SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): September 5, 1997
IAT MULTIMEDIA, INC.
- ----------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
Delaware 0-22101 13-3920210
---------------------------- --------------------- ---------------------------------
(State or Other Jurisdiction (Commission File No.) (IRS Employer Identification No.)
of Incorporation)
Geschaftshaus Wasserschloss, Aarestrasse 17, Vogelsang-Turgi, Switzerland CH-5300
- -------------------------------------------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 011-41-56-223-5022
N/A
- ------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
IAT Multimedia, Inc. (the "Company") today announced that Mr. Reiner
Hallauer was appointed as Managing Director of IAT Deutschland, GmbH ("IAT
GmbH"), a subsidiary of the Company. Mr. Hallauer, a marketing consultant, is a
Director of the Company and has close to 30 years of experience within the
computer and telecommunications industry for companies such as Siemens Nixdorf
and Memorex Corporation, in marketing, sales, support, strategy and top
management. Mr. Hallauer replaces Mr. Wilhelm Gudauski who will be pursuing
other endeavors.
The Company is restructuring its workforce to eliminate future
duplication of cost, in particular in the sales and marketing organization in
light of potential acquisitions. Mr. Hallauer announced plans to reduce
marketing expenses at IAT GmbH including the termination of approximately 15 of
45 full-time employees at IAT GmbH. While this termination may require certain
severance payments under German labor law resulting in a short term increases
in expenses, the Company believes that the long term effect of this termination
will be a reduction in expenses for the Company as well as a better competitive
position. The Company has previously announced the signing of a Letter of
Intent regarding a possible acquisition of Trend Plus, a German corporation,
and continues to evaluate potential strategic partners of additional
applications and broader marketing of its technology. The Company may make
acquisitions, other investments or may enter into joint venture agreements for
strategic reasons.
- 1 -
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 thereto duly authorized.
IAT MULTIMEDIA, INC.
By: --------------------------------
Name: Dr. Viktor Vogt
Title: Chief Executive Officer
Date: September 4, 1997
- 2 -