SECURITIES AND EXCHANGE COMMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of Earliest Event Reported): August 31, 2001
SONICS & MATERIALS, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
0-20573 06-0854713
(Commission File Number) (I.R.S. Employer Identification No.)
53 Church Hill Road
Newtown, CT
(Address of Principal Executive Offices)
06470
(Zip Code)
(203) 270-4600
(Registrant's Telepone Number, including area code)
Item 5. Other Events
On August 30, 2001, the Registrant issued the following press release:
SONICS & MATERIALS ANNOUNCES SALE-LEASEBACK OF NEWTOWN,
CONNECTICUT MANUFACTURING FACILITY
Newtown, Connecticut, August 30, 2001 - Sonics & Materials, Inc. (OTCBB: SIMA)
announced that it has sold its 64,000 square foot manufacturing facility,
located in Newtown, Connecticut, to Acme Realty, Inc. for $4,000,000. Sonics
anticipates that it will realize an estimated gain of $300,000 as a result of
the sale.
Upon the completion of the sale, Sonics signed a ten year triple net lease with
Acme Realty, with an option to renew the lease for two additional five year
periods. Sonics presently occupies approximately 58,363 square feet of the
building, and will remain in that space for the first year of the lease. Sonics
will occupy approximately 44,500 square feet of the facility by the beginning of
the second year of the lease.
Sonics purchased the property in 1997 and conducted an extensive renovation,
turning it into a state of the art manufacturing facility. Mr. Robert Soloff,
president and chief executive officer of Sonics, stated, "By originally
purchasing this property, Sonics was able to design a facility specifically
tailored to its needs as a manufacturer of plastics assembly and liquid
processing equipment. The sale-leaseback with Acme Realty permits us to remain
in the facility, while profiting from its sale."
Sonics manufactures ultrasonic welding equipment, vibration welding equipment,
spin welding equipment, and hot plate welding equipment, all of which are used
in the bonding of plastics. The Company also manufactures ultrasonic liquid
processors. The Company's equipment is installed at locations around the world,
serving such diverse industries as automotive, electronics, textiles, medical
devices, packaging and a wide range of other manufacturing and research
applications. Its headquarters are in Newtown, Connecticut. The Company also has
a division in Pennsylvania, and a branch office in Gland, Switzerland. The
Sonics website can be found at www.sonicsandmaterials.com.
Sonics maintains that any statements that are not of historical fact are
forward-looking statements that are subject to a number of important risks and
uncertainties that could cause actual results to differ materially.
Specifically, any forward-looking statements related to Sonics' objectives of
future growth, profitability and financial returns are subject to a number of
risks and uncertainties, including, but no limited to, risks related to a
growing market demand for Sonics' existing and new products, continued growth in
sales and market share of Sonics products, pricing, market acceptance of
existing new
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 thereuntoduly authorized.
Sonics &Materials, Inc.
(Registrant)
August 31, 2001 /s/ Lauren H. Soloff
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Lauren H. Soloff
Vice President, Corporate Secretary