-----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, AinlpQ1jT6yS0G6fVBcxFEtIb5y8+h3D685GvF+FKA4OwoGln9xuJsYveZmZjCYM r8IPXplETWVSBK5SZT+AcA== 0000018937-09-000006.txt : 20090522 0000018937-09-000006.hdr.sgml : 20090522 20090520164339 ACCESSION NUMBER: 0000018937-09-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090519 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20090520 DATE AS OF CHANGE: 20090520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CERADYNE INC CENTRAL INDEX KEY: 0000018937 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 330055414 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13059 FILM NUMBER: 09843048 BUSINESS ADDRESS: STREET 1: 3169 RED HILL AVENUE CITY: COSTA MESA STATE: CA ZIP: 92626 BUSINESS PHONE: 7145490421 MAIL ADDRESS: STREET 1: 3169 RED HILL AVENUE CITY: COSTA MESA STATE: CA ZIP: 92626 8-K 1 form8-k.htm CERADYNE INC. FORM 8-K 05-19-09 form8-k.htm




 
 
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)
 
May 19, 2009
 
CERADYNE, INC.
 
(Exact name of registrant as specified in its charter)
Delaware
000-13059
33-0055414
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

3169 Red Hill Avenue, Costa Mesa, CA
92626
(Address of principal executive offices)
(Zip Code)
 
Registrant's telephone number, including area code:  (714) 549-0421
 
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))
 
Exhibit Index on page 4

 


 
 

 
Item 7.01                      Regulation FD Disclosure.
 

On May 19, 2009, Ceradyne, Inc. issued a press release announcing that, in accordance with the French legal process, its ESK Ceramics France subsidiary (“ESK France”) is presenting to the local employees’ representatives a plan for closing its manufacturing plant in Bazet, France, effective later this year. As a result, it is anticipated that ESK France will reduce its workforce by approximately 95 employees. The total pre-tax charges relating to this corporate restructuring are estimated to be in the range of approximately $11.0 to $13.0 million, including non-cash pre-tax charges of approximately $2.2 million relating primarily to assets that will be written off or disposed of in connection with the closure of the facility. The majority of these pre-tax charges will be accrued during the second quarter of 2009. A copy of the complete press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
 
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
 
Item 9.01                      Financial Statements and Exhibits.
 
 (d)           Exhibits.
 
Exhibit Number
 
Description
99.1
 
Press release of Ceradyne, Inc. dated May 19, 2009.

 

 
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.
 
                   
            CERADYNE, INC.
 
 
May 19, 2009                                                                                     By:  /s/ Jerrold J. Pellizzon 
                                        Jerrold J. Pellizzon
                        Chief Financial Officer and Secretary

 
3
 

EXHIBIT INDEX
 
Exhibit Number
Description
99.1
Press release of Ceradyne, Inc. dated May 19, 2009.

 
4
 

EX-99.1 2 exhibit99-1.htm PRESS RELEASE 05-19-09 exhibit99-1.htm
 
 
                                                                                                                                                                     60;                               EXHIBIT 99.1
 



Jerrold J. Pellizzon
Phil Bourdillon/Gene Heller
Chief Financial Officer
Silverman Heller Associates
(714) 549-0421
(310) 208-2550


CERADYNE, INC. IN COST CUTTING MEASURE
WILL CLOSE MANUFACTURING PLANT IN FRANCE

Costa Mesa, Calif.–May 19, 2009–Ceradyne, Inc. (Nasdaq: CRDN) announced today that, in accordance with the French legal process, its ESK Ceramics France subsidiary (“ESK France”) is presenting to the local employees’ representatives a plan for closing its manufacturing plant in Bazet, France, effective later this year. As a result, it is anticipated that ESK France will reduce its workforce by approximately 95 employees, primarily composed of manufacturing, production and additional support staff at the plant. This action is being implemented as a cost-cutting measure to elminate losses that were incurred at this facility due to the recent severe economic contraction and is consistent with Ceradyne’s ongoing objective to lower the costs of its manufacturing operations.
 
This manufacturing facility is an 88,000 square foot building owned by ESK France that has been used to support the production of various industrial ceramic products. Production of these products will be transferred to its German subsidiary, ESK Ceramics GmbH & Co. KG (“ESK Ceramics”) in Kempten, Germany.
 
Affected employees will be eligible for a severance package that includes severance pay, continuation of benefits and outplacement services. Pre-tax charges relating to this corporate restructuring will also include various other costs to close the plant. The total pre-tax charges are estimated to be in the range of approximately $11.0 to $13.0 million, including non-cash pre-tax charges of approximately $2.2 million relating primarily to assets that will be written off or disposed of in connection with the closure of the facility. The majority of these pre-tax charges will be accrued during the second quarter of 2009. Although discussed in the April 28, 2009 teleconference, these non-recurring pre-tax charges were not included in the updated earnings guidance provided during that teleconference.
 
Joel P. Moskowitz, Ceradyne president and chief executive officer, commented: “The contributions made by all members of the team at Bazet are sincerely appreciated. This strategic decision was difficult but necessary to ensure that ESK Ceramics in Germany focuses its resources and invests appropriately in the production and marketing of products that represent significant value to its customers.
 
“Our entire ESK Ceramics management team as well as the rest of the Ceradyne organization is focused on the challenges of the global economic downturn. Our plan is to continue to “right-size” our company without compromising our dedication to manufacturing high-quality products at the lowest possible costs and emerge from this recession as a more efficient company.”

Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information can be found at the Company’s web site:  www.ceradyne.com.

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date thereof.
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