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':"·'·-,, "_-,··,: __ )--'" sfc36j -··""··· Reglstrit101c.,, . .. Statomlinls'> : ·', : -. " 19-K C.- REPORT CONTENTS ~~:~;~.. Sf:: 10-K 20-F 10-Q 8-K 10-C 6-K -.~l . · <;;i!l'B_,:. ,J:ypa .,ARS Auditor D Name A A D Opinion,, A A D Changes A Compensation Plans D Equity ,, D Monetary '· Company Information · D Nature of Business A A A -A'\ D History F A A D Organization and Change F F A A· '. Debt Structure A A •A Depreciation & Other Schedu.Jes A A A A " Dilution Factors A A F A A Directors, Officers, Insiders D Identification F 'A A 0 Background F F A o Holdings A A D Compensation A A Earnings Per Share F Financial Information D Annual Audited 0 Interim Audlte.d ;. D Interim Unaudited Foreign Operations Labor Contracts -F' . ' ' :·F.. " Legal Agreements F F ; '.· :-· .. ,. Legal Counsel .. 'A. Loan Agreements F F Plants and Properties A F Portfolio Operations . ·D Contenl..{LiStlilg of Securities) D Management Product-Line Breakout A Securities Structure A A Subsidiaries A A Underwriting A. A Unregistered Securities .- F F Block Movements A '·;. Legend A - a/ways Included - Included - ii occured or alQnlficant F - frequently included • special c/;cumstanl»s only\ · · ' . TENDER OFl'ER/ACQUISITION REPORTS 130 13G 140-1 140-9 13E-3 t3E-4 Name of Issuer (Subject Company) A ·A A A A A Filing Person (or Company) · A A A. A A A . Amount of Sh••es Owned A A Percent of Clal8 Outstanding A A Financial :Statements of Bidders F F F PuipOH of Tender Oller A A A A Source and Amount of Funds A A A Identity and Background Information ' A A A Persona Retained Employed or to be Compensated A A A A Exhlblta F F F F F " 'l -©Copyright 1980 diseLOS1JRE,11coRPoRATEo - 5161 River Road o Washington, D.C. 20016 o 301/951~1300 .,,. ~ .. -· ' .. ..! . .ANNiw, .. ~Rr PU&'3tiANr 'Bl.SEX?!'I~ 13 or. 15(d) . OF THE SECURITIE.S ~ l!Cr. OF .1934 .. llC ~trlb ~NO · ..... · .· ... · . ·••CHANQf COMM.ISSION r1 •· For the fiscal year ended FEE·····el·· .. ~ECE'IVED ),. :J/S-~ ~v~r:.30, 1980 . nm soorr'& ::is:;1~ N r 1f~i117 t98t •. (Exact name Of''Registr.mt. as speqified lll it ~r) " '"Fil.TW APPLICATIOlfS ... Ohio ... ·. .· .. ... 34-'-051704 Ii .REPORTS SERVIclS (State or o.ther jurisdiction.··. <:I·R•S. Employer · · · ·' qf inoorporati6n •or . ·• Identificatii:>n No• ) ·' '· 'cit9anizationl . · · • ')'.: .. ' ' _- ·•• ·:",,· ' _- - .·-1 .. 14~0 oeti:ciit ~venuE!, . .·· .· .. •·····. ·.. Lakewood~ Ohio . ·.•. ' 44107- ·_ ~ -1 • ' 0,;' . · ' (Adch:ess of principal . (Zip Code) ' -- . executive OffiCes) . ' - .·.- -,, :; ._ 'r/ ,,,, •· ... · RE!gi~trant•s teleph(Jile m~r, including area cx)qe~ . .. .. ·.·.. (216) 228.,,.6200 ·. ..· ..•. '. .1•·' -., ' ' .. - ·.' ' :- ; - . ' i;ecurities rajii:;tei:ed pur$dant ··~ .. SectiCll 12(b) of the A<;t: ·· ~- . _, - - .. -. :- - . ' - ' .- ·: ' . - ' . - ,, , '" •.. ·.··· N• bf .~C:h. exchange . at Which.·. tegistei:ed ' - " \."· Ccimiat s.hat:es ·New .York 'stock. Exchange Witnout, Par Value M_idwest stoek Exchange ($1~25 state4 Value) ···.Pacific stoek Exchange · 9-1/4% Notes .Due 1985• ' ' . ' -· . ' . : - . ' . .··Nl:!w Yoi:k stoqJc Exchange . .· ~ . ' ._ , - . securites.· .._. :- rajisterea- . ,, -EUm\iant . ' . ·.f'"' '. to--·- Section-.· ,• ." .._ :· 12<gf '_,. ' of .the.Act: -,•' None.; ' ' ' · .. .. .· · .