0000031107-18-000024.txt : 20180604 0000031107-18-000024.hdr.sgml : 20180604 20180604135951 ACCESSION NUMBER: 0000031107-18-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180604 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180604 DATE AS OF CHANGE: 20180604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EASTERN CO CENTRAL INDEX KEY: 0000031107 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] IRS NUMBER: 060330020 STATE OF INCORPORATION: CT FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35383 FILM NUMBER: 18877600 BUSINESS ADDRESS: STREET 1: 112 BRIDGE ST STREET 2: P O BOX 460 CITY: NAUGATUCK STATE: CT ZIP: 06770 BUSINESS PHONE: 2037292255 MAIL ADDRESS: STREET 1: 112 BRIDGE STREET STREET 2: P O BOX 460 CITY: NAUGATUCK STATE: CT ZIP: 06770 8-K 1 load_lock.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: June 4, 2018
(Date of earliest event reported)


The Eastern Company
 (Exact name of Registrant as specified in its charter)


Connecticut
001-35383
06-0330020
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
  
identification No.)


112 Bridge Street, Naugatuck, Connecticut     06770
(Address of principal executive offices)  (Zip Code)


(203) 729-2255
 (Registrant's telephone number, including area code)

________________________________________________
(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 (see General Instruction A.2)

[ ]  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))



Section 7 – Regulation FD

ITEM 7.01 - Regulation FD Disclosure

On June 4, 2018, Eastern Company (the "Company") issued a press release announcing the acquisition of certain assets and the assumption of certain liabilities of Load N Lock Systems, Inc., a Michigan corporation (the "Seller") pursuant to an Asset Purchase Agreement dated June 2, 2018 between the Registrant and the "Seller". A copy of the press release is being furnished as Exhibit 99 hereto.



Section 9 – Financial Statements and Exhibits

ITEM 9.01 - (d) Exhibits

(99)
Press Release dated June 4, 2018 announcing the acquisition of certain assets and assumption of certain liabilities of Load N Lock Systems, Inc.





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.


 
The Eastern Company


Date: June 4, 2018
/s/John L. Sullivan III
 
John L. Sullivan III
 Vice President and CFO



EX-99 2 ex99_loadlockpr.htm
Exhibit 99
FOR IMMEDIATE RELEASE
June 4, 2018


EASTERN STRENGTHENS ITS SECURITY PRODUCTS SEGMENT
 WITH THE ACQUISITION OF CERTAIN ASSETS OF LOAD N LOCK


Naugatuck, CT–The Eastern Company (NASDAQ-EML) (the "Company" or "Eastern"), a diversified provider of niche industrial products and services, today announced that it has acquired specific assets of Load N Lock Systems, Inc., ("Load N Lock") including products and intellectual property.  The Company did not disclose the terms of the transaction.

Load N Lock is a leader in innovative truck cap and tonneau cover locks that keep truck contents safe and secure.  Load N Lock developed and patented the first integrated power lock for the industry and has developed numerous truck cap and tonneau cover lock related products.  Load N Lock provides its innovative products and solutions to the industry's leading manufacturers in the United States and Asia.

Load N Lock will operate as a part of Eastern's Illinois Lock Company ("ILC"), a part of Eastern's Security Products Segment.  According to Mr. Jeffrey Fleming, ILC's Managing Director, "The acquisition of Load N Lock solidifies ILC's position as a leading supplier of engineered access and security hardware in the vehicle accessory segment, a core growth market for ILC.  Moreover, Load N Lock's intellectual property and product platforms accelerate ILC's new product development efforts and shorten the commercialization process for both core and adjacent opportunities".  Mr. Fleming continues that "the acquisition of Load N Lock's assets is a step forward in the execution of our 3-year growth plan".

Mr. Matt Lepard, President of Load N Lock added that, "we are excited about this transaction and believe it is a big win for all our customers.  We believe that, together, ILC and Load N Lock can bring additional capabilities to our customers and take our relationships to a new level".

Mr. August Vlak, the Company's President and CEO, said that "this transaction further strengthens and builds scale in our ILC business and reflects our strategy for creating long-term shareholder value by investing in our best businesses through targeted acquisitions.  Moreover, we believe that the acquisition will be immediately accretive, excluding the impact of one-time expenses".

About Eastern

Eastern is a 160-year-old diversified provider of custom-engineered niche industrial products and services, including industrial hardware, security products and metal castings.  The Company operates from 13 locations in the U.S., Canada, Mexico, Taiwan, and China.

Safe Harbor for Forward-Looking Statements

Statements in this document about the Company's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statements that are not statements of historical fact (including statements containing the words "believes", "plans", "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including those set forth in the Company's reports and filings with the U.S. Securities and Exchange Commission. The Company is not obligated to update or revise any forward-looking statements as a result of developments occurring after the date of this document.


The Eastern Company
August Vlak or John L. Sullivan III, 203-729-2255