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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Filed pursuant to Section 12, 13, or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 24, 1998
OWOSSO CORPORATION
(Exact name of issuer as specified in charter)
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PENNSYLVANIA 0-25066 23-2756709
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(State or Other Jurisdiction Commission (I.R.S. Employer
of Incorporation or Organization) file number Identification Number)
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The Triad Building, 2200 Renaissance Boulevard, Suite 150,
King of Prussia, PA 19406
(Address of principal executive offices)
(610) 275-4500
(Registrant's telephone number, including area code)
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Item 5. Other Events
Owosso Corporation (the "Company") announced that it has
completed the sale of substantially all of the assets of DewEze Manufacturing,
Inc. ("DewEze"), an agricultural subsidiary, for $5.1 million. The Company
received $4.4 million in cash and a note for $0.7 million in exchange for
DewEze's assets. The business was sold to Harper Industries, Inc., a company
formed by the president of DewEze.
Item 7. Financial Statements, Pro Forma
Financial Information and Exhibits
(c) Exhibits
99.1 Press release dated July 27, 1998 re:
sale of DewEze Manufacturing, Inc.
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SIGNATURE
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.
OWOSSO CORPORATION
Date: August 3, 1998 By: /s/ John H. Wert, Jr.
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John H. Wert, Jr., Senior Vice President -
Finance and Chief Financial Officer
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EXHIBIT INDEX
Exhibit
No. Description
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99.1 Press release dated July 27, 1998 re: sale of
DewEze Manufacturing, Inc.
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July 27, 1998
OWOSSO CORPORATION ANNOUNCES COMPLETION OF
SALE OF DEWEZE MANUFACTURING, INC.
July 27, 1998 - King of Prussia, PA - Owosso Corporation (Nasdaq: OWOS) today
announced that it has completed the previously announced sale of its DewEze
Manufacturing, Inc. agricultural subsidiary for $5.1 million. Owosso received
$4.4 million in cash and a note for $0.7 million in exchange for DewEze's
assets. The business was sold to Harper Industries, Inc., a company formed by
the president of DewEze.
Owosso Corporation is a diversified manufacturer of engineered component
products and specialized equipment. By operating in narrowly defined niche
markets, Owosso seeks to achieve revenue growth through market penetration and
new product development, while maximizing profit margins. Owosso currently has
manufacturing facilities in nine states and sells its products nationwide.
To receive additional information on Owosso Corporation, call Owosso's
toll-free investor services line at 1-888-OWOS-010, or visit Owosso's website,
owosso.com.
