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
February 28, 1997
(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)
Not applicable
(Former name or address, if changed since last
report)
Item 5: Other Events
On February 28, 1997, 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 February 28, 1997
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
Date: February 28, 1997
[LOGO]
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
VALHI, INC. JOSEPH S. COMPOFELICE
THREE LINCOLN CENTRE EXECUTIVE VICE PRESIDENT
5430 LBJ FREEWAY (281) 423-3303
DALLAS, TEXAS 75240-2697
(972) 233-1700
VALHI COMPLETES SALE OF OREGON OPERATIONS
Dallas, Texas ... February 28, 1997 ... Valhi, Inc.
(NYSE:VHI) announced that it has completed the previously
announced sale of its Oregon medium density fiberboard operations
to SierraPine, a California limited partnership for $36 million,
in cash proceeds, plus the assumption by SierraPine Ltd. of
approximately $3.7 million of debt. These operations were part of
Valhi's building products business operated by Medite Corporation,
a wholly owned subsidiary of Valcor, Inc., which is a wholly owned
subsidiary of Valhi. The Company will use the proceeds of the sale
for general corporate purposes.
In 1996 Valhi completed the sale of Medite's Oregon timber
and timberlands for approximately $118 million in cash proceeds,
$53 million of which was used to pay down Medite U.S. bank debt.
Valhi also completed in 1996 the sale of its Irish medium density
fiberboard operations for $61.5 million cash proceeds, plus the
assumption of $21 million of Irish bank debt. With the completion
of the sale of the Oregon operations, Valhi has disposed of
substantially all of its building products operations for an
aggregate of approximately $240 million.
Valhi is engaged in the chemicals, component products and
waste management industries.
