0001057698-13-000035.txt : 20130820 0001057698-13-000035.hdr.sgml : 20130820 20130820070702 ACCESSION NUMBER: 0001057698-13-000035 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20130820 FILED AS OF DATE: 20130820 DATE AS OF CHANGE: 20130820 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORDION INC. CENTRAL INDEX KEY: 0001057698 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15016 FILM NUMBER: 131049683 BUSINESS ADDRESS: STREET 1: 447 MARCH ROAD CITY: OTTAWA STATE: A6 ZIP: K2K 1X8 BUSINESS PHONE: 613.592.3400 MAIL ADDRESS: STREET 1: 447 MARCH ROAD CITY: OTTAWA STATE: A6 ZIP: K2K 1X8 FORMER COMPANY: FORMER CONFORMED NAME: MDS INC. DATE OF NAME CHANGE: 20090501 FORMER COMPANY: FORMER CONFORMED NAME: MDS INC DATE OF NAME CHANGE: 19980312 6-K 1 mds_6kpressa.htm NORDION INC. - 6K mds_6kpressa.htm


FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of:   August, 2013
 
Commission File Number:                 01-15016                      
 
 
 
NORDION INC.
(Translation of registrant's name into English)
 
447 March Road
Ottawa, Ontario Canada  K2K 1X8
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F......... Form 40-F....X.....
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
 
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
Note:  Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
 
 
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, thereunto duly authorized.
 
     
  NORDION INC.
 
 
 
 

 
 
Date:    August 20, 2013 By:    /s/ Grant Gardiner
 
Grant Gardiner
  Title:  Senior Vice-President, General Counsel & Corporate Secretary
 
Documents Included as Part of this report: 

 
No.  
 
 
Document
 
1.
NORDION INC.  - NORDION REACHES SETTLEMENT WITH AECL TO RESOLVE MAPLE LAWSUITS AND ARBITRATION COSTS 
    
EX-99.1 2 nordion_press20aug2013.htm NORDION INC. - NORDION REACHES SETTLEMENT WITH AECL TO RESOLVE MAPLE LAWSUITS AND ARBITRATION COSTS nordion_press20aug2013.htm


For Immediate Release


Nordion Reaches Settlement with AECL to Resolve MAPLE Lawsuits
and Arbitration Costs
Company also announces an amended and restated isotope supply agreement and a waste management services agreement

OTTAWA, CANADA – August 20, 2013 – Nordion Inc. (TSX: NDN) (NYSE: NDZ) announced today that Nordion and Atomic Energy of Canada Limited (“AECL”) have entered into a comprehensive settlement agreement to resolve the outstanding claims between both parties related to the MAPLE facilities. Nordion has also announced that, effective immediately, the parties have entered into an amended and restated isotope supply agreement and a waste management services agreement.

“This resolution provides greater clarity for Nordion and removes the uncertainty and liability around these matters,” said Steve West, Chief Executive Officer, Nordion Inc. “Nordion is now better positioned to focus on the needs and priorities of our business, including our important relationship with AECL, with a continued view to enhancing shareholder value and creating new opportunities for the company and our customers.”

Under the terms of the settlement agreement, Nordion will receive CAD$15 million in cash from AECL, and AECL has released its claim against Nordion of approximately CAD$47 million for  arbitration costs. Nordion has correspondingly withdrawn its MAPLE-related lawsuit against AECL in relation to the Isotope Production Facilities Agreement (“IPFA”) and the parties have released each other from claims relating to the IPFA and related litigation. The release of claims includes Nordion’s claim for  damages against AECL under the IPFA of approximately CAD$244 million and AECL’s IPFA counterclaim for damages against Nordion of CAD$80 million.

The amended and restated isotope supply agreement is a non-exclusive agreement for medical isotope supply by AECL to Nordion, which has a term ending October 31, 2016. The supply agreement may also be terminated upon, among other things, Nordion establishing a satisfactory alternative supply of isotopes, the permanent shutdown of AECL's isotope production facilities, Nordion's failure to meet a minimum purchase quantity and any force majeure that continues for a period of more than two years. The primary cost of supply of medical isotopes will continue to be determined based on a revenue share methodology. Starting in 2014, the percentage of revenue share that AECL receives each year will increase throughout the term of the supply agreement contributing to a mid single-digit decrease in Nordion’s Medical Isotopes gross margin percentage over the course of the contract. In addition, Nordion has entered into an agreement to continue waste disposal services from AECL until October 31, 2026.

The settlement agreement will be available on Nordion's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

About Nordion Inc.
Nordion Inc. (TSX: NDN) (NYSE: NDZ) is a global health science company that provides market-leading products used for the prevention, diagnosis and treatment of disease. We are a leading provider of medical isotopes and sterilization technologies that benefit the lives of millions of people in more than 40 countries around the world. Our products are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories. Nordion has approximately 450 highly skilled employees in three locations. Find out more at www.nordion.com and follow us at http://twitter.com/NordionInc.  

Forward-Looking Statements
This news release contains "forward-looking statements" relating to the net amount expected to be realized from the transaction, the impact of the amended and restated isotope supply agreement on Nordion’s gross margin for Medical Isotopes and the duration of waste disposal services that are not historical facts. Such statements are subject to known and unknown important risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from the forward-looking statements in this news release.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Except as may be required by securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on expectations of, or statements made by, third parties in respect of the transaction.

For additional information with respect to certain of these and other beliefs, assumptions, risks and uncertainties, please refer to Nordion’s Annual Information Form for fiscal 2012 available on SEDAR at www.sedar.com and on EDGAR on www.sec.gov.  These documents are also available on Nordion’s website at www.nordion.com.



CONTACTS:
INVESTORS:
Ana Raman
(613) 595-4580
investor.relations@nordion.com

MEDIA:
Shelley Maclean
(613) 592-3400 x 2414
shelley.maclean@nordion.com


SOURCE: Nordion

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