UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 26, 2009
BLOUNT INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware | | 001-11549 | | 63 0780521 |
(State or other jurisdiction | | (Commission File Number) | | (I.R.S. Employer |
of Incorporation) | | | | identification No.) |
| | | | |
4909 SE International Way, Portland, Oregon | | 97222-4679 |
(Address of principal executive offices) | | (Zip code) |
Registrant’s telephone number, including area code: (503) 653-8881
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-Commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13-e-4(c))
ITEM 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES
Blount International, Inc. (the “Corporation”) announced on January 26, 2009 that it will permanently close its Milan, Tennessee production facility. It is anticipated that the closure will be completed during the second quarter of 2009.
The Corporation will record an estimated charge of between $4.5 million and $5.5 million in the first quarter of 2009 related to the Milan closure. This charge includes a non-cash expense of approximately $3.0 million to $3.5 million related to the disposal and write-down of assets that will not be transferred to the Corporation’s other manufacturing facilities. Cash expense is estimated to be between $1.5 million and $2.0 million and is primarily for severance benefits for qualifying Milan employees, which are expected to be paid during the second quarter of 2009.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits:
99.1 Press release dated January 26, 2009 issued by Blount International, Inc.
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SIGNATURE
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, thereunto duly authorized.
BLOUNT INTERNATIONAL, INC. | |
Registrant | |
| |
| |
/s/ Calvin E. Jenness | |
Calvin E. Jenness | |
Senior Vice President and | |
Chief Financial Officer | |
| |
Dated: January 29, 2009 | |
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EXHIBIT INDEX
Exhibit No. | | Description of Exhibit |
| | |
99.1 | | Press release dated January 26, 2009 issued by Blount International, Inc. |
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