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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 April 11, 1995 Commission file number 0-784
DETREX CORPORATION
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(Exact name of registrant as specified in its charter)
Michigan 38-0480840
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
24901 Northwestern Hwy, Suite 500, Southfield, MI 48075
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (810) 358-5800
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Securities registered pursuant to section 12(b) of the Act:
Name of each exchange on
Title of each class which registered
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None None
Securities registered pursuant to Section (g) of the Act:
Common Capital Stock, $2 Par Value
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(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months and (2) has been subject to such filing
requirements for the past 90 days.
YES X NO
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Item 5. OTHER EVENTS
The registrant issued the following press release on April 11, 1995:
Detrex Corporation announced that Joseph L. Wenzler has resigned today
as President, Chief Executive Officer and a Director in order to pursue other
interests. The Board of Directors today elected William C. King as interim
President and Chief Executive Officer.
Mr. King was President and Chief Operating Officer of Masland
Industries, a public company and tier 1 supplier to the automobile industry,
from 1992 to mid-1994, when he retired. From 1974 to 1992 Mr. King was
employed by Bendix Corporation or its successor, Allied Signal, Inc. From 1989
to 1992 he served as Vice President and Group Executive in charge of the Bendix
Automotive Systems Group.
A Detrex spokesman said: "We view Mr. King's election as a very
positive step. His long-term involvement with the automobile industry and
experience as a senior manager of large operations are expected to help the
Company's continuing recovery efforts. He will assist the Board in its search
for a permanent President and Chief Executive Officer and expects to have an
ongoing involvement with the Company, its Board and its management."
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
(1) Text of Press Release dated April 11, 1995 of Detrex
Corporation
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.
DETREX CORPORATION
GERALD J. ISRAEL
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Gerald J. Israel
Vice President, Treasurer and
Chief Financial Officer
Dated: April 11, 1995
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PRESS RELEASE (EXHIBIT - Item 7(c)(1))
DETREX CORPORATION - (NASDAQ-DTRX) APRIL 11, 1995
P.O. BOX 5111, SOUTHFIELD, MICHIGAN 48086-5111
CONTACT: GERALD J. ISRAEL, VICE PRESIDENT - FINANCE
PHONE: (810) 358-5800
FAX: (810) 358-5803
FOR IMMEDIATE RELEASE:
DETREX CORPORATION ANNOUNCED THAT JOSEPH L. WENZLER HAS RESIGNED TODAY AS
PRESIDENT, CHIEF EXECUTIVE OFFICER AND A DIRECTOR IN ORDER TO PURSUE OTHER
INTERESTS. THE BOARD OF DIRECTORS TODAY ELECTED WILLIAM C. KING AS INTERIM
PRESIDENT AND CHIEF EXECUTIVE OFFICER.
MR. KING WAS PRESIDENT AND CHIEF OPERATING OFFICER OF MASLAND INDUSTRIES, A
PUBLIC COMPANY AND TIER 1 SUPPLIER TO THE AUTOMOBILE INDUSTRY, FROM 1992 TO
MID-1994, WHEN HE RETIRED. FROM 1974 TO 1992 MR. KING WAS EMPLOYED BY BENDIX
CORPORATION OR ITS SUCCESSOR, ALLIED SIGNAL, INC. FROM 1989 TO 1992 HE SERVED
AS VICE PRESIDENT AND GROUP EXECUTIVE IN CHARGE OF THE BENDIX AUTOMOTIVE
SYSTEMS GROUP.
A DETREX SPOKESMAN SAID: "WE VIEW MR. KING'S ELECTION AS A VERY POSITIVE STEP.
HIS LONG TERM INVOLVEMENT WITH THE AUTOMOBILE INDUSTRY AND EXPERIENCE AS A
SENIOR MANAGER OF LARGE OPERATIONS ARE EXPECTED TO HELP THE COMPANY'S
CONTINUING RECOVERY EFFORTS. HE WILL ASSIST THE BOARD IN ITS SEARCH FOR A
PERMANENT PRESIDENT AND CHIEF EXECUTIVE OFFICER AND EXPECTS TO HAVE AN ONGOING
INVOLVEMENT WITH THE COMPANY, ITS BOARD AND ITS MANAGEMENT."
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