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 and Exchange Commission
Date of report: August 27, 1997
ELECTRIC & GAS TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
TEXAS 0-14754 75-0259192
(State or other juris- (Commission file) I.R.S. Employer Identif-
dicition of incorporation ication No.)
or organization)
13636 Neutron Road, Dallas, Texas 75244-4410
(Address of principal executive offices, including zip code)
Registrant telephone number (including area code) (972) 934-8797
Current report on Form 8-K
Page 1
FORM 8-K
ELECTRIC & GAS TECHNOLOGY, INC.
Item 2. Acquisition or Disposition of Assets.
Electric & Gas Technology, Inc. ("ELGT") signed a "Assets
Purchase Agreement" (Agreement) to sell 100% of its wholly-owned
subsidiary Logic Design Metals, Inc. ("Logic") on July 15, 1997.
The Agreement provided for an effective date of sale as of July
31, 1997 and was closed on August 18, 1997. Logic constituted
the Metal Fabrication segment of ELGT's business. The sale was
for approximately $21,000,000 in cash. The acquiring company was
Chatham Industries Inc. a privately owned business.
Sales, operating profits and identifiable assets for Logic
as of and for the years ended July 31, were as follows:
1997 1996 1995
Sales $17,000,000 $15,200,000 $14,100,000
Operating profits $2,500,000 $234,000 $800,000
Identifiable
Assets $9,300,000 $9,300,000 $9,900,000
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Item 7. Financial Statements and Exhibits.
10.37 Assets Purchase Agreement amoung
New Logic Design Metals Inc. of
Chatham Enterprises Inc., of
Chatham Technologies, Inc., Logic
Design Metals, Inc. and Precision
Techniques, Inc. and Electric & Gas
Technology, Inc. Dated July 15,
1997.
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.
ELECTRIC & GAS TECHNOLOGY, INC.
By: /s/ Edmund W. Bailey
Edmund W. Bailey
Vice President and CFO
Date: August 27, 1997
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INDEX TO EXHIBIT
Sequentially
Number
Exhibit No. Description
Page
10.37 Assets Purchase Agreement amoung New Logic Design
Metals Inc. of Chatham Enterprises Inc., of Chatham
Technologies, Inc., Logic Design Metals, Inc. and
Precision Techniques, Inc. and Electric & Gas
Technology, Inc. Dated July 15, 1997. 5-57
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