-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T1BjDfLZri2I3MYpSc0JS8epDmFginSH3CkN2ZzHOHzxFwXP62R57RsdUq/Cz4xA 9B+jzN++GpdBucpgTfTRsQ== 0000921895-97-000793.txt : 19971027 0000921895-97-000793.hdr.sgml : 19971027 ACCESSION NUMBER: 0000921895-97-000793 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19971024 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CTS CORP CENTRAL INDEX KEY: 0000026058 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 350225010 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-10982 FILM NUMBER: 97700070 BUSINESS ADDRESS: STREET 1: 905 W BLVD N CITY: ELKHART STATE: IN ZIP: 46514 BUSINESS PHONE: 2192937511 MAIL ADDRESS: STREET 1: 905 W BLVD NORTH CITY: ELKHART STATE: IN ZIP: 46514 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WHX CORP CENTRAL INDEX KEY: 0000106618 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 133768097 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 110 EAST 59TH ST CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2123555200 MAIL ADDRESS: STREET 1: 1134 MARKET STREET CITY: WHEELING STATE: WV ZIP: 26003 FORMER COMPANY: FORMER CONFORMED NAME: WHEELING PITTSBURGH CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: WHEELING PITTSBURGH STEEL CORP DATE OF NAME CHANGE: 19910130 FORMER COMPANY: FORMER CONFORMED NAME: WHEELING STEEL CORP DATE OF NAME CHANGE: 19690202 SC 13D 1 SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- SCHEDULE 13D (RULE 13D-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO 13D-2(A) (Amendment No. )(1) CTS CORPORATION - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, NO PAR VALUE PER SHARE - -------------------------------------------------------------------------------- (Title of Class of Securities) 126501 10 5 - -------------------------------------------------------------------------------- (CUSIP Number) ILAN K. REICH, ESQUIRE OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP 505 Park Avenue New York, New York 10022 (212) 753-7200 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 16, 1997 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box / /. Note. six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 9 Pages) - -------- (1) The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 2 of 9 Pages - -------------------------------- ----------------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WHX CORPORATION (E.I.N.: 13-3768097) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY EACH REPORTING ERSON WITH ------------------------------------------------------------------- 8 SHARED VOTING POWER -454,467-2 ------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER -454,467-(2) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 454,467(2) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6% (See Item 5) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC and CO ================================================================================ SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------- (2) By virtue of the fact that Wheeling Pittsburgh Capital Corp. is a wholly-owned subsidiary of WHX Corporation, WHX Corporation is deemed to share voting and dispositive power with Wheeling Pittsburgh Capital Corp. - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 3 of 9 Pages - -------------------------------- ----------------------------------- ================================================================================ 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) WHEELING PITTSBURGH CAPITAL CORP. (E.I.N.: 13-3723443) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OR ORGANIZATION DELAWARE - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY EACH REPORTING ERSON WITH ------------------------------------------------------------------- 8 SHARED VOTING POWER 454,4672 ------------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 454,467(2) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 454,467(2) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6% (See Item 5) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------ (2) By virtue of the fact that Wheeling Pittsburgh Capital Corp. is a wholly-owned subsidiary of WHX Corporation, WHX Corporation is deemed to share voting and dispositive power with Wheeling Pittsburgh Capital Corp. - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 4 of 9 Pages - -------------------------------- ----------------------------------- The following constitutes the Schedule 13D filed by the undersigned (the "Schedule 13D"). ITEM 1. SECURITY AND ISSUER. This statement relates to the common stock, no par value per share ("Common Stock"), of CTS Corporation, an Indiana corporation (the "Issuer"). The principal executive offices of the Issuer are located at 900 West Boulevard North, Elkhart, Indiana 46514. ITEM 2. IDENTITY AND BACKGROUND. Wheeling Pittsburgh Capital Corp., a Delaware corporation ("WPCC"), is a wholly owned subsidiary of WHX Corporation, a Delaware corporation ("WHX"). The principal office of WPCC and WHX is located at 110 East 59th Street, New York, New York 10022. WHX, through its subsidiaries, is the ninth largest domestic integrated steel manufacturer. WHX manufactures a wide variety of flat-rolled products for construction, container, converter/processor, steel service center, automotive and