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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): April 10, 2003
COMMONWEALTH INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 13-3245741
(State of incorporation) (I.R.S. Employer Identification No.)
500 West Jefferson Street
19th Floor
Louisville, Kentucky 40202-2823
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (502) 589-8100
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Item 9. Regulation FD Disclosure.
See the following press release, dated April 10, 2003, announcing that
Steelworkers at Commonwealth's Lewisport Kentucky plant sign a new five-
year labor contract:
NEWS RELEASE
Contact: Katherine R. Gould
Vice President
Organizational Development
(502) 589-8130
STEELWORKERS AT COMMONWEALTH'S LEWISPORT KENTUCKY
PLANT SIGN NEW FIVE-YEAR LABOR CONTRACT
LOUISVILLE, Ky. (April 10, 2003) - Commonwealth Industries, Inc. (NASDAQ/NM:
CMIN) today announced that its employees represented by the United Steelworkers
of America, Local 9443-01, have overwhelmingly ratified a five-year collective
bargaining agreement that covers approximately 630 employees at the Company's
rolling mill facility in Lewisport, Kentucky. This early labor agreement
replaces the current agreement that was set to expire July 31, 2003.
Both Union and Company officials emphasized the constructive working
relationships that led to the contract. William R. Witherspoon, Vice President
Aluminum Operations, said, "In light of the uncertain economic times and the
financial stress faced by companies like Commonwealth in the aluminum industry,
this was an opportune time for both parties to agree to a new five-year
contract. This benefits not only our employees, but our customers, suppliers and
communities." Mark V. Kaminski, President and Chief Executive Officer, said,
"From our perspective, this is a positive underscore to the productive
relationship that exists between the Company and the Union."
United Steelworkers of America, District 8 Staff Representative Bobby
Pierson said, "The professional atmosphere that was brought to the table by both
parties was very refreshing and encouraging. There really seemed to be a sense
of family ownership by the parties in these particular negotiations. The labor
relations world could use more of this group's example."
Commonwealth Industries is one of North America's leading manufacturers
of aluminum sheet for distributors and the transportation, construction and
consumer durables end-use markets. The Company has direct-chill casting
facilities in Kentucky and continuous casting mini-mills in Ohio and California.
Commonwealth also is a leading manufacturer of innovative electrical products
through its Alflex operations in California and North Carolina. For more
information about the Company, visit Commonwealth's website at
www.ciionline.com.
Certain statements set forth above may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. All statements regarding the Company's and its subsidiaries' expected
future financial position, results of operation, cash flows, funds from
operations, dividends, financing plans, business strategy, budgets, projected
costs, capital expenditures, competitive positions and growth opportunities are
forward-looking statements. Such forward-looking statements are based on
management's current expectations and include known and unknown risks,
uncertainties and other factors, many of which the Company is unable to predict
or control, that may cause the Company's actual results or performance to
materially differ from any future results or performance expressed or implied by
such statements. Such factors may include, without limitation, the effect of
global economic conditions, the ability to achieve the level of cost savings or
productivity improvements anticipated by management, the effect (including
possible increases in the cost of doing business) resulting from war or
terrorist activities or political uncertainties, the ability to successfully
implement new marketing and sales strategies, the impact of competitive products
and pricing, product development and commercialization, availability and cost of
critical raw materials, product demand and market acceptance risks, capacity and
supply constraints or difficulties, the success of the Company in implementing
its business strategy, and other risks as detailed in the Company's various
filings with the Securities and Exchange Commission.
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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.
COMMONWEALTH INDUSTRIES, INC.
By /s/ Henry Del Castillo
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Henry Del Castillo
Vice President Finance
Date: April 10, 2003