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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 14 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) August 6, 1997
MASTEC, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-3797 59-1259279
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
3155 N.W. 77th Avenue, Miami, Florida 33122-1205
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (305) 599-1800
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events
On August 6, 1997, MasTec, Inc. announced the closing of the
acquisition by MasTec of 51% of MasTec Inepar S/A - Sistemas De Telecomunicacoes
(MasTec-Inepar), a newly formed Brazilian telecommunications infrastructure
contractor with a backlog of approximately $280 million in construction
contracts in Brazil. This includes $50 million in contracts awarded since the
acquisition agreement was first announced last May. MasTec contributed $29.4
million in new capital to the company and issued 250,000 shares of MasTec stock
and options to acquire an additional 50,000 shares in exchange for the 51%
interest.
Item 7. Financial Statements and Exhibits.
(c)
99.1 Press release dated August 6,1997.
SIGNATURES
Pursuant to the requirement of the Securities
Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 6, 1997. /s/ Edwin D. Johnson
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Edwin D. Johnson
Senior Vice President-
Chief Financial Officer
(Principal Financial Officer
and Authorized Officer)
NEWS
For Immediate Release From MasTec, Inc.
August 6, 1997 3155 N.W. 77th Avenue, Suite 135
Miami, Florida 33122-1205
Tel : (305) 599-1800
Fax : (305) 406-1908
For more information contact:
Edwin D. Johnson,
Chief Financial Officer
www.ejohnson@mastec.com
MASTEC CLOSES ACQUISITION OF BRAZILIAN TELECOM CONTRACTOR
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today the closing of the
acquisition by MasTec of 51% of MasTec Inepar S/A - Sistemas De Telecomunicacoes
(MasTec-Inepar), a newly formed Brazilian telecommunications infrastructure
contractor with a backlog of approximately $280 million in construction
contracts in Brazil. This includes $50 million in contracts awarded since the
acquisition agreement was first announced last May. MasTec contributed $29.4
million in new capital to the company and issued 250,000 shares of MasTec stock
and options to acquire an additional 50,000 shares in exchange for the 51%
interest.
The new contracts recently awarded to MasTec-Inepar are: a turn-key project to
construct the infrastructure for Motorola's cellular equipment being installed
in Parana for TELEPAR, the local telephone company for Parana state, and a
similar turn-key cellular infrastructure project for CRT, the local telephone
company in Rio Grande do Sul. Both TELEPAR and CRT are incumbent local exchange
carriers in the Telebras system and their cellular systems are considered A-band
systems. Telefonica de Espana, MasTec's principal foreign customer, recently
acquired a significant ownership interest in CRT as part of the ongoing
privatization of the state owned telephony system. These two contracts total
approximately $50 million.
MasTec also announced that Kalil Cury Filho has been appointed President and
Chief Executive Officer of the new company. Mr. Cury was the CEO of Partner
Desenvolvimento de Negocios, a consulting and advisory company providing
specialized expertise regarding privatization, finance and business development
in the energy, telecommunications, sanitation and transportation industries. In
1995, Mr. Cury was appointed the State Secretary of Trade, Industry and Economic
Development of Parana State, Brazil. Mr. Cury has over twenty years of
management experience in infrastructure engineering and construction.
MasTec-Inepar will continue to target infrastructure projects in the burgeoning
Brazilian telecommunications field. Over the past thirty days, the Brazilian
government has begun to award multi-billion dollar B-band cellular licenses and
the Brazilian Congress has approved and forwarded to the President for signature
a telecommunications act to allow the further privatization and deregulation of
telephony throughout the country. Each of these developments continue to promote
infrastructure spending and provide excellent prospects for MasTec-Inepar.
Opening the Lines of Communication(R) worldwide, MasTec is one of the world's
leading telecommunications and related infrastructure service providers, serving
clients throughout the United States, Latin America and Spain.
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