SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
September 18, 1996
(Date of Report, date of earliest event reported)
VALCOR, INC.
(Exact name of Registrant as specified in its charter)
Delaware 33-63044 74-2678674
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
5430 LBJ Freeway, Suite 1700, Dallas, TX 75240-2697
(Address of principal executive offices) (Zip Code)
(972) 233-1700
(Registrant's telephone number, including area code)
(214) 233-1700
(Former name or address, if changed since last report)
Item 5: Other Events
On September 18, 1996, the Registrant issued the press release
attached hereto as Exhibit 99.1 which is incorporated herein by reference.
Item 7: Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibit
Item No. Exhibit Index
99.1 Press release dated September 18, 1996
issued by the Registrant
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.
VALCOR, INC.
(Registrant)
By: /s/ Steven L. Watson
Steven L. Watson
Vice President & Secretary
[LOGO]
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
VALHI, INC. JOSEPH S. COMPOFELICE
THREE LINCOLN CENTRE EXECUTIVE VICE PRESIDENT
5430 LBJ FREEWAY (713) 423-3303
DALLAS, TEXAS 75240-2697
(972) 233-1700
VALHI AGREES TO SELL MEDITE OPERATIONS
Dallas, Texas ... September 18, 1996 ... Valhi, Inc.
(NYSE:VHI) announced that it has signed Letters of Intent
involving the sale of its building products business operated by
Medite Corporation, a wholly owned subsidiary of Valcor, Inc.,
which is a wholly owned subsidiary of Valhi.
The proposed sale will be accomplished in three separate
transactions whereby the Company will sell: (1) approximately
170,000 acres of timber and timberlands to Rogue Resources, LLC,
an Oregon based partnership of forest product operators; (2) the
Medford Oregon based medium density fibreboard manufacturing
facility along with a veneer and sawmill conversion facility to
Sierra Pine, a California limited partnership; and (3) the Irish
medium density fibreboard operations to Willamette Industries,
Inc. (NASDAQ:WMTT). The transactions are subject to, among other
things, completion of due diligence, execution of definitive
agreements and certain regulatory approvals.
The total cash consideration will be approximately $230
million, subject to certain adjustments, plus the assumption of
$20 million of foreign debt. The transactions are expected to
close in the fourth quarter of 1996, at which time the Company
expects to report a pretax gain on the dispositions in excess of
$100 million. Approximately $53 million of the cash proceeds will
be used to pay off Medite bank debt in the U.S.
Valhi, Inc. is a major producer of chemicals, refined sugar,
building products and other products.
