SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 14 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) August 27, 1997
MASTEC, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-3797 59-1259279
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
3155 N.W. 77th Avenue, Miami, Florida 33122-1205
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (305) 599-1800
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events
On August 27, 1997, MasTec, Inc. announced that the Macri Group, one
of the largest commercial groups in Argentina, had agreed to be MasTec's
new 50% partner in Sintelar, S.A., MasTec's Argentinean telecommunications
construction subsidiary. Iecsa S.A., a subsidiary of SOCMA-Sociedad Macri,
will acquire the 50% interest for cash and Iecsa's existing
telecommunications infrastructure business, which will be merged into
Sintelar. The agreement between MasTec and the Macri Group also provides
that the two companies will pursue additional opportunities throughout
South America.
On September 3, 1997, MasTec, Inc. announced that its Spanish
subsidiary, Sintel, S.A., had petitioned the Spanish labor authorities to
approve a restructuring of Sintel's work force. The proposed restructuring
would result in approximately 1,400 of Sintel's workers being removed from
payroll and approximately 1,200 being rehired at lower cost either as
independent contractors or as employees of other Sintel non-union
affiliates. The petition only involves union workers principally in
Sintel's outside plant division servicing Telefonica de Espana, which
workers currently account for less than fifty percent of that division's
revenue.
On September 8, 1997, MasTec, Inc. announced that it had acquired
AIDCO, Inc. a company engaged in the installation and maintenance of voice,
date and video local-area networks. AIDCO operates primarily in the Western
and Midwestern states and is one of two master resellers of Sumitomo
Electric Lightwave FutureFlex air-blown fiber optic cabling systems,
providing technical support and product delivery throughout the United
States, Canada, and Mexico.
The Company has issued press releases announcing the foregoing events,
copies of which are attached as exhibit 99.1 and is incorporated herein by
reference.
Item 7. Financial Statements and Exhibits.
(c)
99.1 Press release dated August 27, 1997.
Press release dated September 3,1997.
Press release dated September 8, 1997.
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.
Date: September 8, 1997. /s/ Edwin D. Johnson
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Edwin D. Johnson
Senior Vice President-
Chief Financial Officer
(Principal Financial Officer
and Authorized Officer)