0001104659-12-007820.txt : 20120208 0001104659-12-007820.hdr.sgml : 20120208 20120208162431 ACCESSION NUMBER: 0001104659-12-007820 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120202 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20120208 DATE AS OF CHANGE: 20120208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AXCELIS TECHNOLOGIES INC CENTRAL INDEX KEY: 0001113232 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 341818596 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30941 FILM NUMBER: 12582216 BUSINESS ADDRESS: STREET 1: 108 CHERRY HILL DRIVE CITY: BEVERLY STATE: MA ZIP: 01915 BUSINESS PHONE: 978 232 4001 MAIL ADDRESS: STREET 1: 108 CHERRY HILL DRIVE CITY: BEVERLY STATE: MA ZIP: 01915 FORMER COMPANY: FORMER CONFORMED NAME: EATON SEMICONDUCTOR EQUIPMENT INC DATE OF NAME CHANGE: 20000501 8-K 1 a12-4422_18k.htm 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 (Date of earliest event reported):  February 2, 2012

 

Axcelis Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

000-30941

 

34-1818596

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

 

108 Cherry Hill Drive, Beverly, Massachusetts

 

01915

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:   (978) 787-4000

 

 

(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:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Item 2.05 Costs Associated with Exit or Disposal Activities.

 

On February 2, 2012, Axcelis Technologies, Inc. (“Axcelis”) communicated a plan of termination to employees under which material charges will be incurred under generally accepted accounting principles applicable to Axcelis.  These reductions are designed to lower expense levels so that Axcelis can be more profitable over the course of the industry ups and downs, while at the same time implementing a focused product strategy based on our competitive position.  The reductions are estimated to yield savings of $8 million to $12 million annually.

 

Axcelis anticipates recording restructuring charges in connection with employee termination benefits in the range of $2.5 million to $3.5 million during the first and second quarters of 2012.  These benefits will be paid in cash to employees, over their severance periods.  No other type of costs are expected to be incurred in connection with this action

 

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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.

 

Date: February 8, 2012

Axcelis Technologies, Inc.

 

 

 

 

 

By:

/s/ JAY ZAGER

 

 

Jay Zager

 

 

Executive Vice President

 

 

and Chief Financial Officer

 

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