other markets as well as fabricated steel products for the construction, highway and agricultural markets. Flat-rolled products consist of a variety of sheet products, including hot-rolled, cold-rolled, galvanized and pre-painted products, and tin mill products. Fabricated steel products include roof deck, culvert, highway and other products. (d)-(e) During the last five years, neither WPCC, WHX nor, to the best knowledge of WPCC or WHX, any of the persons listed on Schedule I to this Schedule 13D (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The consideration for the 454,467 shares (the "CTS Shares") of Common Stock acquired by WPCC was 516,440 shares (the "Dynamics Shares") of the common stock, $.10 par value per share ("DCA Common Stock"), of Dynamics Corporation of America, a New York corporation ("DCA"). Pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of July 17, 1997 (the "Merger Agreement"), among DCA, the Issuer and CTS First Acquisition Corp., a New York corporation and wholly owned subsidiary of the Issuer ("Sub"), on October 16, 1997, DCA merged (the "Merger") with and into Sub, and each of the Dynamics Shares was converted into 0.88 fully paid and non-assessable shares of the - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 5 of 9 Pages - -------------------------------- ----------------------------------- common stock, no par value per share, of the Issuer. WHX had acquired the Dynamics Shares through open-market purchases and a tender offer in March and June, 1997, respectively. ITEM 4. PURPOSE OF TRANSACTION. The CTS Shares are being held for investment purposes. WHX fully supports the management and policies of CTS, and intends to vote the CTS Shares in accordance with the recommendations of the Board of Directors of CTS. WHX has orally agreed to provide CTS with advance notice of its intention to sell the CTS shares and to offer CTS an opportunity to purchase those shares. Other than as set forth herein, neither WPCC nor WHX has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) As of October 16, 1997, WPCC beneficially owned an aggregate of 454,467 shares of Common Stock, constituting approximately 8.6% of the shares of Common Stock outstanding. Such percentage is based upon a maximum of 5,260,514 shares of Common Stock outstanding (5,249,589 shares of Common Stock outstanding as of September 5, 1997 less 2,303,100 shares of Common Stock owned by DCA cancelled in the Merger plus a maximum of 2,314,025 shares of Common Stock issued in the Merger) as disclosed in the Registration Statement on Form S-4 of the Issuer as filed with the Securities and Exchange Commission on September 2, 1997. In the Merger, each share of DCA Common Stock not owned by the Issuer was, at the election of DCA shareholders, converted into either $58.00 in cash or 0.88 shares of Common Stock. The Issuer has announced a 3:1 stock split, effective for shareholders of record as of October 24, 1997. As a result of that action, WHX and WPCC will own 1,363,401 shares of the Issuer; however, its percentage ownership position will remain unchanged. (b) WPCC has the power to direct the vote and disposition of the CTS Shares. By virtue of the fact that WPCC is a wholly owned subsidiary of WHX, WHX is deemed to share voting and dispositive power of the CTS Shares with WPCC. (c) See Item 3 above. The Dynamics Shares were purchased prior to 60 days prior to the date hereof. (d) Not applicable. (e) Not applicable. - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 6 of 9 Pages - -------------------------------- ----------------------------------- ITEM 6. CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Other than as described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between WHX and WPCC or among WHX, WPCC and any other person, with respect to any securities of the Issuer. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. None. - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 7 of 9 Pages - -------------------------------- ----------------------------------- SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: October 23, 1997 WHX CORPORATION By: /S/STEWART E. TABIN ---------------------------- Stewart E. Tabin, Assistant Treasurer WHEELING PITTSBURGH CAPITAL CORP. By: /S/STEWART E. TABIN ----------------------------- Stewart E. Tabin Vice President - -------------------------------- ----------------------------------- CUSIP No. 126501 10 5 13D Page 8 of 9 Pages - -------------------------------- ----------------------------------- SCHEDULE I INFORMATION CONCERNING DIRECTORS AND EXECUTIVE OFFICERS OF WHX AND WPCC Directors and Executive Officers of WHX. The following table sets forth the name, business address, present principal occupation, and employment and material occupations, positions, offices, or employments for the past five years of certain directors, officers and employees of WHX. Unless otherwise indicated, the principal business address of each executive officer of WHX is 110 East 59th Street, New York, NY 10022 and each occupation set forth opposite and individual's name refers to employment with WHX. Where no date is given for commencement of the indicated office or position, such office or position was assumed prior to October 17, 1992. Each person listed below is a citizen of the United States.
