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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): August 18, 1997
LIBBEY INC.
(Exact name of registrant as specified in its charter)
Delaware 1-12084 34-1559357
(State of incorporation) (Commission File Number) (IRS Employer identification No.)
300 Madison Avenue
Toledo, Ohio 43604
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (419) 325-2100
Page 1 of 5
Exhibit Index is on page 3
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ITEM 5. OTHER EVENTS
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On August 15, 1997 Libbey Inc. (the "Company") through subsidiaries
signed definitive agreements to:
- acquire a 49% interest in the equity of Vitro's glass
tableware business ("Vitrocrisa")
- acquire Vitro's WorldCrisa subsidiary based in Dallas,
Texas and
- establish reciprocal distribution agreements.
The cash purchase price will approximate $100 million and will be
financed through the Company's $380 million amended revolving credit
facility, that terminates May, 2002. The purchase price was determined
through arm's length negotiations.
The Vitrocrisa business manufactures, markets and sells glass tableware
and industrial glassware (e.g. coffee pots, blender jars, etc.). Its
manufacturing facilities are based in Monterrey, Mexico, and it sells
its products internationally. WorldCrisa is an importer of metal
flatware, ceramic dinnerware and other tabletop products that sells
primarily to the foodservice industry in the United States. It is the
Company's intention to continue to operate this business in a similar
mannner.
Reciprocal distribution agreements will be established, whereby Libbey
becomes the distributor of Vitrocrisa glass tableware products in the
United States and Canada, and Vitrocrisa will become the distributor of
Libbey glass tableware products in Mexico, Central and South America.
(c) EXHIBITS
Exhibit
No. Description
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99 Text of Press Release dated August 18, 1997.
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.
LIBBEY INC.
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Registrant
Date: August 22, 1997 /s/ Kenneth G. Wilkes
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Kenneth G. Wilkes
Vice President, Chief Financial
Officer and Treasurer
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EXHIBIT INDEX
Sequentially
Exhibit Numbered
No Description Page
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99 Text of Press Release dated August 18, 1997 4