UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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 28, 2004
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LEXINGTON PRECISION CORPORATION
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-3252 22-1830121
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(Commission File Number) (IRS Employer Identification No.)
40 EAST 52ND STREET, NEW YORK, NY 10022
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(Address of Principal Executive Offices) (Zip Code)
(212) 319-4657
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(Registrant's Telephone Number, Including Area Code)
N/A
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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))
SECTION 2 - FINANCIAL INFORMATION
ITEM 2.05 COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.
On September 28, 2004, Lexington Precision Corporation (the
"Company") committed to plan to discontinue the operations of the
Company's Lexington Die Casting division ("LDC"), which is a part of
the Company's Metals Group segment. The Company decided to discontinue
the operations of LDC because of the poor financial performance of LDC
over the past several years and reduced expectations for LDC's future
financial performance. The Company intends to attempt to sell LDC as a
going concern; however, if it is unable to do so, the Company plans to
close the operations of LDC during the fourth quarter of 2004 or the
first quarter of 2005.
The Company is presently evaluating potential buyers for
LDC as well as the costs that may be incurred in closing LDC in the
event satisfactory terms cannot be reached with a buyer. Further, as
described in Item 2.06 below, the Company is also evaluating whether
any impairment charge related to LDC is required in the quarter ended
September 30, 2004, as a result of the decision to discontinue the
operations of LDC.
ITEM 2.06 MATERIAL IMPAIRMENTS.
In connection with the decision to discontinue the
operations of LDC (the details of which are described under Item 2.05
above), the Company may incur an impairment charge in the quarter ended
September 30, 2004. At the present time, the Company is not able to
estimate the amount of the impairment charge, if any, that may be
required.
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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.
LEXINGTON PRECISION CORPORATION
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(Registrant)
Date: October 4, 2004
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By: /s/ Dennis J. Welhouse
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(Signature)*
Name: Dennis J. Welhouse
Title: Senior Vice President and Chief
Financial Officer
*Print name and title of the signing officer under his signature.
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