc. of Evansville, Indiana. Terms of the transaction
were not disclosed. Telecomm Industries anticipates that the transaction will
add $1.5 - $2.0 million in revenues and approximately $300,000 in net income in
the coming year.
Division Tel Communications Group Inc. is a privately held company with
headquarters in Evansville, Indiana and was founded by Michael Meece in October
1994. Since that time the Company has grown from just one employee to ten
full-time employees, and Division Tel Communications Group is one of
Ameritech's fastest growing distributors in Southern Indiana. In addition to
Ameritech network services, the company markets, installs, and maintains
telephone systems and structured wiring systems. Michael R. Meece, Division
Tel President, commented, "We are pleased to become part of Telecomm Industries
and visualize many snyergies between the two companies. We are also excited to
help Telecomm Industries develop both the Ameritech (NYSE:AIT) and BellSouth
(NYSE:BLS) regions in Southern Indiana and Western Kentucky."
Telecomm Industries Chairman and CEO, James Lowery, commented, "We are pleased
that the acquisition of Division Tel Communications Group is complete. Our
acquisition strategy targets companies that will be immediately accretive to
earnings per share and increase our market coverage. We expect that the
Division Tel acquisition will meet both of these goals. In addition, we are
off to a great start in the first quarter of 1998 and expect to continue to
grow through additional acquisitions."
Telecomm Industries Corp. is one of the nation's largest distributors of voice
and data services for Ameritech (NYSE:AIT), BellSouth (NYSE:BLS), and GTE
(NYSE:GTE). Telecomm combines these services with products from world class
manufacturers to provide single source telecommunications and computing
solutions to its business customers. Telecomm Industries specializes in being
the single provider of the customer's total communication needs. Telecomm has
over 30,000 accounts in seven states with more than 20 branch offices
strategically located throughout the Midwest.
This press release includes forward-looking statements. Actual results may
differ materially from those projected in the forward-looking statements.
Reference is made to the Company's filings with the Securities and Exchange
Commission, including the Company's annual report for fiscal 1996 on Form
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10-KSB and its quarterly report for the third quarter of 1997 on Form 10-QSB,
for a description of factors that could cause actual results to differ
materially from those in the forward-looking statements. There is no assurance
that Division Tel Communications Group will be successfully merged into
Telecomm Industries.
