SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Date of Report
(Date of earliest
event reported): December 18, 1998
BANDAG, INCORPORATED
(Exact name of registrant as specified in its charter)
Iowa 001-07007 42-0802143
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
2905 North Highway 61
Muscatine, Iowa 52761
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(Address of principal executive offices including zip code)
(319) 262-1400
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(Registrant's telephone number)
Page 1 of 3 pages
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ITEM 5. OTHER EVENTS
On December 18, 1998, Bandag, Incorporated (the "Registrant")
and Treadco, Inc. ("Treadco") executed a definitive settlement agreement
terminating a dispute between Registrant and Treadco previously described in
Item 3 of Registrant's Annual Report on Form 10-K for the years ended December
31, 1995, 1996 and 1997.
A copy of the press release announcing the settlement is
attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
(a) None.
(b) None.
(c) See Exhibit Index on page 3.
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this Current Report on Form 8-K
to be signed on its behalf by the undersigned thereunto duly authorized.
BANDAG, INCORPORATED
By: /s/Warrent W. Heidbreder
Warren W. Heidbreder,
Vice President and
Chief Financial Officer
Page 2 of 3 pages
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EXHIBIT INDEX
Exhibit Number Exhibit Description
99.1 Press Release
Page 3 of 3 pages
NEWS
FOR IMMEDIATE RELEASE CONTACT:WARREN HEIDBREDER
December 18, 1998 (319) 262-1260
SETTLEMENT BRINGS END TO BANDAG--TREADCO DISPUTE
MUSCATINE, IOWA - Bandag, Incorporated (NYSE: BDG and BDGA) today announced that
it has reached a settlement of a dispute with Treadco, Inc. arising out of the
two companies' former business relationship. The settlement provides for a
one-time payment by Bandag and resolves all disputes and liabilities between
Treadco, Inc. and Bandag, Incorporated and certain of its current and former
employees.
The parties have agreed that all terms and conditions of the settlement will be
kept confidential, except as required to comply with reporting obligations. The
settlement will not have any effect on Bandag's fourth quarter and full year
1998 earnings as the Company had provided for the estimated impact of resolving
this dispute in previous periods.
Bandag, Incorporated manufactures retreading materials and equipment for its
worldwide network of approximately 1,300 franchised dealerships who produce and
market retread tires, and provide tire management services. Bandag's
wholly-owned subsidiary, Tire Distribution Systems, Inc., sells and services new
and retread tires.
