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<SEC-DOCUMENT>0000950144-96-004594.txt : 19960726
<SEC-HEADER>0000950144-96-004594.hdr.sgml : 19960726
ACCESSION NUMBER:		0000950144-96-004594
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	19960711
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		19960725
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WINDMERE CORP
		CENTRAL INDEX KEY:			0000217084
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC HOUSEWARES & FANS [3634]
		IRS NUMBER:				591028301
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10177
		FILM NUMBER:		96598857

	BUSINESS ADDRESS:	
		STREET 1:		5980 MIAMI LAKES DR
		CITY:			MIAMI LAKES
		STATE:			FL
		ZIP:			33014
		BUSINESS PHONE:		3053622611

	MAIL ADDRESS:	
		STREET 1:		5980 MIAMI LAKES DRIVE
		CITY:			MIAMI LAKES
		STATE:			FL
		ZIP:			33014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAVE WAY INDUSTRIES INC
		DATE OF NAME CHANGE:	19830815

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SAVE WAY BARBER & BEAUTY SUPPLIES INC
		DATE OF NAME CHANGE:	19770626
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>WINDMERE-DURABLE HOLDINGS, INC. FORM 8-K  7/11/96
<TEXT>

<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                    FORM 8-K


                                 CURRENT REPORT


                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                      SECURITIES AND EXCHANGE ACT OF 1934


         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) JULY 11, 1996
                                                          -------------

                        WINDMERE-DURABLE HOLDINGS, INC.
             ------------------------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


                                      FLORIDA            
                 ----------------------------------------------
                 (STATE OR OTHER JURISDICTION OF INCORPORATION)


      1-10177                                           59-1028301        
- ---------------------                           ---------------------------
(COMMISSION FILE NUMBER)                      (IRS EMPLOYER IDENTIFICATION NO.)


  WINDMERE-DURABLE HOLDINGS, INC.
      5980 MIAMI LAKES DRIVE
      MIAMI LAKES, FLORIDA                                  33014 
- ------------------------------------------------------------------------------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE)                  (ZIP CODE)


     REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (305) 362-2611
                                                        --------------


<PAGE>   2


ITEM 5. OTHER EVENTS

        The Registrant incorporates herein by reference the information 
disclosed in Exhibit 99 filed herewith.


ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

        Exhibit 99. Press release of Windmere-Durable Holdings, Inc. dated 
July 11, 1996.










                                      2
<PAGE>   3
                                   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 hereunto duly authorized.


                                       WINDMERE-DURABLE HOLDINGS, INC.


Date:  July 25, 1996                   By: /s/ Harry D. Schulman    
                                           -----------------------------------
                                            Harry D. Schulman


                                      3
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<DESCRIPTION>PRESS RELEASE
<TEXT>

<PAGE>   1
WINDMERE(R)

WINDMERE CORPORATION
5980 MIAMI LAKES DRIVE, MIAMI LAKES, FL 33014-2467

PHONE: (305) 362-2611

FAX: (305) 364-0635


F O R  I M M E D I A T E  R E L E A S E


                CONTACT:  Cindy Solovei
                          Assistant Vice President--Finance
                          Windmere-Durable Holdings
                          (305) 362-2611
                          or
                          Bill Rue, Senior Vice President
                          and Chief Operating Officer
                          Salton/Maxim Housewares
                          (847) 803-4600


         WINDMERE-DURABLE HOLDINGS AND SALTON/MAXIM HOUSEWARES COMPLETE

                        FORMATION OF STRATEGIC ALLIANCE



   WINDMERE-DURABLE HOLDINGS ACQUIRES 50% INTEREST IN SALTON/MAXIM HOUSEWARES   

Miami Lakes, Florida and Mount Prospect, Illinois (July 11, 1996)--Windmere-
Durable Holdings, Inc., (NYSE:WND) and Salton/Maxim Housewares Inc.
(Nasdaq:SALT) today announced that Windmere-Durable has completed its
acquisition of 50% of Salton/Maxim, following yesterday's approval of the
transaction by Salton/Maxim's shareholders. Salton/Maxim issued approximately
6.5 million shares of its common stock to Windmere-Durable in exchange for
748,112 shares of Windmere-Durable common stock, a $10.8 million note, and a
cash payment of $3.2 million. The transaction was originally announced on
February 28, 1996.

David M. Friedson, Windmere-Durable's Chairman, President and Chief Executive
Officer, stated, "Consummation of this purchase brings us a step closer to
building a larger presence in consumer products and establishing a well
recognized brand, with the White-Westinghouse(R) name licensed by Salton/Maxim
earlier this year. We are joining forces with an organization whose strengths in
marketing and distribution will both complement and maximize our own
capabilities."

Leonhard Dreimann, Chief Executive Officer of Salton/Maxim, stated, "We are
very pleased to be allied with Windmere-Durable Holdings. Today's transaction
is the first step in building a closer relationship between our companies. We
look forward to working with Windmere-Durable's people on mutually rewarding
business development."

Salton/Maxim Housewares, headquartered in Mount Prospect, Illinois, designs and
markets small kitchen appliances and beauty care products under the Salton(R),
Maxim(R), Salton CreationsTM, Salton TimeTM, and White-Westinghouse(R) brand
names. The Company's products also include the BreadmanTM and JuicemanTM product
lines.

Windmere-Durable Holdings, Inc., is a diversified manufacturer and distributor
of a broad range of consumer products, including personal care products for the
home and professional salons, kitchen electric appliances, and consumer
electronics. The Company also markets the Litter MaidTM computerized, infrared,
automatic self-cleaning cat litter box.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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