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 30, 1998
INDUSTRIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
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TEXAS 1-9580 76-0289495
(State of other jurisdiction of (Commission File Number) (IRS Employer Identification No.)
incorporation)
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7135 ARDMORE HOUSTON, TEXAS 77054
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 747-1025
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENT
On March 30, 1998, Industrial Holdings, Inc. (the "Company") acquired all
of the outstanding Common Stock, par value $1.00 per share, of WHIR Acquisition,
Inc., doing business as Ameritech Fastener Manufacturing, Inc. ("Ameritech"),
upon merger of a wholly owned subsidiary of the Company with and into Ameritech,
with Ameritech being the surviving corporation (the "Merger"). As a result,
Ameritech became a wholly owned subsidiary of the Company. Ameritech, located in
Houston, Texas, manufactures fasteners for sale to the aerospace, automotive,
petroleum and petrochemical industries. Ameritech's 1997 revenues were $1.7
million.
The attached press release may contain forward-looking statements related
to competitive advantage and prospects for expansion that involve risks and
uncertainties. These risks and uncertainties may cause actual results to differ
materially from expected results.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
The following exhibit is filed herewith:
99 Press release dated March 31, 1998, related to the
announcement of the completion of the acquisition of Ameritech
Fastener Manufacturing, Inc. of Houston, Texas.
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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 in its behalf by the
undersigned hereunto duly authorized.
INDUSTRIAL HOLDINGS, INC.
By: /s/ CHRISTINE A. SMITH
VICE PRESIDENT AND
CHIEF FINANCIAL OFFICER
Date: April 15, 1998
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EXHIBIT 99
FOR IMMEDIATE RELEASE FOR INFORMATION CONTACT
ALL NAMES VERIFIED ROBERT E. CONE, CEO
(713) 747-1025
INDUSTRIAL HOLDINGS, INC.
ACQUIRES AMERITECH FASTENER MANUFACTURING, INC.
HOUSTON, TEXAS, (MARCH 31, 1998) Robert E. Cone, President of Industrial
Holdings, Inc. ("IHI") (Nasdaq/NMS-IHII) announces the acquisition of WHIR
Acquisition, Inc. doing business as Ameritech Fastener Manufacturing, Inc.
Ameritech, located in Houston, Texas manufactures specialty fasteners for the
aerospace, automotive and petrochemical industries through the United States,
Canada and other countries. "Ameritech adds to our rivet manufacturing
capabilities and provides entry into the aerospace industry, a new market for
our Fastener Division," Mr. Cone said.
IHI operates through its two divisions, Energy Products and Services and
Fastener Sales and Manufacturing. IHI continues to explore the market for
potential acquisitions in light manufacturing industries compatible with its
divisions. IHI is a holding company organized to acquire, operate and grow
internally, achieving greater economies of scale and improved operating results
through consolidation.
Contact: Robert E. Cone, President and CEO
(713) 747-1025
