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 June 19, 2001 (June 18, 2001)
reported) ---------------------------------
ELECSYS CORPORATION
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(Exact name of registrant as specified in its charter)
KANSAS 0-22760 48-1099142
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
11300 West 89th Street, Overland Park, Kansas 66214
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including (913)-495-2614
area code ------------------------------------
Not applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events
On June 18, 2001, Elecsys Corporation, a Kansas corporation ("Elecsys"),
and Airport Systems International, Inc., a Kansas corporation ("ASII"), entered
into an Asset Purchase Agreement (the "Asset Purchase Agreement") with ASI
Newco, Inc., a Delaware corporation and a wholly-owned subsidiary of Alenia
Marconi Systems Limited ("Buyer"), to sell substantially all of the assets of
ASII, subject to the terms and conditions set forth in the Asset Purchase
Agreement (the "Transaction"). The purchase price is approximately $7.7 million
in cash and the assumption by Buyer of (i) approximately $1.1 million in
mortgage loan debt, and (ii) certain other liabilities of ASII incurred in the
ordinary course of business.
The Asset Purchase Agreement among ASII, Elecsys and Buyer and the press
release issued by Elecsys in connection with the Transaction are filed as
exhibits to this report and are incorporated herein by reference. The
description of the Transaction set forth herein does not purport to be complete
and is qualified by the provisions of the agreement noted above and attached
hereto.
Item 7. Financial Statements and Exhibits.
(c) EXHIBIT. The following exhibits are filed herewith:
10.1 Asset Purchase Agreement, dated June 18, 2001, by and among
Airport Systems International, Inc., Elecsys Corporation
and ASI Newco, Inc.
99.1 Press Release dated June 18, 2001.
SIGNATURE
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.
Date: June 19, 2001
ELECSYS CORPORATION
By: /s/ Thomas C. Cargin
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Thomas C. Cargin, Vice President
of Finance and Administration,
Secretary and Principal
Accounting Officer