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UNITED STATES 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
Date of Report (Date of earliest event reported): March 4, 1997
COHESANT TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Commission File Number 0-25126
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Delaware 34-1775913
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
1801 E. 9th St., Suite 510, Cleveland, OH 44114
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (216) 861-6266
(Former name or former address, if changed since last report) Not applicable
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ITEM 5. OTHER EVENTS
Cohesant Technologies Inc. (the "Company") announced in a press release
issued March 5, 1997, that a St. Louis, Missouri jury verdict was rendered in a
lawsuit filed by American Chemical Company ("ACC"), a Missouri corporation and
a subsidiary of the Company ("ACC") against one of its customers, Superior
Coatings, Inc. ("Superior"). A copy of the press release is attached hereto as
an exhibit and incorporated herein by reference. The lawsuit was originally
brought by ACC in 1991 seeking collection for amounts owed on open account.
Superior filed a counterclaim against ACC stating claims arising from a 1988
distributor agreement. ACC prevailed on its claim and was awarded an aggregate
of $82,000; however, Superior also prevailed on its claim, and was awarded
$400,000 in compensatory damages and $1,500,000 in punitive damages. Management
believes that the verdict was contrary to the evidence and intends to
vigorously defend its position through the post-trial appeal process.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(c) The following exhibit is filed as part of this report on Form 8-K:
Exhibit 99.1 - Cohesant Technologies Inc. Press Release dated March 5, 1997
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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 thereto duly authorized.
COHESANT TECHNOLOGIES INC.
(Registrant)
Date: March 5, 1997 By:/s/ Dwight D. Goodman
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Dwight D. Goodman
President & Chief Operating Officer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99.1 Cohesant Technologies Inc. Press Release dated March 5, 1997
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Exhibit 99.1
[COHESANT TECHNOLOGIES LOGO]
Contact: David Kennedy, President
American Chemical Company
314-664-2403
FOR IMMEDIATE RELEASE
VERDICT RETURNED IN AMERICAN CHEMICAL LAWSUIT
Cleveland, March 5, 1997--Cohesant Technologies Inc. (Nasdaq:COHT) today
announced that a St. Louis jury returned a verdict in a lawsuit its American
Chemical Company subsidiary had filed in 1991 against Superior Coatings, Inc.
The jury awarded American Chemical $82,000 for amounts owed to it by Superior
Coatings, but also awarded Superior $400,000 in compensatory damages and
$1,500,000 in punitive damages in a counterclaim against American Chemical.
The jury verdict against American Chemical related to a 1988 distributor
agreement between the two companies.
"While we are pleased that we prevailed in our claim, we have always believed
and continue to believe that Superior Coatings' counterclaim lacks merit," said
David Kennedy, President of American Chemical. "The jury's decision on the
counterclaim seems inconsistent and contrary to the evidence, so we will
continue to vigorously defend our position through the post-trial appeal
process."
Cohesant Technologies Inc. designs, develops, and manufactures specialized
spray finishing and coating application equipment and specialty coating,
adhesive, and sealant products through its two subsidiaries: Glas-Craft, Inc.
and American Chemical Company. Glas-Craft manufactures spray finishing and
coating equipment that meets strict new clean-air standards. American Chemical
Company manufactures and sells over 250 coating, adhesive, and sealant
products, including Aquatapoxy(R) and the recently acquired Raven line of
high-performance coating systems that are resistant to water and corrosive
breakdown by most acids and solvents and can be used in drinking water systems.
1801 EAST NINTH STREET - SUITE 510 - CLEVELAND, OHIO 44114
Telephone: (216) 861-6266 Fax: (216) 694-3545
