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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): JUNE 6, 1997 (JUNE 6, 1997)
ENVIROTEST SYSTEMS CORP.
(Exact name of registrant as specified in its charter)
DELAWARE 0-21454 06-0914220
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
ENVIROTEST TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-57384-01, 033-75406-01 36-2680300
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
246 SOBRANTE WAY
SUNNYVALE, CALIFORNIA 94086
(408) 481-3900
(Address, including zip code, and telephone number, including area code of
registrant's principal executive offices)
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Item 5. Other Events
On June 6, 1997 Envirotest Systems Corp. (the "Company or Envirotest")
announced that it has signed an agreement with the State of Illinois to upgrade
the State's existing centralized auto emissions testing program to an enhanced
program. The agreement also extends the program term to 2006. Capital
expenditures required to implement the new program are expected to total
approximately $75 million.
Envirotest successfully operates an existing basic testing program in
Illinois which expires on June 30, 1997. Under the terms of the new contract,
Envirotest will continue to perform basic emissions testing throughout the
implementation phase of the new program. Enhanced testing will commence in early
1999. The Company will earn a portion of its contracted revenue during the
implementation period for performance of the basic test and other services
provided during this period. Revenues for the nine-year term are expected to
total approximately $385 million.
See the attached copy of the Company's press release.
The expected total program revenues of approximately $385 million
includes an amount not to exceed $48 million which will be paid to Envirotest by
the State during the course of the implementation of the program upgrade. These
payments may be applied toward the expenditures required to implement the
program.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrants have duly caused this report to be signed on their behalf by the
undersigned hereunto duly authorized.
ENVIROTEST SYSTEMS CORP.
ENVIROTEST TECHNOLOGIES, INC.
Dated: June 30, 1997 By: /s/ Raj Modi
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Name: Raj Modi
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[ENVIROTEST
SYSTEMS N E W S
LOGO]
Contact: Robert D. Siegfried
Adam Weiner
Kekst and Company
(212) 593-2655
ENVIROTEST SIGNS NEW NINE-YEAR CONTRACT WITH ILLINOIS
- ENVIROTEST TO UPGRADE AND OPERATE
EXISTING CENTRALIZED VEHICLE EMISSIONS TESTING PROGRAM -
FOR IMMEDIATE RELEASE
- ---------------------
Sunnyvale, CA (June 6, 1997) - Envirotest Systems Corp. (NASDAQ:ENVI) today
announced it has signed an agreement with the State of Illinois to upgrade the
State's existing centralized auto emissions testing program to an enhanced
program. The agreement also extends the program term to 2006. Capital
expenditures required to implement the new program are expected to total
approximately $75 million.
Envirotest successfully operates an existing basic testing program in Illinois
which expires on June 30, 1997. Under the terms of the new contract, Envirotest
will continue to perform basic emissions testing throughout the implementation
phase of the new program. Enhanced testing will commence in early 1999. The
Company will earn a portion of its contracted revenue during the implementation
period for performance of the basic test and other services provided during this
period. Revenues for the nine-year term are expected to total approximately $385
million.
Envirotest Systems Corp. is the largest provider of vehicle inspection services
in the country, and the only domestic company that provides vehicle inspection
services outside the United States.
This press release contains statements that are forward looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, which
represent the Company's expectations or beliefs concerning future events. The
Company cautions that these statements are further qualified by important
factors that could cause actual results to differ materially from those in the
forward looking statements. A number of such factors are set forth in the
Company's filings with the Securities and Exchange Commission, including the
Company's Annual Report on Form 10-K.
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