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) July 31, 2001
--------------
RESERVE INDUSTRIES CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)
NEW MEXICO
---------------------------------------------
(State or other jurisdiction of incorporation)
0-3492 85-0128783
------------------------ ------------------------------------
(Commission File Number) (IRS Employer Identification Number)
20 First Plaza, Suite 308, Albuquerque, New Mexico 87102
-------------------------------------------------- ---------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (505) 247-2384
No Change
------------------------------------------------------------
(Former name or former address, if changed since last report)
ITEM 5. Other Events
Rossborough Manufacturing Co. L.P. (Rossborough), in which the
Registrant has a 44% equity interest, finalized the acquisition
of substantially all of the assets and certain of the liabilities
of Reactive Metals and Alloys Corporation (Remacor) of West
Pittsburgh, PA. Both companies service the global steel industry
by providing hot metal desulfurization, desulfurization
equipment, and metallurgical additives for secondary steel
refining, technology and field service. Other products and
services are also provided to the global die casting industry.
The acquisition entity is Rossborough-Remacor LLC, and the LLC
will also contain substantially all of Rossborough's assets and
liabilities. Rossborough-Remacor LLC will have global sales in
excess of $80 million and will be better able to compete in the
steel industry, which has been plagued by financial problems
related to over capacity. By consolidating the companies, the
LLC plans to lower its cost structure to the benefit of all
parties.
The purchase price for the Remacor assets was the assumption of
certain liabilities, a subordinated note in an amount equal to
$4,000,000 and a 35% membership interest in Rossborough-Remacor.
Gerald R. Zebrowski, President and CEO of Rossborough, will
retain the position of President and CEO of Rossborough-Remacor.
Joseph R. Jackman, President and CEO of Remacor, will be elected
Vice President and Chief Operating Officer of Rossborough-
Remacor.
Forward-Looking Statements. This release contains "forward-
looking statements", within the meaning of the Private Securities
Litigation Reform Act of 1995. "Forward-looking statements" are
statements such as those contained in projections, plans,
objectives, estimates, statements of future economic performance,
and assumptions related to any of the forgoing, and may be
identified by the use of forward-looking terminology, such as
"may", "expect", "anticipate", "estimate", "goal", "continued",
or other comparable terminology. By their very nature, forward-
looking statements are subject to known and unknown risks and
uncertainties relating to the Company's future performance that
may cause the actual results, performance or achievements of the
Company, or industry results, to differ materially from those
expressed or implied in such "forward-looking statements".
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 by the undersigned hereunto duly authorized.
Reserve Industries Corporation
(Registrant)
Date August 4, 2001 /s/ William J. Melfi
----------------------------
William J. Melfi
Vice President Finance