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 19, 2000
STEWART & STEVENSON SERVICES, INC.
(Exact name of registrant as specified in its charter)
TEXAS 0-8493 74-1051605
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction Identification No.)
of incorporation)
2707 NORTH LOOP WEST
HOUSTON, TEXAS 77008
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (713) 868-7700
<PAGE>
Item 5. Other Events.
On April 19, 2000, Stewart & Stevenson Services, Inc. (the "Company") issued
the press release attached hereto as Exhibit 99.1 announcing that the Company
was awarded a contract to build five-ton tractors for the National Guard.
Item 7. Exhibits.
Exhibit 99.1 Company Press Release dated April 19, 2000, titled "Stewart &
Stevenson Tactical Vehicle Systems Awarded Contract to Build Five-Ton Tractors
for National Guard."
<PAGE>
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 19, 2000 By: /s/ LAWRENCE E. WILSON
Name: Lawrence E. Wilson
Title: Vice President, Secretary
and General Counsel
<PAGE>
EXHIBIT INDEX
99.1 Company Press Release April 19, 2000, titled "Stewart & Stevenson Tactical
Vehicle Systems Awarded Contract to Build Five-Ton Tractors for National
Guard".
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Exhibit 99.1
Exhibit 99.1
News From: Stewart & Stevenson
Corporate Headquarters
P.O. Box 1637
Houston, TX 77251-1637
FOR IMMEDIATE RELEASE:
STEWART & STEVENSON TACTICAL VEHICLE SYSTEMS AWARDED
CONTRACT TO BUILD FIVE-TON TRACTORS FOR NATIONAL GUARD
HOUSTON, Texas, April 19, 2000 - STEWART & STEVENSON SERVICES, INC.
(NASDAQ:SSSS), a leading manufacturer, distributor, and provider of service for
industrial and energy related equipment, and a manufacturer of medium tactical
vehicles for the U.S. Army, announced that its Tactical Vehicle Systems Division
in Sealy, Texas, has been awarded an $11.5 million modification of a production
contract. The modification exercises an option for the delivery of 79 FMTV A1
(Family of Medium Tactical Vehicles) five-ton tractor trucks for use by the U.S.
Army National Guard (ARNG). The vehicles will be delivered during the first and
second quarter of 2001.
The tractors, one of the variants of the FMTV produced by TVS, are used in
conjunction with semi-trailers and are a major component in the Department of
Defense contingency plans for the movement of key supplies and material.
"The National Guard has significant shortages of the tractors," said
Richard M. Wiater, Vice President and General Manager of Stewart & Stevenson's
Tactical Vehicle Systems Division in Sealy. "The current vehicles in its fleet
lack required capabilities and are old and costly to maintain." This award is a
step in the process to modernize the National Guard's capabilities and improve
unit readiness.
Production of the FMTV A1 started in September 1999. Stewart & Stevenson
will build approximately 7,800 FMTV A1s and some 1,500 companion trailers
through the year 2003 under a $1.4 billion multi-year contract with the Army.
The new, improved A1 model follows production of some 11,000 FMTV A0's built for
the Army by TVS between 1993 and late 1998.
The FMTV A1 has proven its ability to operate successfully for long
periods during demanding U.S. government-run Production Verification Tests.
During these tests, the A1 Models recorded more than 13,000 mean miles between
hardware mission failure against a contract reliability requirement of 5,500
miles. The original FMTV A0, first fielded in 1996, demonstrated more than
double the contract specified reliability requirements.
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Stewart & Stevenson believes that its expectations, as
expressed in these statements, are based on reasonable assumptions regarding the
risks and uncertainties inherent in achieving those expectations. These
statements are not, however, guarantees of future performance and actual results
may differ materially. The most important factors that may cause actual results
to differ from our expectations are risk of cancellation, adjustment or
termination of the FMTV procurement program; unilateral changes directed by the
U. S. Army in the scope or timing of the program; and future government
budgeting. Other risk factors are listed in Stewart & Stevenson Services, Inc.
annual report to the Securities and Exchange Commission on Form 10-K for the
year ended January 31, 1999, and Quarterly Report to the Securities and Exchange
Commission on Form 10-Q for the three and nine months ended October 31, 1999.
Contact: Mr. David R. Stewart
Treasurer
Phone: (713) 868-7657
Fax: (713) 863-1519
Email: [email protected]
HTTP://www.ssss.com
