-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fbo3ltz4Q4va/Lo5cRoXu7EOMCEXd2KzJeXxqkuQNDZ2GoGCx0npvNtXlLQWwqlg x7M/HhNk1f0eaOeK2mST+w== 0001157523-07-009890.txt : 20071017 0001157523-07-009890.hdr.sgml : 20071017 20071017090255 ACCESSION NUMBER: 0001157523-07-009890 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071017 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071017 DATE AS OF CHANGE: 20071017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Spectrum Brands, Inc. CENTRAL INDEX KEY: 0001028985 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 222423556 STATE OF INCORPORATION: WI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13615 FILM NUMBER: 071175424 BUSINESS ADDRESS: STREET 1: 6 CONCOURSE PARKWAY STREET 2: SUITE 3300 CITY: ATLANTA STATE: GA ZIP: 30328 BUSINESS PHONE: 7708296200 MAIL ADDRESS: STREET 1: 6 CONCOURSE PARKWAY STREET 2: SUITE 3300 CITY: ATLANTA STATE: GA ZIP: 30328 FORMER COMPANY: FORMER CONFORMED NAME: RAYOVAC CORP DATE OF NAME CHANGE: 19961213 8-K 1 a5519937.txt SPECTRUM BRANDS, INC. 8-K 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: October 17, 2007 ------------------------------------------ (Date of earliest event reported) SPECTRUM BRANDS, INC. ---------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Wisconsin 001-13615 22-2423556 - ------------------------------- --------------------- ------------------- (State or other Jurisdiction of (Commission File No.) (IRS Employer Incorporation) Identification No.) Six Concourse Parkway, Suite 3300, Atlanta, Georgia 30328 --------------------------------------------------------- (Address of principal executive offices, including zip code) (770) 829-6200 ---------------------------------------------------- (Registrant's telephone number, including area code) N/A ------------------------------------------------------------- (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)) ITEM 8.01. OTHER EVENTS On October 17, 2007, Spectrum Brands, Inc. announced that it is postponing its previously announced strategic asset sale process due to recent challenging conditions in the credit markets. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 99.1 Press Release dated October 17, 2007 issued by Spectrum Brands, Inc. 2 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. Date: October 17, 2007 SPECTRUM BRANDS, INC. By: /s/ Anthony L. Genito ------------------------------------ Name: Anthony L. Genito Title: Executive Vice President and Chief Financial Officer EXHIBIT INDEX Exhibit Description - ------- ----------- 99.1 Press Release dated October 17, 2007 issued by Spectrum Brands, Inc. EX-99.1 2 a5519937-ex991.txt EXHIBIT 99.1 EXHIBIT 99.1 Spectrum Brands Announces Postponement of Strategic Asset Sale ATLANTA--(BUSINESS WIRE)--Oct. 17, 2007--Spectrum Brands, Inc. (NYSE:SPC) announced today that it is postponing its previously announced strategic asset sale process due to recent challenging conditions in the credit markets. Spectrum Brands Chief Executive Officer Kent Hussey said, "We are still committed to reducing outstanding indebtedness and leverage through the sale of assets. We believe that postponing the auction process until such time as the credit markets improve will allow us to achieve a full and fair valuation of these assets." On October 1, 2007, Spectrum Brands put in place a $225 million asset-based revolving credit facility. The company reiterated that this facility, which was undrawn at September 30, 2007, provides sufficient liquidity to operate its business on an ongoing basis. Forward Looking Statements Certain matters discussed in this news release, with the exception of historical matters, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially from these statements as a result of (1) changes in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (2) changes in consumer demand for the various types of products Spectrum Brands offers, (3) changes in the general economic conditions where Spectrum Brands does business, such as interest rates, currency exchange rates, inflation, consumer spending and raw material costs, (4) the company's ability to successfully implement manufacturing, distribution and other cost efficiencies, and various other factors, including those discussed herein and those set forth in Spectrum Brands' securities filings, including the most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q. About Spectrum Brands, Inc. Spectrum Brands is a global consumer products company and a leading supplier of batteries, portable lighting, lawn and garden products, household insect control, shaving and grooming products, personal care products and specialty pet supplies. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in 120 countries around the world. Headquartered in Atlanta, Georgia, Spectrum Brands generated net sales of $2.5 billion in fiscal 2006 and has approximately 7,500 employees worldwide. The company's stock trades on the New York Stock Exchange under the symbol SPC. CONTACT: Spectrum Brands Investor Contact: Nancy O'Donnell, 770-829-6208 (VP Investor Relations) or Sard Verbinnen & Co for Spectrum Brands Media Contact: Victoria Hofstad or Jamie Tully, 212-687-8080 -----END PRIVACY-ENHANCED MESSAGE-----