-----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, JcBkQ/hHAeWgOpkQi0l8/uZGPcFVsRN3AweIWO+NJZBiTcySlb8Hs10sYakmQOp0 6p2FPs5SNnWshTCVgqoviw== 0001193125-09-113081.txt : 20090515 0001193125-09-113081.hdr.sgml : 20090515 20090515160705 ACCESSION NUMBER: 0001193125-09-113081 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090514 FILED AS OF DATE: 20090515 DATE AS OF CHANGE: 20090515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Avago Technologies Finance Pte. Ltd. CENTRAL INDEX KEY: 0001376403 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-137664 FILM NUMBER: 09833030 BUSINESS ADDRESS: STREET 1: 1 YISHUN AVENUE 7 CITY: SINGAPORE STATE: U0 ZIP: 768923 BUSINESS PHONE: 65-6755-7888 MAIL ADDRESS: STREET 1: 1 YISHUN AVENUE 7 CITY: SINGAPORE STATE: U0 ZIP: 768923 6-K 1 d6k.htm CURRENT REPORT ON FORM 6-K Current Report on Form 6-K
Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

May 15, 2009

Commission File Number: 333-137664

Avago Technologies Finance Pte. Ltd.

(Translation of registrant’s name into English)

Republic of Singapore

(Jurisdiction of incorporation or organization)

1 Yishun Avenue 7

Singapore 768923

Tel: (65) 6755-7888

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

þ  Form 20-F    ¨  Form 40-F

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):    ¨

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):    ¨

 

 

 


Table of Contents

TABLE OF CONTENTS

 

Item 2.05 Costs Associated with Exit or Disposal Activities

   3

Item 9.01. Financial Statements and Exhibits

   4

SIGNATURE

   5

EXHIBIT 99.1

  


Table of Contents
Item 2.05 Costs Associated with Exit or Disposal Activities

On May 14, 2009, Avago Technologies Finance Pte. Ltd. (the “Company”) announced further reductions in its worldwide workforce of up to 200 employees. Since the beginning of fiscal year 2009, Avago Finance has cut its workforce by approximately 475 employees or 13 percent through attrition and restructuring.

The Company expects to record charges of approximately $8 million to $10 million, which will be primarily cash charges, for the latest reduction. Approximately $3 million to $5 million of these charges will be reflected in the financial results for the third quarter of fiscal 2009, ending August 2, 2009. The remainder will be included in the financial results for fourth quarter of fiscal 2009, ending November 1, 2009.

The foregoing description is qualified in its entirety by reference to the Registrant’s release dated May 14, 2009, a copy of which is attached hereto as Exhibit 99.1.

The information contained in this Report on Form 6-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing.

 

3


Table of Contents
Item 9.01. Financial Statements and Exhibits

 

  (d) Exhibits.

 

Exhibit No.

  

Description

99.1    Release distributed by Avago Technologies Finance Pte. Ltd. on May 14, 2009 entitled “Avago Technologies Finance Announces Continued Workforce Reductions”

 

4


Table of Contents

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, thereunto duly authorized.

Date: May 15, 2009

 

Avago Technologies Finance Pte. Ltd.
By:   /s/ Douglas R. Bettinger
Name:   Douglas R. Bettinger
Title:   Senior Vice President and Chief Financial Officer

 

5

EX-99.1 2 dex991.htm RELEASE DISTRIBUTED BY AVAGO TECHNOLOGIES FINANCE PTE. LTD. ON MAY 14, 2009 Release distributed by Avago Technologies Finance Pte. Ltd. on May 14, 2009

Exhibit 99.1

Avago Technologies Finance Announces Continued Workforce Reductions

SAN JOSE, Calif., and SINGAPORE – May 14, 2009 – Avago Technologies Finance Pte. Ltd. (“Avago Finance”), a leading designer, developer and global supplier of analog semiconductor devices, today announced further reductions in its worldwide workforce of up to 200 employees. Since the beginning of fiscal year 2009, Avago Finance has cut its workforce by approximately 475 employees or 13 percent through attrition and restructuring.

The Company expects to record charges of approximately $8 million to $10 million, which will be primarily cash charges, for the latest reduction. Approximately $3 million to $5 million of these charges will be reflected in the financial results for the third quarter of fiscal 2009, ending August 2, 2009. The remainder will be included in the financial results for fourth quarter of fiscal 2009, ending November 1, 2009.

About Avago Technologies Finance Pte. Ltd

Avago Technologies Finance Pte. Ltd. is a leading designer, developer and global supplier of analog semiconductor devices for communications, industrial and consumer applications.

Safe Harbor Statement

This announcement and supporting materials may contain forward-looking statements which address our expected future business and financial performance. These forward looking statements are based on current expectations, estimates, forecasts and projections of future Company or industry performance based on management’s judgment, beliefs, current trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Accordingly, we caution you not to place undue reliance on these statements. For Avago Finance, particular uncertainties which could adversely or positively affect future results include cyclicality in the semiconductor industry or in our end markets; the recent financial crisis and its impact on our business, results of operations, and financial condition; fluctuations in interest rates; our ability to generate cash sufficient to service our debt and to fund our research and development, capital expenditures and other business needs; our increased dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain tax concessions in certain jurisdictions; our ability to protect our intellectual property; our competitive performance and ability to continue achieving design wins with our customers; any expenses associated with resolving customer product and warranty claims; our ability to achieve the growth prospects and synergies expected from our acquisitions; delays and challenges associated with integrating acquired companies with our existing businesses; our ability to improve our cost structure through our manufacturing outsourcing program; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Our Annual Report on Form 20-F filed with the SEC on December 17, 2008, recent Current Reports on Form 6-K, and other Avago Finance filings with the U.S. Securities and Exchange Commission (“SEC”) (which you may obtain for free at the SEC’s website at http://www.sec.gov) discuss some of the important risk factors that may affect our business, results of operations and financial condition.

An affiliate of Avago Finance has filed a registration statement with the SEC relating to a proposed offering which has not yet become effective. Such securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release is not an offer to sell nor a solicitation of an offer to buy any securities.

Investor Contact:

Jim Fanucchi

Summit IR Group Inc.

(408) 404-5400

jim@summitirgroup.com

-----END PRIVACY-ENHANCED MESSAGE-----