Printer Friendly

BWIP HOLDING FILES SECONDARY PUBLIC OFFERING OF CLASS A COMMON STOCK

 BWIP HOLDING FILES SECONDARY PUBLIC OFFERING OF CLASS A COMMON STOCK
 LONG BEACH, Calif., Jan. 21 /PRNewswire/ -- BWIP Holding, Inc. (NASDAQ-NMS: BWIP), the parent company for BW/IP International, Inc., announced today that it has filed with the Securities and Exchange Commission a registration statement relating to a secondary public offering of 5,500,000 shares of its Class A common stock (excluding underwriters' overallotment of 825,000 shares). Of these shares, 4,400,000 will be offered in the United States and 1,100,000 shares will be offered in a concurrent international offering outside the United States.
 Goldman, Sachs & Co. and Donaldson, Lufkin & Jenrette Securities Corporation will act as representatives of the U.S. underwriters with respect to the U.S. offering. Goldman, Sachs International Limited and Donaldson, Lufkin & Jenrette Securities Corporation will act as representatives of the international underwriters with respect to the international offering.
 On Jan. 20, 1992, the last reported sale price of the Class A common stock as quoted through the NASDAQ National Market System was $23.75.
 All of the shares to be offered will be sold by selling stockholders, some of whom are expected to be management investors. It is expected that no senior management investor will sell in excess of 19 percent of his shares. It is anticipated that the offering will commence in February 1992.
 The company is a worldwide supplier of advanced technology fluid transfer and control equipment, systems and services. Major product lines include highly engineered and standard centrifugal pumps, mechanical seals and seal support systems, and pneumatic and hydraulic control systems for tactical missiles and aircraft.
 The company is a wholly owned subsidiary of BWIP Holding, Inc., a company formed in 1987 to acquire businesses formerly operated by Borg-Warner Corporation in a leveraged purchase by Clayton & Dubilier, Inc., and the company's management. Clayton & Dubilier, Inc., is a New York-based private investment firm that has acquired 16 businesses with combined sales of approximately $10 billion since its inception in 1978.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of the prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, N.Y., 10004, or from Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, N.Y., 10005.
 -0- 1/21/92
 /CONTACT: Dan Peoples of BWIP Holding, 619-552-1456/
 (BWIP) CO: BWIP Holding, Inc. ST: California IN: SU: OFR


FC-TS -- NY008 -- 1658 01/21/92 09:08 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 21, 1992
Words:492
Previous Article:ATI MEDICAL ANNOUNCES INJUNCTION FILED BY KINETIC THERAPEUTIC SERVICES
Next Article:CHIPS AND TECHNOLOGIES INC. ANNOUNCES CORPORATE RESTRUCTURING AND INCREASED INVENTORY RESERVES


Related Articles
BWIP HOLDING INC. WITHDRAWAL OF REGISTRATION REQUEST RELATING TO CLASS A COMMON STOCK
BWIP HOLDING INC. ANNOUNCES 1991 EARNINGS AND SALES RESULTS
BWIP HOLDING INC. ANNOUNCES FIRST QUARTER SALES AND EARNINGS INCREASE
BWIP HOLDING INC. INCREASES DIVIDEND AND DECLARES SECOND QUARTER PAYOUT
BWIP HOLDING INC. ANNOUNCES SECOND QUARTER SALES AND EARNINGS RESULTS
BWIP HOLDING INC. FILES SECONDARY PUBLIC OFFERING OF 4,500,000 SHARES OF CLASS A COMMON STOCK
SECONDARY OFFERING OF BWIP HOLDING INC. CLASS A COMMON STOCK PRICED AT $24 PER SHARE
BWIP HOLDING INC. COMPLETES SECONDARY OFFERING OF CLASS A COMMON STOCK
BWIP HOLDING INC. ADOPTS STOCK PURCHASE RIGHTS PLAN AND DECLARES DIVIDEND OF NEW PREFERRED STOCK PURCHASE RIGHTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters