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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)
FEBRUARY 1, 2002
SIMONDS INDUSTRIES INC.
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(Exact name of registrant as specified in charter)
MASSACHUSETTS
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(State or other jurisdiction of incorporation)
333-62759 05-0484518
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(Commission file number) (IRS employer identification number)
135 INTERVALE STREET, FITCHBURG, MA 01420
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(Address of principal executive offices) (Zip code)
(978) 343-3731
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On February 1, 2002, Simonds Industries Inc. (the "Company") issued a
press release announcing that it has defaulted on its semi-annual interest
payment under its 10-1/4% Senior Subordinated Notes due in 2008 and that the
Company has retained the firm of Credit Suisse First Boston in order to examine
alternatives to strengthen its balance sheet. A copy of the Company's press
release is attached hereto and incorporated herein in its entirety.
FORWARD LOOKING INFORMATION
This news release includes forward-looking statements. Statements that describe
future expectations, plans or strategies are considered "forward-looking
statements" as that term is defined under the Private Securities Litigation
Reform Act of 1995 and releases issued by the Securities and Exchange
Commission. The words "believe," "expect," "anticipate," "intend," "estimate,"
and other expressions which are predictions of or indicate future events and
trends and which do not relate to historical matters identify forward-looking
statements. Such statements are subject to risks and uncertainties which could
cause actual results to differ materially from those currently anticipated.
Factors that could affect actual results include, among others, changes in
customers' demand for the Company's products, changes in raw material costs and
availability, seasonal changes in customer orders, pricing actions by
competitors, changes in copyright laws, consolidation among customers and
competitors, success in integration of acquired businesses, changes in
technology, and general changes in economic conditions. Although the Company
believes that the assumptions underlying the forward-looking statements are
reasonable, any of the assumptions could be inaccurate, and therefore, there can
be no assurance that the forward-looking statements will prove to be accurate.
The forward-looking statements included herein are made as of the date hereof,
and the Company undertakes no obligation to update publicly such statements to
reflect subsequent events or circumstances.
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SIGNATURE
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.
SIMONDS INDUSTRIES INC.
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(Registrant)
Date: February 1, 2002 By: /s/ Henry Botticello
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Name: Henry Botticello
Title: Chief Financial Officer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press Release of Simonds Industries Inc., dated February 1, 2002