-----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, Emx9rglUjEwaKQNGBhT/6EnlQq2nL6XfdZkTbSI6xgdQ3y+9lrbidR70JJTYbD9u QsFVwmXNPuahGr30Itu86Q== 0001157523-05-009379.txt : 20051028 0001157523-05-009379.hdr.sgml : 20051028 20051028164312 ACCESSION NUMBER: 0001157523-05-009379 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051028 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051028 DATE AS OF CHANGE: 20051028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNOVA INC CENTRAL INDEX KEY: 0001044590 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 954647021 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13279 FILM NUMBER: 051163756 BUSINESS ADDRESS: STREET 1: 6001 36TH AVENUE WEST CITY: EVERETT STATE: WA ZIP: 98203-1264 BUSINESS PHONE: 425-265-2400 MAIL ADDRESS: STREET 1: 6001 36TH AVENUE WEST CITY: EVERETT STATE: WA ZIP: 98203-1264 8-K 1 a5007280.txt UNOVA 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 UNOVA, INC. (Exact name of registrant as specified in its charter) Delaware 001-13279 95-4647021 (State or other jurisdiction (Commission file number) (I.R.S. Employer of incorporation) Identification Number) 6001 36th Avenue West 98203-1264 Everett, Washington (Zip Code) www.unova.com (Address of principal executive offices and internet site) Registrant's telephone number, including area code: (425) 265-2400 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 1.01 Entry into a Material Definitive Agreement UNOVA, Inc. (the "Company") has agreed to sell its Landis Grinding Systems division ("Landis") to members of Groupe Fives-Lille, which is engaged in international industrial engineering, pursuant to a Purchase and Sale Agreement dated October 27, 2005 (the "Agreement"). The selling parties under the Agreement are the Company and its wholly owned subsidiaries UNOVA Industrial Automation Systems, Inc. ("UIASI"), UNOVA U.K. Limited and UNOVA IP Corp. The purchasing parties are Compagnie de Fives-Lille, a private French company ("CFL"), Cinetic Landis Grinding Corp., a Delaware corporation ("Buyer US"), and Cinetic Landis Grinding Limited, a United Kingdom company. Under the Agreement, the purchasing parties will acquire the global operations of Landis through the purchase of substantially all of the assets of the Landis Grinding Systems, Gardner Abrasives, and CITCO divisions of UIASI in the U.S. and the Landis Lund and Cranfield Precision divisions of UNOVA U.K. Limited in the United Kingdom. The consideration for the purchased assets consists of $69 million in cash, a $10 million two-year note at an interest rate of five percent per annum guaranteed by CFL, and the assumption of certain liabilities, including approximately $30 million relating to pension and other post-retirement obligations. The purchase price is subject to possible adjustments based on net working assets at closing. Pursuant to the Agreement, UIASI will retain two facilities. Buyer US will lease such Landis properties located in Waynesboro, Pennsylvania and South Beloit, Illinois on a triple net basis for two years and three years, respectively, at nominal rent for the first two years and at market rates thereafter. Buyer US has an option to purchase the Waynesboro property at fair market value, exercisable until the end of the third year. The Agreement contains customary covenants and closing conditions, including operation of Landis in the ordinary course until the closing, obtaining third-party consents to the transaction, and noncompetition for five years in the U.S. and three years in the U.K. Early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was granted September 27, 2005. The transaction is also subject to clearance under the European Union merger control regulation; closing is expected to occur in December 2005, following receipt of such clearance. Item 8.01. Other Events On October 28, 2005, the Company issued a press release announcing the execution of the Agreement, which release is attached as Exhibit 99.1 hereto. Item 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description 99.1 Press release issued by UNOVA, Inc. dated October 28, 2005. 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. UNOVA, INC. By: /s/ Cathy D. Younger -------------------------------------- Cathy D. Younger Vice President, Corporate Secretary and October 28, 2005 Senior Transactions Counsel EX-99.1 2 a5007280ex991.txt EXHIBIT 99.1 Exhibit 99.1 UNOVA Signs Definitive Agreement for the Sale of Its Landis Operations EVERETT, Wash.--(BUSINESS WIRE)--Oct. 28, 2005--UNOVA, Inc. (NYSE:UNA) today announced that it has agreed to sell its Landis Grinding Systems operations to Groupe Fives-Lille, a leading industrial engineering group based in Montreuil-sous-Bois, France. The anticipated transaction will fully complete UNOVA's stated commitment to divest its Industrial Automation Systems businesses. The transaction is subject to customary closing conditions and is expected to be completed by year end. Under the terms of the agreement, Groupe Fives-Lille will purchase the global operations of UNOVA's Landis Grinding Systems. The consideration consists of approximately $70 million in cash, a $10 million two-year note plus the assumption of post retirement medical obligations and certain pension obligations for active employees. The consideration is subject to closing balance sheet adjustments. The Landis Grinding Systems businesses have been operating as a division under UNOVA's Industrial Automation Systems segment. UNOVA anticipates no interruption to the Landis Grinding Systems' business, customer relationships or strategic direction while the transaction is being completed. About Groupe Fives-Lille Groupe Fives-Lille ("GFL") is a leading international industrial engineering group, which designs and produces equipment, primarily for the aluminum, automotive, steel and cement industries. For more information, please visit GFL's website at www.fiveslille.com. About UNOVA UNOVA is a leader in global supply chain solutions and in the development, manufacture and integration of wired and wireless automated data collection, mobile computing systems, bar code printers, label media and Intellitag(R) RFID (radio frequency identification). The company's products and services are used by customers in many industries to improve productivity, quality and responsiveness of business operations, from supply chain management and enterprise resource planning to field sales and service. www.unova.com (Forward-looking Statement) Certain forward-looking statements in this release (as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934) relate to matters that are not historical facts. The forward-looking statements about the completion of the sale of the Landis Group Operations to Groupe Fives-Lille are based on management's current expectations. The statements included in this release are not guarantees. Completion of this transaction is dependent upon the conclusion of customary closing conditions and completion of the sale and the actual timing of closing will depend upon completion of these conditions and exchange of consideration. Such forward-looking statements involve and are dependent upon certain risks and uncertainties. These include, but are not limited to, other risks and uncertainties described more fully in the Company's filings on Form 10-K and 10-Q with the Securities and Exchange Commission. CONTACT: UNOVA, Inc. Kevin P. McCarty, 425-265-2472 kmccarty@unova.com -----END PRIVACY-ENHANCED MESSAGE-----