·. I~icateJ;iy chE!cJc .mark• .wtiei:her ~ registrant (1) has ~il!ed .al.I ;,(" · rep::>rts requited to be fil~ 1'y ~ion 13 or.15(d) of t:he Securities. ExcJ:iange Act of 193~ du,~iir;J the 'pi:ecedi~ 12 ~ths. (or .for such . .. •... •ShOrte.r period .tf!at .the.· D!!9istrant wai; ·J:eqllited to .file such ·~p::>rts) , ·~· ·,· :'r:1 ·(2) ~as 1JE!en s,ubject, t:g sudl fili113 ~irements ·for the. past 90i>,> ·. · ays~. ..· ... • ·.·· · ·· .· · . Yes X .. ·No.'"• ' • ·. ... @ .. ·.. -· ... -· .. - ~·· In:i~cate the lllJllber~of shan!S outstandi!J.J Of e!ldl cif the is~uer's · ·· classes'rt!pqrt. of .· wmoo·... · .. · stock,. as•. of the. ·. 9lqse:.of. .. .. .. .the . period. cµvet:ed. !)y,this. ·Class outstan:iing at NoveiN:ler 30, 1980 ,. ' - ·-_ ' . ·, __ : ' - . - ' '_. -_ ' -_ ' .-_- ;<,:; c:amton Shares Without Par· Valuer "( ,39()',053 ($l.25 stated viµlle) ' . ' . .... ,+.. , n:. - . ~·- .' •••• ·(~ ,_ ' ' -·7.! ' ~'.:/.:. ".,., . I ··"· ~-"!;• ' '":· "• n' ' , /l, - ' - ' ,. _' . :. ' '' ,''SE~TIES. AND' EXCHANGE cn!MISSICN Washington, D.; c. 20549 • ;:'i ~; · FO~ 10-K ANNUAt· BEEORl' ~ '10 SECr!ON 13 .or 15(d) OF· 'lHE SECURITIES EXCHANGE At::r OF 1934 Fql:'the fiscal ye~ end~ November 30, •1900 camtission File Number 1-231 '!HE SCO'l"l' & FETZER CDIPANY . - .Ji" (Exact name of Registrant a6 specified in its ctiarter) • <)' ·--..; ·34-0511040 t .. '< >''•' (State or o!:her jurisdiction (I.R.s. Ehlployer. · of incorporation or Identification NO. ) · organization) 14600Detroit A~enue, LakewoOa, .·Ohio 44107 (Add~ess of.. principal· .(Zip Q:Xle) executive offi~s) Registrant's telephone nt.lllber, including area aide: ( 216) 228""6200 ' ' Securities registered J;flJrsuant to Section 12(b) ·of the Act:· . NaJlle of each exchange .. Title of each class on which registered · Cbnllbn Shares New York Stcx::k Exc.liange . Without par Value Midwest Stock ExChange ($i.25 stated Value) Pacific Stock Exchange ,Q New.York.Stock Exctiancje securites regi~tered ptlrsuant to Seetion 12(gj of the 1\ct:. NOne. ~· . -· - - ' ' . -, . Indicate by dleck mark whether the registrant (1) has filed all · reports req1,1ired to be filed by Section 13 or 15((1) of the Securities .. • Ex~e Act of 1934during the preceding 12 months (or for sudl sh<>rter pe~iod that the registri311t was i:equired to file s~dl reports), , and (2) haa been subject to .sud! filing tequi~ts ffJJ: the past 90 days. · . ,, o · ·· · · · · 0 Yes_!_ N:>. • ' :rnclicate the .mnber of. Shares ou!:Stahcii.ng'of .eadl of the. issuer's .· classes of (Xlt11a1 stq¢c, as of the Clese of the pei:ioo a:>Veted by this ·report. ' ' ' ' ' ' " ' ' Class Outstanding at November 30, 1980 c CklctilOU Shares Without Par Value ' 7,390,053 ($1.25 stated vcilue) fi:r 1 .. \l . - '. )1 ,_. •'. '-'- fl PART I Except as otherwise stated, the information in this 'feport. is as of NovE!lltber 30, 1980, the close of the fiscal year of the Registrant ("Scott & Fetzer0 or 0 0>npany"), and unless specifically stated, refers only to the operations of Scott & Fetzer rontinuing after that date. .,.-· ITEM 1. Business • SCOtt & Fetzer is a diversified canpany which manufactures ancj sells products in the Cleaning Systems, Filucational .