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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
Commission file number 33-67854
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Date of Report (Date of earliest event reported) FEBRUARY 25, 1999
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CMI INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 57-0836097
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) identification No.)
1301 GERVAIS STREET, SUITE 920, COLUMBIA, SOUTH CAROLINA 29201
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(Address of principal executive offices)
(Registrant's telephone number, including area code) (803) 771-4434
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NOT APPLICABLE
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(Former name, former address and formal fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENT.
On May 15, 1998, CMI Industries, Inc. ("CMI") entered into a merger
agreement (the "Merger Agreement") with CMI Management, Inc. ("CMI Management"),
a Company organized by its senior management and CMI Acquisitions, Inc. ("CMI
Acquisitions"), a wholly-owned subsidiary of CMI Management, pursuant to which
CMI Acquisitions would merge with and into CMI, and CMI would be the surviving
corporation in the Merger.
Pursuant to the Merger Agreement, consummation of the Merger was
subject to a number of conditions including the receipt of anticipated equity
financing and satisfactory debt financing.
On February 25, 1999, CMI Management terminated the Merger Agreement.
Management believes that the poor market conditions for new public debt
securities coupled with the continued slowness in certain segments of CMI's
business have made it impractical to consummate the merger transaction at this
time.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a), (b), and (c) Not Applicable.
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 thereunto duly authorized.
Date: February 26, 1999 By: /s/ James A. Ovenden
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James A. Ovenden
Executive Vice President and
Chief Financial Officer
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