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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): NOVEMBER 3, 1999
AEARO CORPORATION
(Exact name of Registrant as specified in charter)
DELAWARE 0-26942 13-3840450
(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification no.)
5457 WEST 79TH STREET, INDIANAPOLIS, INDIANA 46268
(Address of principal executive offices) (Zip Code)
(317) 692-6666
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
Acquisition of Norhammer Limited. On November 1, 1999, Aearo
Corporation issued the following press release:
ACQUISITION POSITIONS AEARO COMPANY FOR GROWTH
INDIANAPOLIS (November 1, 1999) - Aearo Company today announced that it has
acquired Ontario-based Norhammer Limited. The acquisition will enable Aearo to
increase its share in the rapidly growing market for products that allow for
communication in noisy environments.
Aearo, with sales of $292 million in 1998, is one of the world's leading
suppliers of hearing protection, prescription and non-prescription safety
eyewear, face protection, head protection, respiratory protection and first aid
products. Its products are sold under the EAR(R), AOSafety(R) and Peltor(R)
brand names and are used in manufacturing, construction, mining, transportation,
public utilities industries, the military, and other potentially hazardous
environments. Aearo is also the leading supplier of personal protective
equipment to the rapidly growing consumer market. Aearo has nine manufacturing
locations worldwide and are all ISO 9000 certified, as is the automated
distribution center in Indianapolis.
Norhammer, based in Ontario, Canada, is the market leader in the earmuff and
communication headset segments in Canada and has been in operation for more than
two decades. It has been the exclusive distributor of Aearo's Peltor(R)-brand
products in Canada and had annual sales of Canadian $6.2 million in its last
fiscal year. The incremental impact of this acquisition on Aearo's sales for
that same time period would have been somewhat less due to the distributor
relationship that has existed between the two companies. Peltor(R) earmuffs and
communication headsets, manufactured in Sweden and distributed around the world,
are known for excellence in design, comfort and noise reduction.
Norhammer specializes in adapting Peltor(R) products for the US and Canada, by
linking these products to two-way radios (made by such companies as Motorola and
Ericsson) and cell phones (made by such companies as Nokia and Motorola). It
then provides after-sales service.
"Norhammer brings product development, technical selling, and after-sales
service capabilities to Aearo that will benefit our customers in the active
hearing protection market and position us to grow in this business in North
America," said Michael McLain, president and chief executive officer of Aearo
Company. "This acquisition will create Norhammer Peltor Ltd., a wholly-owned
subsidiary with headquarters in Gravenhurst, Canada. It will conduct its
business as Peltor Communications."
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James D. Hall, Aearo's chief marketing officer and vice president of marketing
for North America, will lead this new effort. Norhammer's employees will become
employees of Aearo Canada Ltd. Rudi Pavlik, a partner in Norhammer, will become
general manager of Norhammer Peltor. Mike Cimino has been named director of
operations and Fredrik Lindgren, Ph.D., has been named director of sales and
marketing.
"Peltor Communications will give Aearo direct and immediate access to the
two-way radio channel," said Hall. "Norhammer has long-standing relationships
with radio dealers in Canada, including an agreement with Motorola. As this
segment continues to grow, we will be well-positioned to serve customers in
North America with products that give people the ability to effectively
communicate in noisy environments."
The terms of the acquisition were not disclosed.
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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 thereunto duly authorized.
Date: November 3, 1999 AEARO CORPORATION
By: /s/ Bryan J. Carey
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Bryan J. Carey
Vice President, Chief Financial Officer,
Treasurer and Assistant Secretary