SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
(Rule 14A-101)
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Definitive Proxy Statement [ ] Confidential, for Use of the
[ ] Definitive Additional Materials Commission Only (as permitted)
[X] Soliciting Material Pursuant to by Rule 14a-6(e)(2)
Rule 14a-11(c) or Rule 14a-12
UNITED INDUSTRIAL CORPORATION
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of filing fee (Check the appropriate box):
[x] No Fee Required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
(1) Title of each class of securities to which transaction applies:
Not applicable
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applicable.
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pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined): Not
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[ ] Fee paid previously with preliminary materials:
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
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previously. Identify the previous filing by registration statement number,
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NEWS RELEASE
UNITED INDUSTRIAL CORPORATION
570 LEXINGTON AVENUE, NEW YORK, NY 10022
CONTACT: SUSAN FEIN ZAWEL
VICE PRESIDENT CORPORATE COMMUNICATIONS
(212) 752-8787
UNITED INDUSTRIAL ACCELERATES PROCESS
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TO FIND BUYER FOR THE COMPANY
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NEW YORK, NY, AUGUST 26, 2002 -- United Industrial Corporation (NYSE: UIC)
today reported that, following the recently completed sale of its transportation
overhaul contracts, its Board of Directors has asked its financial advisor,
Wachovia Securities, to intensify and accelerate the process under which it is
seeking potential purchasers of the Company.
On April 8, 2002, the Company announced it had been working with Wachovia to
evaluate alternatives to further enhance shareholder value. These efforts have
included substantive discussions with potential purchasers of the Company. The
sale of its non-core transportation overhaul business on July 26, 2002 has put
the Company in a stronger position to engage in such discussions.
Richard R. Erkeneff, President and Chief Executive Officer commented, "United
Industrial's Board is committed to maximizing value for our shareholders, and we
believe that a sale of all or part of the Company is the best avenue for
achieving that objective. The divestiture of our transportation overhaul
business was a critical element in advancing the sale process, and we are moving
forward aggressively with this effort."
There can be no assurances that a transaction will be achieved nor as to the
terms thereof.
IMPORTANT INFORMATION
United Industrial Corporation has filed a preliminary proxy statement with the
Securities and Exchange Commission relating to its solicitation of proxies from
the shareholders of United Industrial Corporation with respect to United
Industrial Corporation's 2002 annual meeting of shareholders. United Industrial
Corporation advises security holders to read its definitive proxy statement when
it becomes available, because it will contain important information. United
Industrial Corporation's proxy statement and other relevant documents will be
available for free at www.sec.gov. You may also obtain a free copy of United
Industrial Corporation's definitive proxy statement, when it becomes available,
by writing to United Industrial Corporation, Attention: Secretary, 570 Lexington
Avenue, New York, New York 10022. Detailed information regarding the names,
affiliation and interests of individuals who may be deemed participants in the
solicitation of proxies of United Industrial Corporation' s shareholders is
available in the soliciting materials on Schedule 14A filed by United Industrial
Corporation with the SEC.
UNITED INDUSTRIAL CORPORATION is a company focused on the design and production
of defense, training and energy systems. Its products include unmanned aerial
vehicles, training and simulation systems, and automated aircraft test and
maintenance equipment. The Company also offers logistical/engineering services
for government -owned equipment and manufactures combustion equipment for
biomass and refuse fuels.
Except for the historical information contained herein, information set forth in
this news release may contain forward-looking statements subject to risks and
uncertainties which could cause the Company's actual results or performance to
differ materially from those expressed or implied in such statements.
The Company makes no commitment to update any forward-looking statement or to
disclose any facts, events, or circumstances after the date hereof that may
affect the accuracy of any forward-looking statement. For additional information
about the Company and its various risk factors, reference is made to the
Company's most recent Annual Report on Form 10-K as filed with the Securities
and Exchange Commission.
FOR MORE INFORMATION, PLEASE VISIT UNITED INDUSTRIAL'S
WEB SITE AT WWW. UNITEDINDUSTRIAL.COM
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