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UNITED STATES
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): JULY 14, 1999
TECH-SYM CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
NEVADA 1-4371 74-1509818
(STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER
OF INCORPORATION OR ORGANIZATION) NUMBER) IDENTIFICATION NO.)
10500 WESTOFFICE DRIVE, SUITE 200
HOUSTON, TEXAS 77042-5391
(ADDRESS OF PRINCIPAL
EXECUTIVE OFFICES)
AND ZIP CODE)
(713) 785-7790
(REGISTRANT'S TELEPHONE NUMBER,
INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS
The information set forth in the press release of the registrant dated
July 14, 1999, which is filed as an exhibit hereto, is incorporated hereby
reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(C) EXHIBITS
Exhibit 99(a) -- Press release issued by the registrant dated
July 14, 1999.
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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 hereunto duly authorized.
TECH-SYM CORPORATION
Date: July 16, 1999
By: /s/ RAY F. THOMPSON
Ray F. Thompson
VICE PRESIDENT AND CHIEF FINANCIAL
OFFICER
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EXHIBIT INDEX
EXHIBIT NO.
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Exhibit 99(a) -- Press release issued by the registrant dated
July 14, 1999.
EXHIBIT 99
TECH-SYM CORPORATION EXPANDS SIZE OF BOARD
Houston, Texas, July 14, 1999--Tech-Sym Corporation (NYSE:TSY) announced
today that its Board of Directors has unanimously approved the expansion of the
size of the Board from eight to ten positions and the appointment of Warren G.
Lichtenstein and James Henderson to fill the newly created director positions.
Mr. Lichtenstein, 34, is the Chairman of the Board, Secretary and the
Managing Member of Steel Partners, L.L.C., the general partner of Steel Partners
II L.P., which currently owns approximately 9% of the Company's common stock.
Mr. Lichtenstein is a director of the following publicly held companies: Gateway
Industries, Inc. (OTCBB:GWAY), WebFinancial Corporation (OTCBB:WEFN), PLM
International, Inc. (AMEX: PLM), and Saratoga Beverage Group, Inc.
(Nasdaq:TOGA). Recently, Mr. Lichtenstein served as Chairman of the Board of
Aydin Corporation until its sale to L-3 Communications Corporation in April
1999.
Mr. Henderson, 40, is a consultant to Steel Partners II, L.P. Prior to
joining Steel Partners, Mr. Henderson was employed in various positions with
Aydin Corporation, which included a tenure as president and Chief Operating
Officer from October 1998 until its sale to L-3. Prior to his employment with
Aydin, Mr. Henderson was employed as an executive with UNISYS Corporation.
Commenting on the appointments, J. Michael Camp, President and Chief
Executive Officer stated, "We are pleased to have both Mr. Lichtenstein and Mr.
Henderson join our Board. Mr. Lichtenstein brings financial and investment
experience to the Company as well as operational expertise. At the same time,
Mr. Henderson brings to our Company his knowledge of the defense electronics
industry as well as his strategic planning and implementation skills. We expect
to work together with the goal of consistently improving Tech-Sym's operating
and financial results and shareholder value."
Tech-Sym Corporation is a high technology company that designs, develops
and manufactures electronic systems and components used in diverse markets
including communications, defense systems and environmental radar systems.
FORWARD-LOOKING STATEMENTS IN THIS RELEASE ARE MADE PURSUANT TO THE SAFE
HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
INVESTORS ARE CAUTIONED THAT ALL FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND
UNCERTAINTIES, INCLUDING, WITHOUT LIMITATION, RISKS ASSOCIATED WITH THE
UNCERTAINTY OF MARKET ACCEPTANCE OF THE COMPANY'S PRODUCTS, LIMITED NUMBER OF
CUSTOMERS, AS WELL AS RISKS OF DOWNTURNS IN ECONOMIC CONDITIONS GENERALLY, RISKS
ASSOCIATED WITH COMPETITION AND COMPETITIVE PRICING PRESSURES, AND OTHER RISKS
DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
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