SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Filed pursuant to Section 12, 13, or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report June 25, 1996
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(Date of earliest event reported)
TOKHEIM CORPORATION
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(Exact name of registrant as specified in its charter)
Indiana 1-6018 35-0712500
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(State of Incorporation) (Commission File Number) (I.R.S. Employer I.D. No.)
10501 Corporate Drive, P.O. Box 360, Fort Wayne, Indiana 46801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (219) 470-4600
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The undersigned registrant hereby reports as to the following matters:
Item 5: Other Events
On June 25, 1996, Tokheim Corporation announced the signing of an agreement to
acquire the petroleum dispensing marketing and services business of Paris,
France-based Sofitam International in a transaction having an aggregate
purchase price of approximately $108 million, subject to post-closing
adjustments.
Following the completion of the acquisition, Tokheim believes it will be the
world's largest independent designer, manufacturer and servicer of electronic
and mechanical petroleum dispensing marketing systems, including service
station equipment, point-of-sale control systems and cash- and credit card-
activated transaction systems. The combined entity will have facilities
throughout Europe, the United Kingdom, Africa, the United States and Canada.
The acquisition accentuates the complementary nature of Tokheim's and
Sofitam International/Satam's technologies, product offerings, service
facilities, where Sofitam International/Satam brings a strong, well deserved
reputation, and the contiguous areas of the world in which each company
successfully markets its products.
Sofitam International has a very experienced operating management group in
place that shares Tokheim's perspective on the heightened global
opportunities that could be realized by an alliance. Both companies
exemplify technical excellence in product quality and service leadership,
as well as a strong commitment to cost savings and manufacturing
efficiencies.
The two companies have enjoyed strong industry positions on two separate
continents, and the combination will consolidate each Company's respective
relative strengths in Northern and Southern Europe and Africa. In addition,
Sofitam represents a significant augmentation to Tokheim's recently
established strong base in Asia Pacific and Eastern and Central Europe.
By creating and combining an unparalleled global service network, the
combination creates a structure that is congruent with the globalization
strategies of the major oil company customers. It also creates the requisite
critical infrastructure to support broader and more advanced technological
development.
Sofitam International and Satam are highly respected names in
the petroleum dispensing industry with good management and Tokheim looks
forward to realizing the full potential of the global partnership. The
transaction is expected to close in Tokheim's fourth quarter of 1996.
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SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Tokheim Corporation
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(Registrant)
Date: July 9, 1996 DOUGLAS K. PINNER
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President and Chief Executive
Officer
Date: July 9, 1996 JOHN A. NEGOVETICH
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Vice President and Chief
Financial Officer
