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) November 10, 2008
THE NEWARK GROUP, INC.
(Exact name of registrant as specified in its charter)
New Jersey | 333-118844 | 22-2884844 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
20 Jackson Drive
Cranford, New Jersey 07016
(Address of principal executive office)
(Zip Code)
(908) 276-4000
(Registrant’s telephone number, including area code)
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 (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.05. | Costs Associated with Exit or Disposal Activities |
On November 10, 2008, The Newark Group, Inc. (“the Company”) announced the permanent shutdown of its solidboard plant in Madera, California. The reason for the closure is the lack of business, both current and prospective, and production is expected to cease at the facility by January 15, 2009.
The Company expects to incur non-cash impairment charges of approximately $2.0 million in connection with the closing, as well as cash costs of not more than $0.1 million for severance benefits for employees, equipment dismantling and relocation and other associated costs.
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, thereunto duly authorized.
THE NEWARK GROUP, INC. | ||||
Date: November 14, 2008 | ||||
By: | /s/ Joseph E. Byrne | |||
Joseph E. Byrne | ||||
Vice President and Chief Financial Officer |
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