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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) June 6, 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 of 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.
Universal Automotive Industries, Inc. (the "Company") announced on June
6, 1996 the acquisition, by its UBP Division, of substantially all of the
assets of North American Friction, Inc. ("NAF"), a Canadian manufacturer of
friction products. NAF is located in Downsview, Ontario.
The acquisition of NAF and the retention of the management team lead by
Howard S. Sokoloff, President, marks the attainment of a key asset required to
meet UBP's stated strategic objective of vertical integration of all basic
brake manufacturing technologies.
With the NAF acquisition, UBP now manufactures disc brake rotors,
Friction: disc brake pads-relined brake shoes, and hydraulic wheel cylinders,
three important brake part categories.
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EXHIBITS
99. ADDITIONAL EXHIBITS.
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1. Press Release dated June 6, 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: June 20, 1996 By: /s/ Arvin Scott
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Name: Arvin Scott
Title: Chief Executive Officer, President
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Exhibit 99.1
PRESS RELEASE
June 6, 1996 -- Universal Automotive Industries, Inc. (Nasdaq-USVSL and UVS-W;
CHX-UVS and UVSWS) announced today the acquisition, by its UBP Division, of
substantially all of the assets of North American Friction, Inc., ("NAF"), a
Canadian manufacturer of friction products. NAF is located in Downsview,
Ontario.
This acquisition of NAF and the retention of the management team lead by Howard
S. Sokoloff, President, marks the attainment of a key asset required to meet
UBP's stated strategic objective of vertical integration of all basic brake
manufacturing technologies.
NAF established in 1990, is a modern, asbestos-free, state-of-the-art
manufacturer of semi-metallic pucks and integrally molded disc pads for
automotive aftermarket. Recently, NAF developed the technology to manufacture
integrally molded disc pads. The market demand for integrally molded disc pads
is expected to grow 30% annually. Most importantly, UBP will now realize
increased profit margins on sales of these products with the ability to supply
the growing demand for integrally molded disc pads into the 21st Century.
With the NAF acquisition, UBP now manufactures three important brake parts
categories:
1) Disc Brake Rotors
2) Friction: Disc Brake Pads, Relined Brake Shoes
3) Hydraulic Wheel Cylinders
The Company, which is headquartered in Chicago, specializes in the distribution
and manufacture of brake rotors and other brake parts, under it private label
"UBP-Universal Brake Parts" in the United States and Canada.
UBP: THE LEADING MANUFACTURER
OF VALUE LINE BRAKE PARTS IN NORTH AMERICA.
FOR FURTHER INFORMATION CONTACT: Dan Maeir, Chief Financial Officer at (312)
478-2323.