& lbusehold Products, Fluid · Transnission, Equipnent and Accessories, and Energy & Control, segments. Tllio of Scott & Fetzer's principal product lines are vacu1111 cleaners and related accessories primarily for hane use sold under the Kirby and other brand names ,·· . and encyclopedias and related educational products sold .under the world Book name. Scott & Fetzer has 17 operating units nost of which were independent businesses acquired subsequent to 196.3. Founded in 1914, Scott & Fetzer was incorporated under the laws of the State of Cllio on November 30, 1917. :• Business 5egments The anount of net sales and other revenue, inoane before taxes and identifiable assets attributable to each business segment is set forth in the tables on pages 26 and 27 of the 1980 Annual Report to shareholders of Scott & Fetzer, which tables are incorporated herein by reference. Such figures and related information exclude discontinued c:perations. Scott & Fetzer's business • segments are based in part oo the similarity of certain of its products and in part on the similarity of the markets in which its products are sold. Such data reflect the ·allocation of certain expenses and other arbitrary detei:minations. ' ~-~ Dlring the fiscal year ended November 30, 1980, no single custcrner purchased products fran the operating units of Scott & Fetzer which in the •• aggregate acrounted for nore than 10% of total sales fran .rontinuing c:perations for such fiscal year. Scott & Fetzer does not believe that the loss of any single custaner ~uld have a material adverse effect oo its .. total buSiness. Cleaning Systems • Scott & Fetzer manufactures and distributes a wide variety of vacuum cleaners and other floor maintenance equipnent and suwlies for residential, industrial and institutional use. Scott & Fetzer also manufactures and sells to other manufacturers certain oooponent parts incorporated in such equipnent, Floor maintenance equipnent for ronsumer use is sold primarily under the • Kirby name, and certain other floor maintenance !!Cl(lipnent for such use .is sold under both t.he·private labels of custaners and under certain ooopany trade names. Scott & Fetzer, which entered the household vacu1111 cleaner field in • • ~. 2 1919, manufactures. and. sells the Kirby upright vacutun cleaner and related floor care and other accessories. Kirby products are sold. by the direct sales method in the bane through approximately 10,000'independent dealers \>'Orldwide, backed ·o .. by sane 1,000 factory and. area distributors •. Kirby's sales to distributors are t ', substantially all for cash. i)Jring fiscal .19SO, the COnpany began financing conslJller installment acoounts re~ivables through united Retail Finance Canpany, ~ .wholly"'OW!led subsidiary of 'li:>rld Book Finance, Inc. At Noventier 30, 1980, the f~<:e aioount of these receivables totaled awroximately $2 million. In fiscal 1980, no one distributor acoounted for .nore than 2% of Kirby sales. Domestic sales are fairly evenly distributed throughout the oounb:y, .basea. upon population densities. '!he sale·of vacuum (;!leaners and related accessories primarily fot:: .hane use unc1er the Kirby and oth.:!r names, as well as private labels, acoounted for ag;>roximately 24%, 24%, 17%, 12% and 13% of total revenues fran ex>ntinuil1g operations of .Soott & Fetzer for each of the fiscal. years 1976 through 1980 respectively. In addition to the Kirby products,. Soott &.Fetzer manufactures .and sells under the American-Linooln. name an extensive line of power-driven industrial and instit1,1tional floor maintenance, equipnent and related SUp{)lies including industrial-type polishers, sanders, wet floor scrubbers, tank-type vacutun cleaners and sweepers ranging in size up to, and .