NAME AND PRINCIPAL PRINCIPAL OCCUPATION OR EMPLOYMENT; MATERIAL BUSINESS ADDRESS POSITIONS HELD DURING THE PAST FIVE YEARS - ------------------------------------------ ------------------------------------------------------------------------ Neil D. Arnold.............................. Director, Executive Vice President, Corporate Varity Corporation Development since April 1996 and Chief Financial 672 Delaware Avenue Officer of Varity Corporation, a manufacturer of Buffalo, NY 14209 automotive components and diesel engines Paul W. Bucha............................... Director. President, Paul W. Bucha & Company, Paul W. Bucha and Inc., an international marketing consulting Company, Inc. firm; President, BLHJ, Inc., an international Foot of Chapel Avenue consulting firm; President, Congressional Medal Jersey City, NJ 07305 of Honor Society of U.S. since September 1995 Frederick G. Chbosky........................ Chief Financial Officer, Executive Vice President - Finance of Wheeling-Pittsburgh Steel Corporation ("WPSC") since December 1992 and Chief Financial Officer of WPSC Robert A. Davidow........................... Director. Private Investor; Director, Arden 11601 Wilshire Boulevard Group, Inc. Suite 1940 Los Angeles, CA 90025 William Goldsmith........................... Director. Management and Marketing Consultant; Fiber Fuel International, Chairman and Chief Executive Officer of Overspin Inc. Golf, since January 1994; Chairman of the Board 221 Executive Circle and Chief Executive Officer of Fiber Fuel Suite II International, Inc., since 1994 Savannah, GA 31406 Ronald LaBow................................ Director. Chairman of the Board; President, Stonehill Investment Corp.; Director of Regency Equities Corp., a real estate company Howard Mileaf............................... Vice President, Special Counsel since April 1993; Trustee/Director of Neuberger & Berman Equity Mutual Funds Marvin L. Olshan............................ Director. Secretary; Partner, Olshan Grundman Olshan Grundman Frome & Frome & Rosenzweig LLP Rosenzweig LLP 505 Park Avenue New York, NY 10022 John R. Scheessele.......................... Director. President and Chief Executive Officer; President, Chief Executive Officer and Chairman of the Board of WPSC
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NAME AND PRINCIPAL PRINCIPAL OCCUPATION OR EMPLOYMENT; MATERIAL BUSINESS ADDRESS POSITIONS HELD DURING THE PAST FIVE YEARS - ------------------------------------------ ------------------------------------------------------------------------ Garen Smith................................. Vice President since October 1995; President and Chief Executive Officer of Unimast Incorporated, a wholly-owned subsidiary of WHX Raymond S. Troubh........................... Director. Financial Consultant; Director of ADT 10 Rockefeller Plaza Limited, a provider of electronic security alarm Suite 712 protection, America West Airlines, Inc., Applied New York, NY 10021 Power Inc., a manufacturer and distributor of hydraulic power equipment, ARIAD Pharmaceuticals, Inc., Becton, Dickinson and Company, a medical instrumentation and equipment company, Diamond Offshore Drilling, Inc., Foundation Health Corporation, General American Investors Company. Olsten Corporation, a temporary help company, Petrie Stores Corporation, a retail chain, Sunbean Corporation, a manufacturer of consumer appliances, Time Warner Inc. and Triarc Companies, Inc. Lynn Williams............................... Director. Retired President of United 1829 Duffield Lane Steelworkers of America Alexandria, VA 22307 Stewart E. Tabin............................ Assistant Treasurer; Vice President, Stonehill Investment Corp. Neale X. Trangucci.......................... Assistant Treasurer; Vice President, Stonehill Investment Corp.
Directors and Executive Officers of WPCC. Set forth below are the name and position with WPCC of each director and executive officer of WPCC. The principal address of WPCC and the current business address of each individual listed below is 110 East 59th Street, New York, NY 10022. Each such person is a citizen of the United States. The present principal occupation or employment (in addition to the position with WPCC indicated below), and material occupations, positions, offices or employments for the past five years of each person is set forth below. PRESENT POSITION NAME WITH WPCC - ---- --------- Ronald LaBow........................ Director; President Howard Mileaf....................... Director; Vice-President Stewart E. Tabin.................... Director; Vice-President; Treasurer Neale X. Trangucci.................. Director; Secretary -----END PRIVACY-ENHANCED MESSAGE-----