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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
Date of Report (Date of earliest event reported) October 11, 1996
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Universal Automotive Industries, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-13516 36-3973627
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
3350 North Kedzie Avenue, Chicago, Illinois 60618-5722
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (312) 478-2323
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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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Universal Automotive Industries, Inc. (the "Company") announced on October
11, 1996, that sales for the third quarter were $17.1 million or a 35% increase
compared to $12.7 million in the same quarter in 1995. For the nine months
ended September 30, 1996, sales were $50.1 million or a 46% improvement
compared to the same 1995 period. Sales growth is due primarily to continued
growth in brake parts through increased market penetration in the brake parts
sector that is growing at a double digit pace. Overall sales growth remains
strong despite a significant decline in the Chicago warehouse/distribution
business due to termination of lower margin non-brake product lines, to provide
added capacity to handle the Company's brake parts business.
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EXHIBITS
99. ADDITIONAL EXHIBITS.
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1. Press Release dated October 11, 1996.
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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, thereunto duly authorized.
Universal Automotive Industries, Inc.
(Registrant)
DATE: October 17, 1996 By: /s/ Arvin Scott
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Name: Arvin Scott
Title: Chief Executive Officer, President
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UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
3350 North Kedzie Avenue
Chicago, IL 60618-5722
(312) 478-2323 - Fax: (312) 478-2610
Toll Free: (800) 621-5128
FOR IMMEDIATE RELEASE
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Universal Automotive Industries, Inc.
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CHICAGO, Illinois, October 10, 1996 -- Universal Automotive
Industries, Inc., (NASDAQ - UVSL and UVSW; CHX-UVS and
UVSWS) announced today that sales for the third quarter were
$17.1 million or a 35 percent increase compared to $12.7
million in the same quarter in 1995. For the nine months
ended September 30, 1996, sales were $50.1 million or a 46
percent improvement compared to the same 1995 period. Sales
growth is due primarily to continued growth in brake parts
through increased market penetration in the brake parts
sector that is growing at a double digit pace. Overall
sales growth remains strong despite a significant decline in
the Chicago warehouse/distribution business due to
termination of lower margin non-brake product lines, to
provide added capacity to handle the Company's brake parts
business.
The Company, whose headquarters are in Chicago, specializes
in the distribution and manufacture of brake rotors and
other brake parts, under its private label "UBP - Universal
Brake Parts," in the United States and Canada.
For further information contact: Jerome J. Hiss, Chief
Financial Officer (312-478-2323 ext. 227).
