-----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, NYsrSWtaKQXy7dpqI1igfDvoJhBobFMSf/fV1p+GAEJ20rgBhU0qO/X/DATGI0n9 jWBAXUBazuSfguMzi+J0fA== 0000096294-98-000041.txt : 19981209 0000096294-98-000041.hdr.sgml : 19981209 ACCESSION NUMBER: 0000096294-98-000041 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981207 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TANDYCRAFTS INC CENTRAL INDEX KEY: 0000096294 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 751475224 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07258 FILM NUMBER: 98765335 BUSINESS ADDRESS: STREET 1: 1400 EVERMAN PKWY CITY: FORT WORTH STATE: TX ZIP: 76140 BUSINESS PHONE: 8175519600 MAIL ADDRESS: STREET 1: 1400 EVERMAN PKWY CITY: FORT WORTH STATE: TX ZIP: 76140 8-K 1 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: December 7, 1998 Date of Earliest Event Reported: November 11, 1998 TANDYCRAFTS, INC. A DELAWARE CORPORATION 1-7258 75-1475224 ------ ---------- (Commission File Number) (IRS Employer Identification No.) 1400 Everman Parkway Fort Worth, Texas 76140 (817) 551-9600 ITEM 5. OTHER EVENTS ------------ (a) On November 11, 1998, Registrant issued a press release announcing that construction has begun on a new production facility for its Pinnacle Art & Frame division in Durango, Mexico. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS --------------------------------- (c) Exhibits. -------- Exhibit Number Description ------- ----------------------------------------- 99 Copy of press release announcing that construction has begun on a new production facility for its Pinnacle Art & Frame division in Durango, Mexico. 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 of the undersigned thereunto duly authorized. TANDYCRAFTS, INC. Date: December 7, 1998 By:/s/ Michael J. Walsh -------------------------- Michael J. Walsh President Date: December 7, 1998 By:/s/ James D. Allen -------------------------- James D. Allen Chief Financial Officer EX-99 2 For Immediate Release - --------------------- TANDYCRAFTS, INC. BREAKS GROUND ON NEW FRAME MANUFACTURING FACILITY IN DURANGO, MEXICO FT. WORTH, Texas (November 11, 1998) -- TANDYCRAFTS, INC. (NYSE: "TAC"), a manufacturer, wholesaler and retailer of specialty consumer and business products, today announced that construction has begun on a new production facility for its Pinnacle Art & Frame division in Durango, Mexico. Pinnacle Art and Frame is one of the world's leading manufacturer of frames, framed art and mirrors. In a recent groundbreaking ceremony attended by His Excellency Guerrero Mier, the Governor of Durango, and Hernandez Deras, Mayor of the City of Durango, Tandycrafts initiated construction of a $2.8 million manufacturing plant on a 27-acre site which is owned by the Company. Initial plans call for a 150,000 square-foot production facility on six acres, leaving substantial land available for future expansion. "This manufacturing plant represents a strategic investment by Tandycrafts which is designed to enhance Pinnacle's competitive position within the frame and wall decor market," stated Michael J. Walsh, President and Chief Executive Officer of Tandycrafts, Inc. "The facility, which should begin operating in the Spring of 1999, will allow Pinnacle to expand its production capacity on a very cost- effective basis. Total cost of the construction project should approximate $2.8 million, and we expect to realize an impressive return on our investment through increased production, reductions in overtime expenses, and improved manufacturing efficiencies." "We determined that Durango, with its proximity to the U. S. cities of Laredo and El Paso, its access to regional timber production, a well-developed infrastructure, and a growth-oriented government, offered an ideal location for the new facility," continued Walsh. "The plant will be managed by Dieter Beick Schuett, who has lived in Mexico for over 28 years and has more than nine years' experience in building and managing production facilities in the frame and wall decor industry." Tandycrafts, Inc. manufactures, distributes and/or retails consumer and business products through four distinct product-related divisions: Frames and Wall Decor, Leather and Crafts, Office Supplies, and Novelties and Promotional. Its products are marketed and sold through various channels, including direct-to- consumer (e.g., retail stores, mail order, the Internet) and wholesale distribution (e.g., direct sales force, telemarketing, outside sales representatives). The Company is headquartered in Ft. Worth, Texas and its common stock is listed on the New York Stock Exchange under the ticker symbol "TAC". THIS PRESS RELEASE INCLUDES STATEMENTS THAT MAY CONSTITUTE "FORWARD- LOOKING" STATEMENTS, USUALLY CONTAINING THE WORDS "BELIEVE", "ESTIMATE", "PROJECT", "EXPECT" OR SIMILAR EXPRESSIONS. THESE STATEMENTS ARE MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS INHERENTLY INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FORWARD-LOOKING STATEMENTS. FACTORS THAT WOULD CAUSE OR CONTRIBUTE TO SUCH DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO, CONTINUED ACCEPTANCE OF THE COMPANY'S PRODUCTS IN THE MARKETPLACE, COMPETITIVE FACTORS, DEPENDENCE UPON THIRD-PARTY VENDORS, AND OTHER RISKS DETAILED IN THE COMPANY'S PERIODIC REPORT FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. BY MAKING THESE FORWARD-LOOKING STATEMENTS, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE STATEMENTS FOR REVISIONS OR CHANGES AFTER THE DATE OF THIS RELEASE. For further information, please contact: James Allen, Chief Financial Officer at (817) 551-9600 or R. Jerry Falkner, CFA, Investor Relations Counsel at (800) 377-9893 -----END PRIVACY-ENHANCED MESSAGE-----