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) AUGUST 14, 1998
INDUSTRIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
TEXAS 1-9580 76-0289495
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
7135 ARDMORE HOUSTON, TEXAS 77054
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 747-1025
________________________________________________________________
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On August 14, 1998, Industrial Holdings, Inc. (the "Company") acquired
the assets and assumed certain liabilities of the Kirsch Hardware and Components
Business (the "Business") from Kirsch, Inc. The business will be operated by IHI
under the name Ideal Products ("Ideal"). The Ideal manufacturing facility,
located in Beacon Falls, Connecticut, manufactures drapery hardware components,
wire drawn products such as common pins and safety pins, and electrical
components (including retention clips, fuse holders, contacts and switch
components) for use in distribution panels, wiring devices, fuses, circuit
breakers and switches.
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
Exhibit No.
99 Press release dated August 17, 1998, related to the
announcement of the completion of the acquisition of Kirsch
Hardware and Components Business.
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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: August 24, 1998
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EXHIBIT INDEX
Exhibit No.
99 Press release dated August 17, 1998, related to the announcement of
the completion of the acquisition of Kirsch Hardware and Components
Business.
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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 MANUFACTURING FACILITY
FROM KIRSCH, INC.
HOUSTON, TEXAS, (AUGUST 17, 1998) Robert E Cone, President of Industrial
Holdings, Inc. announces the acquisition of the assets of the Kirsch Hardware
and Components Business (the "Business") from Kirsch, Inc. The Business will be
operated by IHI under the name Ideal Products ("Ideal"). The Ideal manufacturing
facility, located in Beacon Falls, Connecticut, manufactures drapery hardware
components, wire drawn products such as common pins and safety pins, and
electrical components (including retention clips, fuse holders, contacts and
switch components) for use in distribution panels, wiring devices, fuses,
circuit breakers and switches. Ideal's 1997 revenues were approximately $15
million. Ideal will operate as part of IHI's Fastener Manufacturing and Sales
Division. Other terms of the acquisition were not disclosed.
IHI is organized into four divisions, Fastener Manufacturing and Sales, Valve
and Pump Manufacturing and Repair, Components and Construction and Machine Sales
and Service.
Contact: Robert E. Cone, President and CEO
(713) 747-1025
