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): August 5, 1998
The Stanley Works
(Exact name of registrant as specified in charter)
Connecticut 1-5224 06-058860
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Stanley Drive, New Britain, Connecticut 06053
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(860) 225-5111
Not Applicable
(Former name or former address, if changed since last report)
Page 1 of 5 Pages
Exhibit Index is located on Page 4
Item 5. Other Events.
1. On August 5, 1998, the Registrant issued a press release
announcing the completion of the acquisition of ZAG Industries, Ltd. Attached as
Exhibit (20)(i) is a copy of the Registrant's press release.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(c) 20(i) Press Release dated August 5, 1998 discussing the
completion of the acquisition of ZAG Industries, Ltd.
Page 2 of 5 Pages
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, thereunto duly authorized.
THE STANLEY WORKS
Date: August 5, 1998 By: Theresa F. Yerkes
Name: Theresa F. Yerkes
Title Vice President and Controller
Page 3 of 5 Pages
EXHIBIT INDEX
Current Report on Form 8-K
Dated August 5, 1998
Exhibit No. Page
20(i) 5
Page 4 of 5 Pages
<PAGE>
Exhibit (20) (i)
The Stanley Works Completes Acquisition of ZAG Industries
NEW BRITAIN, CONN., August 5, 1998 -- The Stanley Works (NYSE: "SWK") today
announced that it has completed the acquisition of ZAG Industries, Ltd. (NASDAQ:
"ZAGIF"). The agreement between the two parties, which was announced April 23,
1998 was overwhelmingly approved by ZAG shareholders and received all regulatory
approvals.
Stanley has acquired approximately 90% of the outstanding common shares of
ZAG for $14.30 per-share in cash (approximately $114 million). The remaining
shares continue to be held by Zvi Yemini, ZAG's Chairman and Chief Executive
Officer. ZAG will operate as a subsidiary of Stanley and will remain based in
Israel, with its existing management team.
ZAG is an innovator of plastic storage products, including tool boxes, bulk
storage containers, shelving systems and parts organizers. The company reported
revenues of $63.6 million in 1997.
Stanley is a worldwide producer of tools, hardware and door products for
professional, industrial and consumer use.
Its revenues in 1997 were $2.7 billion.
Stanley Contacts: ZAG Contact
Media Ira Green
Vance N. Meyer 972-3 902-0299
(860) 827-3871 (office)
(203) 929-9502 (home)
Investors
Gerard J. Gould
(860) 827-3833
Page 5 of 5 Pages
