SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25 COMMISSION FILE NUMBER
333-72305
COMMISSION FILE NUMBER
333-72305-01
NOTIFICATION OF LATE FILING
(Check One): [_] Form 10-K [_] Form 11-K [_] Form 20-F [X] Form 10-Q
[_] Form N-SAR
For Period Ended: September 30, 2002
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[_] Transition Report on Form 10-K
[_] Transition Report on Form 20-F
[_] Transition Report on Form 11-K
[_] Transition Report on Form 10-Q
[_] Transition Report on Form N-SAR
For the Transition Period Ended: _______________________________________________
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Read attached instruction sheet before preparing form. Please print or type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
Advanced Glassfiber Yarns LLC
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Full name of registrant
N/A
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Former name if applicable
2558 Wagener Road
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Address of principal executive office (Street and Number)
Aiken, South Carolina 29801
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City, state and zip code
AGY Capital Corp.
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Full name of co-registrant
N/A
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Former name if applicable
2558 Wagener Road
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Address of principal executive office (Street and Number)
Aiken, South Carolina 29801
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City, state and zip code
PART II - RULE 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate.)
[X] (a) The reasons described in reasonable detail in Part III of
this form could not be eliminated without unreasonable
effort or expense;
[X] (b) The subject annual report, semi-annual report, transition
report on Form 10-K, 20-F, 11-K or Form N-SAR, or portion
thereof, will be filed on or before the 15th calendar day
following the prescribed due date; or the subject quarterly
report or transition report on Form 10-Q, or portion
thereof, will be filed on or before the fifth calendar day
following the prescribed due date; and
[_]
(c) The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period. (Attach extra sheets if needed.)
The Company requires additional time to adequately develop certain
financial information to be contained in its Quarterly Report on Form 10-Q
for the quarter ended September 30, 2002. As a result, the Company has been
unable to complete its Form 10-Q for the quarter ended September 30, 2002
within the prescribed time period without unreasonable effort or expense.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Catherine Cuisson (803) 643-1501
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is
no, identify report(s).
[X] Yes [_] No
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(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion
thereof?
[X] Yes [_] No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
It is anticipated that significant changes in the results of operations for
the Company's quarter ended September 30, 2002, as compared to the
corresponding period for the prior year, will be reflected in the financial
statements of the Company to be filed as part of the Company's quarterly
report on Form 10-Q for the quarter ended September 30, 2002. The Company
expects to report that its net sales decreased approximately $8-9 million,
or approximately 16-19%, to approximately $40-41 million in the three
months ended September 30, 2002, from $48.9 million in the three months
ended September 30, 2001, and the Company expects to incur a net loss for
the three months ended September 30, 2002, but that the magnitude of such
loss cannot be determined at this time because the Company is currently
considering whether it would be appropriate to take a charge for an
impairment on the value of its fixed assets.
The Company also expects to report that its net sales decreased
approximately $39-40 million, or approximately 22-23%, to approximately
$133-134 million in the nine months ended September 30, 2002, from $172.9
million in the nine months ended
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September 30, 2001, and the Company expects to incur a net loss for the
nine months ended September 30, 2002, but that the magnitude of such loss
cannot be determined at this time because the Company is currently
considering whether it would be appropriate to take a charge for an
impairment on the value of its fixed assets. The aforementioned amounts are
estimates only and may be subject to further adjustment.
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Advanced Glassfiber Yarns LLC
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 15, 2002 By: /s/ Catherine Cuisson
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Catherine Cuisson
Vice President and Chief Financial Officer
AGY Capital Corp.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 15, 2002 By: /s/ Catherine Cuisson
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Catherine Cuisson
Vice President and Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
Intentional misstatements or omissions of fact constitute Federal criminal
violations (see 18 U.S.C. 1001).