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: August 3, 2020
(Date of earliest event reported)
GENCOR INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
5201 North Orange Blossom Trail, Orlando, Florida 32810
(Address of principal executive offices) (Zip Code)
(407) 290-6000
(Registrants telephone number, including area code)
Delaware | 001-11703 | 59-0933147 | ||
(State or other jurisdiction of incorporated or organization) |
Commission File Number |
(I.R.S. Employer Identification No.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered or to be registered pursuant to Section 12(b) of the Act
Title of Each Class |
Trading Symbol(s) |
Name of Exchange on
which | ||
Common Stock ($.10 Par Value) | GENC | NASDAQ Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01. OTHER EVENTS
On July 31, 2020, Gencor Industries, Inc. issued a News Release announcing it has signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo CE for an undisclosed price, subject to certain post-closing adjustments. A copy of the release is attached hereto as Exhibit 99.1 and is hereby incorporated into this Item 8.01 by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
99.1 | Press Release dated July 31, 2020 |
SIGNATURE
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.
GENCOR INDUSTRIES, INC. | ||||||
August 3, 2020 | By: | /s/ Eric E. Mellen | ||||
Eric E. Mellen, Chief Financial Officer |
Exhibit 99.1
GENCOR INDUSTRIES, INC. TO ACQUIRE BLAW-KNOX PAVER BUSINESS FROM VOLVO CE
July 31, 2020 (PRIME NEWSWIRE) - Gencor Industries, Inc., (Gencor) (NASDAQ:GENC) has announced that it has signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo CE. The Blaw-Knox business, name, and associated assets will transfer to Gencor, including the manufacturing production line currently located at Shippensburg Pennsylvania.
The deal, which is expected to be finalized in Gencors first quarter of fiscal 2021, will allow Gencor to manufacture and develop Volvo CEs current North American paver product line under the Blaw-Knox brand. Gencor is expected to continue marketing and servicing the Blaw-Knox paver line through selected Volvo CE dealers. Terms of the transaction have not been disclosed.
Brand with a long legacy
The Blaw-Knox brand dates back over a century, when in 1917 Blaw Collapsible Steel Centering Company merged with the Knox Pressed and Welded Steel Company. The firm made its first road paving equipment in 1929 and the brand has since gone on to build an enviable reputation in the paving segment in North America.
Gencor is a strong partner to take on the Blaw-Knox paver range, as it has extensive expertise in the asphalt industry and a good reputation for quality and customer success, commented Melker Jernberg, President of Volvo CE. We see this agreement as being a win-win for us and Gencor. It maintains a valuable product offer to Volvo CE customers, as well as securing dealer distribution and servicing of Blaw-Knox branded paver products in North America.
Marc G. Elliott, President & Director of Gencor also commented, saying: With our already strong position in the asphalt industry, this acquisition will afford Gencor access to the venerable brand of Blaw-Knox, and provide an entry into the hot mix paver segment. We are committed to the long-term growth and development of the Blaw-Knox brand.
Gencor Industries, Inc. is the leading manufacturer of asphalt plants, soil remediation plants, combustion, and heat transfer systems to the road and highway construction industry.
Contact: Eric Mellen, Chief Financial Officer
407-290-6000