-----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, D0SxSxEFdDXpUARA73CpACNjoWd4fe8wFMD0XyywI21nbxq9XKVok4er9WWGg/FF HMII2k65b4Dydw27VPPG1Q== 0000893838-99-000192.txt : 19990728 0000893838-99-000192.hdr.sgml : 19990728 ACCESSION NUMBER: 0000893838-99-000192 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990727 GROUP MEMBERS: ASAHI ORGANIC CHEMICALS INDUSTRY CO., LTD. GROUP MEMBERS: MIDNIGHT ACQUISITION CORP. GROUP MEMBERS: MIDNIGHT ACQUISITION HOLDINGS INC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ASAHI AMERICA INC CENTRAL INDEX KEY: 0000906873 STANDARD INDUSTRIAL CLASSIFICATION: UNSUPPORTED PLASTICS FILM & SHEET [3081] IRS NUMBER: 042621836 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-48957 FILM NUMBER: 99670869 BUSINESS ADDRESS: STREET 1: 35 GREEN ST CITY: MALDEN STATE: MA ZIP: 02148 BUSINESS PHONE: 3173215409 MAIL ADDRESS: STREET 1: 19 GREEN STREET CITY: MALDEN STATE: MA ZIP: 02148 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MIDNIGHT ACQUISITION HOLDINGS INC CENTRAL INDEX KEY: 0001091866 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 510391650 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: CSC UNITED STATES CORP CO STREET 2: 1013 CENTRE RD CITY: WILMINGTON STATE: DE ZIP: 19805 BUSINESS PHONE: 3026365400 MAIL ADDRESS: STREET 1: CSC UNITED STATES CORP CO STREET 2: 1013 CENTRE RD CITY: WILMINGTON STATE: DE ZIP: 19805 SC 13D 1 CUSIP NO. 04338D106 SCHEDULE 13D Page 1 of 9 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) ASAHI/AMERICA, Inc. ----------------------------------------------------------- (Name of Issuer) Common Stock, no par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 04338D106 ----------------------------------------------------------- (CUSIP Number) Ichiro Murao Midnight Acquisition Holdings, Inc. c/o Asahi Organic Chemicals Industry Co., Ltd. 15-9 Uchikanda 2-chome, Chiyoda-ku, Tokyo 101-0047 Japan 03-3256-2451 with a copy to: David M. Wilf, Esq. Chadbourne & Parke LLP 30 Rockefeller Plaza New York, NY 10112 212-408-5100 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 27, 1999 - -------------------------------------------------------------------------------- (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(e), 13d-1(f) or 13d-1(g), check the following box |X| Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. *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 ("Act") 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). SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 04338D106 Page 2 of 9 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Asahi Organic Chemicals Industry Co., Ltd. - --------- ---------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - --------- ---------------------------------------------------------------------- 3 SEC USE ONLY - --------- ---------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - --------- ---------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - --------- ---------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Japan - --------- ---------------------------------------------------------------------- | 7 SOLE VOTING POWER NUMBER OF | | SHARES | 491,470 | |------- ------------------------------------------------------- | 8 BENEFICIALLY | SHARED VOTING POWER | OWNED BY | -0- | |------- ------------------------------------------------------ EACH | 9 | SOLE DISPOSITIVE POWER REPORTING | | 491,470 | |------- ------------------------------------------------------- PERSON | 10 | SHARED DISPOSITIVE POWER WITH | | -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 491,470 - --------- ---------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - --------- ---------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.3% - --------- ---------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - --------- ---------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 04338D106 Page 3 of 9 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Midnight Acquisition Holdings, Inc. - --------- ---------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - --------- ---------------------------------------------------------------------- 3 SEC USE ONLY - --------- ---------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - --------- ---------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - --------- ---------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------- ---------------------------------------------------------------------- | 7 SOLE VOTING POWER NUMBER OF | | SHARES | -0- | |------- ------------------------------------------------------- | 8 BENEFICIALLY | SHARED VOTING POWER | OWNED BY | 491,470 | |------- ------------------------------------------------------ EACH | 9 | SOLE DISPOSITIVE POWER REPORTING | | -0- | |------- ------------------------------------------------------- PERSON | 10 | SHARED DISPOSITIVE POWER WITH | | -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 491,470 - --------- ---------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - --------- ---------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.3% - --------- ---------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO, HC - --------- ---------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 04338D106 Page 4 of 9 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Midnight Acquisition Corp. - --------- ---------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - --------- ---------------------------------------------------------------------- 3 SEC USE ONLY - --------- ---------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not Applicable - --------- ---------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_| - --------- ---------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts - --------- ---------------------------------------------------------------------- | 7 SOLE VOTING POWER NUMBER OF | | SHARES | -0- | |------- ------------------------------------------------------- | 