AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 8, 1999.
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): June 25, 1999
DELCO REMY INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-13683 35-1909253
(State or other jurisdiction of (Commission file number) (IRS employer identification
incorporation) number)
2902 ENTERPRISE DRIVE
ANDERSON, INDIANA 46013
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (765) 778-6499
NOT APPLICABLE
(Former name or former address, if changed since last report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On June 25, 1999, Delco Remy Hungary RT, a majority owned subsidiary of Delco
Remy International, Inc. (the "Company"), purchased 31% of the capital shares of
Remy Korea Ltd. ("Remy Korea") from certain shareholders for approximately
$10,700,000 in cash. The purchase was funded through proceeds from the Company's
Senior Credit Facility. This investment increases the Company's ownership
position in Remy Korea to 81%. During fiscal year 1997, the Company acquired a
50% interest in Remy Korea for approximately $4,800,000. Effective June 25,
1999, the Company will account for Remy Korea as a consolidated subsidiary. It
was accounted for under the equity method prior to that date.
Remy Korea is a manufacturer of automotive starter motors and parts for the U.S.
original equipment market, as well a customers in Asian markets. The Company
does not currently anticipate any significant changes in the operation of the
business of Remy Korea.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements of Business Acquired
As of the date of filing of this Current Report on Form 8-K, it is impracticable
for the Registrant to provide the financial statements required by this Item
7(a). In accordance with Item 7(a)(4) of Form 8-K, such financial statements
shall be filed by amendment to this Form 8-K no later than September 8, 1999.
(b) Pro Forma Financial Information
As of the date of filing of this Current Report on Form 8-K, it is impracticable
for the Registrant to provide the pro forma financial information required by
this Item 7(b). In accordance with Item 7(b) of Form 8-K, such financial
statements shall be filed by amendment to this Form 8-K no later than September
8, 1999.
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.
DELCO REMY INTERNATIONAL, INC.
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(Registrant)
Date: July 8, 1999 By: /s/David L. Harbert
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David L. Harbert
Executive Vice President and
Chief Financial Officer
Date: July 8, 1999 By: /s/David E. Stoll
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David E. Stoll
Vice President and Controller
Chief Accounting Officer