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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
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Date of Report: June 30, 1997
ADVANCED DEPOSITION TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
333-17653
(Commission
File Number)
Delaware 04-2865714
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(State or other (IRS Employer
jurisdiction of Identification No.)
incorporation)
580 Myles Standish Boulevard
Taunton, Massachusetts 02780
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 823-0707
N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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The Company issued a press release on May 30, 1997 announcing: A.D. TECH
accepts Foilmark's decision not to pursue discussions on acquisition offer. A
copy of the press release is attached and filed as Exhibit 99.1 to this Form 8-K
and is incorporated herein by reference as though fully set forth herein.
Item 7. Exhibits
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The following exhibits are filed as part of this report of Form 8-K
pursuant to Item 601 of Regulation S-K.
Exhibit 99.1 - Press Release dated May 30, 1997.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
Advanced Deposition Technologies, Inc. has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
Date: June 30, 1997 ADVANCED DEPOSITION TECHNOLOGIES, INC.
By: /s/ Mark R. Thomas
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Mark R. Thomas, Chief Financial Officer
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Exhibit 99.1
Press Release dated May 30, 1997
A.D. TECH ACCEPTS FOILMARK'S DECISION
NOT TO PURSUE DISCUSSIONS ON ACQUISITION OFFER
World's largest food company to expand microwave product sales in
Europe using A.D. TECH's patented materials
TAUNTON, Mass., May 30, 1997. Advanced Deposition Technologies Inc. (NASDAQ:
ADTC) announced today they have accepted Foilmark's decision not to pursue
discussions regarding A.D. TECH's unsolicited acquisition offer.
"I believe Foilmark's decision was short-sighted and uninformed," said Glenn J.
Walters, president/CEO of A.D. TECH. "There are significant cost savings,
technical synergy and manufacturing economies of scale that could have benefited
both company's shareholders in this proposed transaction. A.D. TECH had
financing available for this transaction, but we will respect their decision.
A.D. TECH made an offer to purchase all of Foilmark's stock on May 14, 1997.
The offer was made at a premium to the current market price of Foilmark's Common
Stock.
A.D. TECH also announced today that Unilever, the largest food company in the
world after more than 12 months of successful marketing of "ACCU-CRISP/TM/" in
Europe, has decided to broadly expand product sales using A.D. TECH's patented
microwave food packaging materials.
Additionally, A.D. TECH is introducing a new microwave product: Microwave
Roaster Bags, which can brown and crisp a whole chicken, or turkey in one-third
the time of conventional ovens, utilizing A.D. TECH's patented materials.
In the past six months, the "BROWN N' CRISP(R)" infomercial has been running
very successfully, being rated one of the top ten infomercials during this
period and a second infomercial is underway. The new Microwave Roaster Bags are
expected to be offered in the near future. "BROWN N' CRISP(R)" is being sold in
numerous international markets and expanding. For instance, A.D. TECH has a
promotional agreement with Sanyo microwave ovens. "BROWN N' CRISP(R)" has been
very successful at the retail level, with distribution expanding to all major
retailers nationwide. "BROWN N' CRISP(R)" is becoming a staple at the consumer
level and a significant portion of A.D. TECH's annual revenues.
Advanced Deposition Technologies, Inc. (NASDAQ: ADTC) is a technology
development corporation committed to commercializing new technologies and
products related to thin films, coatings, dielectric film and vapor depositions.
Currently, the company has product divisions in markets for electronics,
microwave food packaging, security holograms, retroelective films, and a product
development group. The company either owns or licenses more than 35 patents and
has approximately twelve patents pending. A.D. TECH pursues technology
leadership positions in its existing markets and develops new products for
emerging growth industries. On a selective basis, the company licenses its
proprietary technologies and patents to market leaders who can accelerate the
revenue growth of A.D.TECH's unique products and technologies into large-scale
commercialization and markets.
Certain statements contained above are "forward looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Actual events,
results and/or timing may differ from the events, results, and/or timing as
projected, estimated or described above.