8 BENEFICIALLY | SHARED VOTING POWER | OWNED BY | 491,470 | |------- ------------------------------------------------------ EACH | 9 | SOLE DISPOSITIVE POWER REPORTING | | -0- | |------- ------------------------------------------------------- PERSON | 10 | SHARED DISPOSITIVE POWER WITH | | -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 491,470 - --------- ---------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - --------- ---------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.3% - --------- ---------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - --------- ---------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 04338D106 SCHEDULE 13D Page 5 of 9 Pages Item 1. Security and Issuer. The title of the class of equity securities to which this Statement relates is the Common Stock, no par value (the "Shares"), of Asahi/America, Inc. (the "Issuer"). The principal executive offices of the Issuer are located at 19 Green Street, Malden, MA 02148. Item 2. Identity and Background. This Statement is being filed on behalf of: (i) Asahi Organic Chemicals Industry Co., Ltd., a Japanese corporation ("AOC"); (ii) Midnight Acquisition Holdings, Inc., a Delaware corporation and a wholly owned subsidiary of AOC ("Holdings"); and (iii) Midnight Acquisition Corp., a Massachusetts corporation and a wholly owned subsidiary of Holdings ("Acquisition Corp.," and collectively, the "Reporting Persons," and each, a "Reporting Person"). The principal business, address of the principal business and address of the principal office of each of the three Reporting Persons are listed on Schedule I, which is hereby incorporated by reference. During the last five years, none of the Reporting Persons have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding were or are 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. Not Applicable. Page 6 of 9 Pages Item 4. Purpose of Transaction. AOC, through Holdings and Acquisition Corp., has made an offer to purchase, through a merger, all of the outstanding Shares of the Issuer at a price of $8.25 per share plus an estimated $1.20 to $1.30 per share representing the per share proceeds of the disposition of Quail Piping Products, Inc., a wholly owned subsidiary of the Issuer ("Quail"), net of taxes and certain expenses. The Issuer has formed an independent committee, retained ING Barings LLC to act as financial adviser in connection with the proposed transactions and approved the merger, subject to finalization of points remaining between the parties. As of the filing of this schedule, no definitive agreement has been reached on the proposed transactions, and there can be no assurance that the parties will reach a successful agreement or that the proposed transaction will be consummated. The offer is conditioned upon the disposition of Quail. The disposition of Quail is currently being negotiated with a management buyout group, which is in discussions with potential sources for financing. There can be no assurances that the parties will reach a successful agreement for the disposition, that financing for the disposition will be obtained or that the disposition will be consummated. Depending on market conditions and other factors that each of the Reporting Persons may deem material to its investment decision, such Reporting Persons may purchase additional Shares in the open market or in private transactions. Depending on these same factors, such Reporting Persons may sell all or a portion of the Shares that they now own or hereafter may acquire on the open market or in private transactions. Item 5. Interest in Securities of the Issuer. (a) - (b) Please refer to Schedule I attached hereto. Page 7 of 9 Pages (c) None of the Reporting Persons have effected any transactions in the Shares of the Issuer during the past 60 days. (d) None. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Holdings is a wholly owned subsidiary of AOC. Acquisition Corp. is a wholly owned subsidiary of Holdings. Item 7. Material to be filed as Exhibits. None. Page 8 of 9 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this Statement is true, complete and correct. Dated: July 27, 1999 REPORTING PERSONS: Asahi Organic Chemicals Industry Co., Ltd. By: /s/ Haruo Tabata --------------------------------------- Haruo Tabata, President Midnight Acquisition Holdings, Inc. By: /s/ Ichiro Murao --------------------------------------- Ichiro Murao, Director & President Midnight Acquisition Corp. By: /s/ Ichiro Murao --------------------------------------- Ichiro Murao, Director & President CUSIP NO. 584699102 SCHEDULE 13D Page 9 of 9 Pages SCHEDULE I - ----------------------------- ------------- -------------- ------------- ------------- ------------- -------------- Reporting Persons Name, Number of Percentage Shares as Shares as Shares as Shares as to Principal Business, Address shares of shares to which to which to which which there of, Principal Business, and beneficially beneficially there is there is there is is shared Address of Principal Office owned owned sole power shared sole power power to to vote power to to dispose dispose vote - ----------------------------- ------------- -------------- ------------- ------------- ------------- -------------- Asahi Organic Chemicals 491,470 14.3% 491,470 -0- 491,470 -0- Industry Co., Ltd. Manufacturer and distributor or plastic piping materials including valves, pipes, sockets, tees and joints. 15-9 Uchikanda 2-chome Chiyoda-ku Tokyo 101-0047 Japan Midnight Acquisition 491,470 14.3% -0- 491,470 -0- -0- Holdings, Inc. Acquisition Vehicle c/o Asahi Organic Chemicals Industry Co., Ltd. 15-9 Uchikanda 2-chome Chiyoda-ku Tokyo 101-0047 Japan Midnight Acquisition Corp. 491,470 14.3% -0- 491,470 -0- -0- Acquisition Vehicle c/o Asahi Organic Chemicals Industry Co., Ltd. 15-9 Uchikanda 2-chome Chiyoda-ku Tokyo 101-0047 Japan
-----END PRIVACY-ENHANCED MESSAGE-----