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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): OCTOBER 2, 1997
KRUG INTERNATIONAL CORP.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
OHIO 0-2901 31-0621189
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(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
1290 HERCULES DRIVE, SUITE 120, HOUSTON, TEXAS 77058
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (281) 212-1233
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On October 2, 1997, Bradley International Holdings Limited (Bradley), a
wholly-owned United Kingdom-based subsidiary of KRUG International Corp. (the
"Corporation") acquired all the issued capital shares of Klippan Limited
(Klippan), a manufacturer of child safety seats and accessories in Scandinavia
and a significant brand in the United Kingdom, from Klippan Safety Ab, a
Swedish corporation. The purchase price of Klippan was approximately $3.7
million. Funds for the purchase were provided by National Westminster Bank
under the terms of the Corporation's U.K. bank line.
In connection with the acquisition of Klippan, the Corporation established
Bradley for its European housewares and child safety products operations. In
addition to Klippan, Bradley will own and operate Hago Products Limited, which
was acquired in October 1996 and Beldray Limited.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
10.(c) Exhibits - Share Purchase Agreement between Bradley International
Holdings Limited and Klippan Safety Ab relating to
Klippan Limited.
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.
KRUG International Corp.
Date: October 17, 1997
By: /s/ Robert M. Ellis
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Robert M. Ellis
Principal Accounting Officer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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10.(c) Share Purchase Agreement between Bradley International Holdings
Limited and Klippan Safety Ab relating to Klippan Limited.