SECURITIES AND EXCHANGE COMMISSION
UNITED STATES
Washington, DC 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) SEPTEMBER 29, 2004
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INTERMET CORPORATION
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(Exact name of registrant as specified in its charter)
GEORGIA 0-13787 58-1563873
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5445 CORPORATE DRIVE, SUITE 200 48098-2683
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TROY, MICHIGAN
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (248) 952-2500
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NOT APPLICABLE
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(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:
[ ] 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 1.03. BANKRUPTCY OR RECEIVERSHIP.
On September 29, 2004, INTERMET Corporation and 17 of its
domestic subsidiaries (collectively, the "debtors") filed voluntary petitions in
the U.S. Bankruptcy Court for the Eastern District of Michigan seeking relief
under chapter 11 of the United States Bankruptcy Code. The debtors are
continuing to operate their businesses as debtors-in-possession under the
jurisdiction of the Bankruptcy Court and in accordance with the provisions of
the Bankruptcy Code. A copy of the press release disclosing the filing is
attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated
by reference herein.
The company has obtained a commitment for a twelve-month
secured debtor-in-possession (DIP) revolving credit facility of up to $60
million in principal amount from one of its pre-petition lenders. A copy of the
press release disclosing the DIP facility is attached to this Current Report on
Form 8-K as Exhibit 99.2 and is incorporated by reference herein.
On September 30, 2004, several of the debtors' "first day"
motions were approved by the Bankruptcy Court. A copy of the press release
disclosing the approval of these motions is attached to this Current Report on
Form 8-K as Exhibit 99.2 and is incorporated by reference herein.
Following is a list of the debtors and the case numbers
assigned to each. The cases have been assigned to the Honorable Marci McIvor and
are being jointly administered. The case number of the main case, which should
be referred to for all docket entries in the cases, is 04-67597.
Name of Debtor Case Number
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INTERMET Corporation 04-67597
Alexander City Casting Company, Inc. 04-67599
Cast-Matic Corporation 04-67605
Columbus Foundry, L.P. 04-67609
Diversified Diemakers, Inc. 04-67612
Ganton Technologies, Inc. 04-67600
Intermet Holding Company 04-67601
Intermet Illinois, Inc. 04-67604
Intermet International, Inc. 04-67607
Intermet U.S. Holding, Inc. 04-67598
Ironton Iron, Inc. 04-67603
Lynchburg Foundry Company 04-67606
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Name of Debtor Case Number
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Northern Castings Corporation 04-67608
Sudbury, Inc. 04-67613
SUDM, Inc. 04-67602
Tool Products, Inc. 04-67610
Wagner Castings Company 04-67614
Wagner Havana, Inc. 04-67611
ITEM 2.04. TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT
FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT.
As a result of the bankruptcy filing, the company is in
default under its First Amended and Restated Credit Agreement dated January 8,
2004, as amended by the First Amendment to First Amended and Restated Credit
Agreement dated as of April 13, 2004 (together, the "Credit Agreement"), among
the company, the lenders who are parties to the Credit Agreement from time to
time and the Bank of Nova Scotia, both as lender as administrative and
collateral agent for the lender group. As a result of this default, the
commitments under the Credit Agreement have terminated and all borrowings,
together with accrued interest, and all other amounts owed by the company,
including all amounts under outstanding letters of credit, are due and payable
in the amount of approximately $69,900,000 million.
The bankruptcy filing has also caused the company to be in
default of its indenture dated as of June 13, 2002 among the company, certain of
the company's domestic subsidiaries and U.S. Bank National Association, as
trustee. The indenture governs the company's $175 million aggregate principal
amount of its 9-3/4% Senior Notes Due 2009. As a result of the default, the
principal amount of the notes plus approximately $4,900,000 of accrued and
unpaid interest is due and payable.
The ability of the creditors of the company and its
subsidiaries to seek remedies to enforce their rights under the Credit Agreement
and the indenture are stayed as a result of the bankruptcy filing and the
creditors' rights of enforcement are subject to the applicable provisions of the
Bankruptcy Code.
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ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable
(b) Not applicable
(c) Exhibits:
The following exhibits are being filed herewith:
99.1 INTERMET Corporation press release dated September 29, 2004.
99.2 INTERMET Corporation press release dated October 4, 2004.
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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.
INTERMET CORPORATION
October 5, 2004 By: /s/ Alan J. Miller
Alan J. Miller
Vice President, General Counsel and
Assistant Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 INTERMET Corporation press release dated September 29, 2004.
99.2 INTERMET Corporation press release dated October 4, 2004.