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): APRIL 20, 1999
STEWART & STEVENSON SERVICES, INC.
(Exact name of registrant as specified in its charter)
TEXAS 0-8493 74-1051605
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
2707 NORTH LOOP WEST
HOUSTON, TEXAS 77008
(Address of principal executive offices) Zip code)
Registrant's telephone number, including area code: (713) 868-7700
Item 5. Other Events.
On April 14, 1999, Stewart & Stevenson Services, Inc. (the "Company") issued the
press release attached hereto as Exhibit 99.1 announcing the Company's dividend.
On April 20, 1999, the Company issued the press release attached hereto as
Exhibit 99.2 announcing its new Chief Executive Officer and new Directors.
Item 7. Exhibits.
Exhibit 99.1 Company Press Release dated April 14, 1999 titled "Stewart &
Stevenson Announces Dividend."
Exhibit 99.2 Company Press Release dated April 20, 1999 titled "Stewart &
Stevenson Announces New CEO and Additions to Board of Directors."
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 hereunto duly authorized.
STEWART & STEVENSON SERVICES, INC.
Date: April 20, 1999 By:/s/ C. JIM STEWART II
Name: C. Jim Stewart II
Title: Chairman of the Board of
Directors
EXHIBIT INDEX
99.1 Company Press Release dated April 14, 1999 titled "Stewart & Stevenson
Announces Dividend."
99.2 Company Press Release dated April 20, 1999 titled "Stewart & Stevenson
Announces New CEO and Additions to Board of Directors."
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EXHIBIT 99.1
NEWS FROM: STEWART & STEVENSON
CORPORATE HEADQUARTERS
P.O. BOX 1637
HOUSTON, TX 77251-1637
FOR IMMEDIATE RELEASE:
STEWART & STEVENSON ANNOUNCES DIVIDEND
HOUSTON, TX -April 14, 1999- STEWART & STEVENSON SERVICES, INC.
(NASDAQ:SSSS), a leading manufacturer and distributor of industrial and energy
related equipment, announced that in its meeting of April 13, 1999, the Board of
Directors declared a quarterly cash dividend of $.085 a share payable on May 14,
1999, to shareholders of record on April 30, 1999.
Contact: Mr. David R. Stewart
Treasurer
Phone: (713) 868-7657
Fax: (713) 863-1519
Email: [email protected]
HTTP://www.ssss.com
EXHIBIT 99.2
NEWS FROM: STEWART & STEVENSON
CORPORATE HEADQUARTERS
P.O. BOX 1637
HOUSTON, TX 77251-1637
FOR IMMEDIATE RELEASE:
STEWART & STEVENSON ANNOUNCES
NEW CEO AND ADDITIONS TO BOARD OF DIRECTORS
HOUSTON, TX April 20, 1999, STEWART & STEVENSON SERVICES, INC.
(NASDAQ:SSSS), a leading manufacturer and distributor of industrial and energy
related equipment today announced the election of Michael L. Grimes as President
and CEO of the Company. Mr. Grimes will be succeeding C. Jim Stewart II, who has
acted as the Company's CEO since the retirement of Robert L. Hargrave in January
of this year. Mr. Grimes is a 1972 graduate of Tennessee Tech University where
he earned a B.S. in Mechanical Engineering. He comes to Stewart & Stevenson from
Cooper Cameron Corporation where he served most recently as President of Cooper
Cameron Power Generation and, from 1996 to 1998, as President of Cooper Energy
Services. Prior to joining Cooper Cameron Corporation, Mr. Grimes was employed
by General Electric Company where he spent 23 years in various managerial
positions, primarily in GE's power generation and service businesses. In
addition, Mr. Grimes was a member of the GE Corporate Six Sigma Council and was
instrumental in the introduction of Six Sigma processes within GE Power Systems.
"We are pleased that Mike has accepted this key position. His record of
achievement gives us confidence that his leadership will be instrumental in
improving the future performance of the Company," said C. Jim Stewart II,
Chairman of the Board of Directors. Stewart & Stevenson also appointed two new
members to its Board of Directors. Newly appointed members include Howard Wolf,
a senior partner in the international law firm of Fulbright & Jaworski L.L.P.,
and Darvin M. Winick, PH.D., a career consultant in the improvement of business
productivity. Mr. Wolf joined Fulbright & Jaworski L.L.P. in 1959 and practices
law primarily in the areas of business transactions, securities, corporate and
international law. Dr. Winick is a graduate of Purdue University and specializes
in organizational design and corporate development.
Contact: Mr. David R. Stewart
Treasurer
Phone: (713) 868-7657
Fax: (713) 863-1519
Email: [email protected]
HTTP://www.ssss.com
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