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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): September 9, 1997
TCC INDUSTRIES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
TEXAS
(STATE OR OTHER JURISDICTION OF INCORPORATION)
1-7399 74-1366626
(COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
816 CONGRESS AVENUE
SUITE 1250
AUSTIN, TEXAS 78701
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE, INCLUDING ZIP CODE)
(512) 320-0976
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS
On September 9, 1997, the Registrant issued the press release attached
as Exhibit 99.1 regarding the stock market reaction to the Company's
announcement last week concerning its entry into the financial services and
Title 1 business.
On September 16, 1997, the Registrant issued the press release attached
as Exhibit 99.2 regarding Registrant's announcement that it has reached
agreement in principle to sell substantially all of the assets of one of its
subsidiaries, Meyer Machine Corporation, to Meyer Acquisition Corporation, Inc.
The purchaser's principle is Eugene Teeter the current President of Meyer
Machine.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 TCC Industries, Inc. Press Release dated September 9, 1997.
99.2 TCC Industries, Inc. Press Release dated September 16, 1997.
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
TCC Industries, Inc.
(Registrant)
Date: September 17, 1997 By: /s/ ROBERT THOMAJAN
----------------------
Robert Thomajan
President
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EXHIBIT INDEX
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<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
- ------- -----------
<S> <C>
99.1 TCC Industries, Inc. Press Release dated September 9, 1997.
99.2 TCC Industries, Inc. Press Release dated September 16, 1997.
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EXHIBIT 99.1
Austin, Texas (September 9, 1997)... TCC Industries, Inc. (NYSE:TEL)
Chairman, Walter DeRoeck and President, Robert Thomajan expressed surprise at
the extent of the stock market reaction to the Company's announcement last week
concerning its entry into the financial services and Title 1 business. They
noted that prior to the announcement, the daily volume of trading in the shares
of TCC had been quite low while since the announcement, approximately 900,000
shares had been traded. At the same time, in the same last three trading days,
the price of TCC shares had risen from about $2.40 to over $5.00. While they
both expressed optimism for the future of the Company, they pointed out that
there was a considerable task before them and that they were starting from a
base that had been weakened over the last several years by continued losses at
the Company's existing subsidiaries. Mr. DeRoeck declined comment on the
Company's plans for those subsidiaries and the substantial loss that had been
already reported this year.
The existing operating companies of TCC Industries, Inc. design and
manufacture specialized bulk material conveying and processing systems for the
food, pharmaceutical and chemical industries (the MEYER Group); and design and
distribute an extensive line of souvenirs, novelty and gift items for the
travel, tourism and entertainment industries (Allen-Lewis Manufacturing
Company).
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EXHIBIT 99.2
Austin, Texas (September 16, 1997)... TCC Industries, Inc. (NYSE:TEL)
announced that it has reached agreement in principle to sell all of the assets
of one of its subsidiaries, Meyer Machine Corporation, to Meyer Acquisition
Corporation, Inc., whose principle, Eugene Teeter, had been the President of
Meyer Machine, for $6 million cash plus the assumption of all of Meyer Machine
Corporation's liabilities and contract obligations. The termination will
result in a book loss of approximately $300,000. The sale, which has been
under active negotiation for the last several months, is scheduled for a prompt
closing.
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