Current Report Filing (8-k)
02 October 2014 - 6:26AM
Edgar (US Regulatory)
UNITED STATES
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 1, 2014
Dynamic Materials Corporation
(Exact Name of Registrant as Specified in its Charter)
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Delaware | | 0-8328 | | 84-0608431 |
(State or Other Jurisdiction of Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
5405 Spine Road
Boulder, Colorado 80301
(Address of Principal Executive Offices, Including Zip Code)
(303) 665-5700
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On October 1, 2014, Dynamic Materials Corporation (the “Company”), issued a press release announcing the sale of its AMK Technical Services business. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information provided in this Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, unless specifically stated so therein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number | | Description |
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99.1 |
| | Press Release, October 1, 2014. |
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.
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| DYNAMIC MATERIALS CORPORATION |
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Dated: October 1, 2014 | By: | /s/ Michael Kuta |
| | Michael Kuta |
| | Chief Financial Officer |
EXHIBIT INDEX
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Exhibit Number | | Description |
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99.1 |
| | Press Release, October 1, 2014. |
Exhibit 99.1
[Letterhead of DMC]
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FOR IMMEDIATE RELEASE: | CONTACT: |
| Pfeiffer High Investor Relations, Inc. |
| Geoff High |
| 303-393-7044 |
DYNAMIC MATERIALS ANNOUNCES SALE OF AMK TECHNICAL SERVICES
BOULDER, Colo. - October 1, 2014 - Dynamic Materials Corporation (DMC) (Nasdaq: BOOM), today announced the sale of its AMK Technical Services business to Air Industries Group (NYSE MKT: AIRI) for $6.8 million, effective today.
AMK, a non-core business of DMC that generated approximately 4% of the Company’s 2013 consolidated sales, provides advanced welding services to the aircraft engine, power turbine and oil and gas industries. Based in South Windsor, Connecticut, the business was acquired by DMC in 1998.
Kevin Longe, president and CEO of DMC, said, “This transaction allows us to enhance our operational and strategic focus on DMC’s primary NobelClad and DynaEnergetics businesses. It also positions AMK and its employees with a complementary and respected industrial business that serves many of the same end markets. I want to thank the entire AMK team for their efforts and achievements over the years, and we wish them well in their future with Air Industries.”
About Air Industries Group
Air Industries Group (AIRI) is an integrated manufacturer of precision equipment assemblies and components for leading aerospace and defense prime contractors. Based in Bay Shore, New York, the Company designs and manufactures flight critical products including flight safety parts, landing gear and components, arresting gear, flight controls, sheet metal fabrications and ground support equipment.
About DMC
Based in Boulder, Colorado, DMC serves a global network of customers in the energy, infrastructure and industrials markets through two core businesses: NobelClad and Oilfield Products. The NobelClad segment is the world’s largest manufacturer of explosion-welded clad metal plates, which are used to fabricate capital equipment utilized within various process industries and other industrial sectors. The Oilfield Products segment is comprised of DynaEnergetics, an international manufacturer and marketer of advanced explosive components and systems used to perforate oil and gas wells, and AMK Technical Services, which utilizes various specialized technologies to weld components for use in oilfield equipment, power-generation turbines, and commercial and military jet engines. For more information, visit the Company’s website at: http://www.dynamicmaterials.com.
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