SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 1999
JPE, INC. (d/b/a ASCET INC)
(Exact name of registrant as specified in its charter)
MICHIGAN
(State or Other Jurisdiction of Incorporation)
0-22580 38-2958730
(Commission File No.) (IRS Employer Identification No.)
30400 Telegraph Road, Suite 401
Bingham Farms, Michigan 48025
(Address of Principal Executive Offices) (Zip Code)
(248) 723-5531
(Registrant's Telephone Number, Including Area Code)
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Item 5 Other Events
On July 1, 1999, Richard R. Chrysler was named to the position of Vice Chairman
of JPE, Inc. (d/b/a ASCET INC), the "Company". Mr. Chrysler previously served as
President and Chief Executive Officer of the Company. The press release of the
Company announcing this management change is attached.
Item 7 Financial Statements and Exhibits
Press Release July 1, 1999 (Exhibit 20).
<PAGE>
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.
JPE, INC. (d/b/a ASCET INC)
Date: July 13, 1999 /s/ Karen A. Radtke
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Karen A. Radtke
Secretary and Treasurer
<PAGE>
Exhibits Index
EXHIBIT
NUMBER DESCRIPTION
20 Press Release dated July 1, 1999
ASCET
PRESS RELEASE
CONTACT:
David L. Treadwell
ASCET Inc.
30400 Telegraph Road, Suite 401
Bingham Farms, MI 48025
(248) 723-5531
email [email protected]
ASCET ANNOUNCES MANAGEMENT CHANGES
SOUTHGATE, Mich., July 1, 1999 - ASCET announced today that Richard
Chrysler has been named Vice Chairman. Chrysler, formerly President and CEO,
will continue to report to David Treadwell, Chairman and CEO of ASCET.
Chrysler's new responsibilities will consist of developing growth
opportunities for the company. Mr. Chrysler spearheaded the restructuring of
ASCET prior to investment of ASC Holdings and Kojaian Holdings.
ASCET also announced the promotion of Grant McKinley to General Manager of
Plastic Trim, Inc., a wholly owned subsidiary of ASCET.
"With the new financial stability of ASCET we are able to focus our
attention on our customers, instead of our banks. This includes determining new
technologies and products we can develop or acquire to better serve our
customers," stated David Treadwell.
ASCET, which trades OTC BB:JPEI, is a Tier I supplier of automotive
exterior trim packages and aftermarket heavy truck parts. ASCET consists of
three operating subsidiaries: Plastic Trim, Inc., (PTI) and Starboard
Industries, Inc., both exterior trim suppliers and Dayton Parts Incorporated, an
aftermarket supplier of heavy truck suspension and brake systems.
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