-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HaN301Lsryzpx+49xOAK5A3ezhLfhYYRj6vcAms9BN82VC+SkihxTcef1MWlH/ap 49tx/3ZWiMHb/OpzGd9ZNA== 0000930661-98-000194.txt : 19980203 0000930661-98-000194.hdr.sgml : 19980203 ACCESSION NUMBER: 0000930661-98-000194 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980130 ITEM INFORMATION: FILED AS OF DATE: 19980202 SROS: NYSE SROS: PCX FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZURN INDUSTRIES INC CENTRAL INDEX KEY: 0000109446 STANDARD INDUSTRIAL CLASSIFICATION: COGENERATION SERVICES & SMALL POWER PRODUCERS [4991] IRS NUMBER: 251040754 STATE OF INCORPORATION: PA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05502 FILM NUMBER: 98519040 BUSINESS ADDRESS: STREET 1: 14801 QUORUM DRIVE CITY: ADDISON STATE: TX ZIP: 75240 BUSINESS PHONE: 9725602000 MAIL ADDRESS: STREET 1: 14801 QUORUM DRIVE CITY: ADDISON STATE: TX ZIP: 75240-7584 8-K 1 CURRENT REPORT FORM 8-K CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 January 30, 1998 ZURN INDUSTRIES, INC. IRS Employer State of Commission Identification Incorporation File Number Number - ------------- ----------- -------------- Pennsylvania 1-5502 25-1040754 Address and Telephone Number ---------------- 14801 Quorum Drive Addison, Texas 75240-7584 972-560-2000 -1- ITEM 5 - OTHER EVENTS The Company's news release dated January 30, 1998 announcing that the United States Bankruptcy Court for the Eastern District of Texas has confirmed the Chapter 11 bankruptcy Plan of Reorganization filed by United States Brass Corporation is incorporated herein by reference. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ZURN INDUSTRIES, INC. January 30, 1998 /s/ George W. Hanthorn ------------------------------ George W. Hanthorn Vice President- General Counsel and Secretary EXHIBIT INDEX 20 Other Documents or Statements to Security Holders ------------------------------------------------- News Release dated January 30, 1998 -2- EX-20 2 PRESS RELEASE EXHIBIT 20 FOR IMMEDIATE RELEASE --------------------- January 30, 1998 ZURN ANNOUNCES US BRASS REORGANIZATION PLAN CONFIRMATION - -------------------------------------------------------- Dallas, TX...Zurn Industries, Inc. (NYSE:ZRN) announced today that the United States Bankruptcy Court for the Eastern District of Texas has confirmed the Chapter 11 bankruptcy Plan of Reorganization filed by United States Brass Corporation (US Brass). Eljer Plumbingware, Inc. (formerly, Eljer Manufacturing, Inc.), parent corporation of US Brass, and Eljer Industries, Inc., owner of Eljer Plumbingware and a subsidiary of Zurn, also were proponents of the Plan. The confirmed Plan establishes the Brass Trust to pay claims related to US Brass polybutylene plumbing systems. The Brass Trust will be funded by an amount equal to any amounts US Brass and the Eljer entities eventually recover from their insurance carriers, and approximately $53.4 million in cash and a $20 million noninterest bearing note payable over ten years. The Plan also provides for the payment of all other unsecured claims. In connection with confirming the Plan, the Bankruptcy Court also approved settlements between US Brass, the Eljer entities, Shell Oil Company and Hoechst Celanese Corporation (each suppliers of resin used by US Brass in the manufacture of polybutylene plumbing systems), and the Cox Class, a certified, nationwide class of polybutylene plumbing claimants. As a result of the confirmation of the Plan, US Brass will remain a wholly-owned subsidiary of Eljer Plumbingware and future claims related to polybutylene plumbing against US Brass, Eljer Plumbingware and Eljer Industries will be enjoined and channeled to the Brass Trust. Commenting on the Court's decision, Chairman Robert R. Womack said: "We are delighted by the decision of the Bankruptcy Court. The Plan of Reorganization that the Court confirmed contains the same financial terms on which Zurn made the decision to acquire Eljer Industries in December 1996. We are pleased that this event is behind us and we look forward to fully integrating US Brass into the Zurn operations." It is expected that the Bankruptcy Court will sign the Confirmation Order next week and that the Plan of Reorganization will become effective prior to March 31, 1998. ****** Contact: Steve Adams ZURN INDUSTRIES, INC. Dallas, TX 972/560-2306 -----END PRIVACY-ENHANCED MESSAGE-----