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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) OCTOBER 14, 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
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))
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ITEM 2.04 TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT
FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT.
In a current report on Form 8-K filed by INTERMET Corporation
on October 5, 2004, the company disclosed that, as a result of the company's
chapter 11 bankruptcy filing, the company had defaulted under its credit
agreement with, among other lenders, the Bank of Nova Scotia. As a result of the
default, the company reported that all borrowings, accrued interest and all
other amounts owed by the company under the credit facility were due and
payable, in the amount of approximately $69.9 million. While this amount
included amounts owed by the company under the revolving portion of the credit
facility as well as outstanding letters of credit, it did not include an
additional $120.0 million owned by the company under term loans under the credit
facility, which debt was also accelerated as a result of the company's
bankruptcy filing.
ITEM 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
On October 14, 2004, INTERMET Corporation announced a plan to
close the company's Columbus Machining Plant in Columbus, Georgia during the
first quarter of 2005. The primary reason for the closure is to achieve
rationalization of excess production capacity and reduce costs as part of the
restructuring plan being developed by the company in connection with its Chapter
11 reorganization.
At this time, the company is unable in good faith to make a
determination of a estimate of the costs that will be incurred in connection
with the closure of the Columbus facility as required by Item 2.05 of Form 8-K.
The company will file an amended report on Form 8-K under this Item 2.05 within
four business days after it makes a determination of such estimates.
A copy of the press release disclosing the closure of the
Columbus Machining Plant is attached to this Current Report on Form 8-K as
Exhibit 99.1 and is incorporated by reference herein.
ITEM 8.01. REGULATION FD DISCLOSURE.
On October 14, 2004, INTERMET Corporation issued a press
release disclosing that it had received a cash collateral extension and a
commitment for DIP financing. A copy of the press release is furnished as
Exhibit 99.2 to this Current Report on Form 8-K.
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ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
The following exhibit is being filed herewith:
99.1 INTERMET Corporation press release dated October 14, 2004
regarding closure of Columbus Machining Plant
The following exhibit is being furnished herewith:
99.2 INTERMET Corporation press release dated October 14, 2004
regarding cash collateral extension and commitment for DIP
financing
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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 14, 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
99.1 INTERMET Corporation press release dated October 14, 2004
regarding closure of Columbus Machining Plant
99.2 INTERMET Corporation press release dated October 14, 2004
regarding cash collateral extension and commitment for DIP
financing
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