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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): OCTOBER 27, 2005
TECUMSEH PRODUCTS COMPANY
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(Exact name of registrant as specified in its charter)
MICHIGAN 0-452 38-1093240
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
100 EAST PATTERSON STREET
TECUMSEH, MICHIGAN 49286
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (517) 423-8411
(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 (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))
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ITEM 2.05 COST ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
On October 27, 2005 senior management approved the Engine & Power Train
Group's plan to close our Corinth, Mississippi engine assembly plant and
consolidate U.S. engine assembly activities at our Dunlap, Tennessee facility.
Due to improvements in scheduling and productivity, as well as increased
Brazilian production, we believe we will be able to respond to customer demand
more efficiently from a single U.S. engine assembly facility. Layoffs are
expected to begin on or after December 31, 2005, and we expect the transition to
be substantially completed by March 31, 2006.
We estimate the cost of this action to be $1.5 million consisting
primarily of severance and asset relocation costs. Substantially all of these
costs will require a cash payment which will be incurred in the fourth quarter
2005.
October 28, 2005, we issued a press release about the shutdown of
engine assembly operations at our Corinth, Mississippi plant. We are filing a
copy of the press release as Exhibit 99.1 to this report.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
The following exhibit is filed with this report:
Exhibit No. Description
99.1 Press release dated October 28, 2005
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.
TECUMSEH PRODUCTS COMPANY
Date: October 31, 2005 By /s/ JAMES S. NICHOLSON
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James S. Nicholson
Vice President, Treasurer and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release dated October 28, 2005