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) September
21, 2016
FLEXSTEEL
INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
|
Minnesota |
0-5151 |
42-0442319 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
385 Bell St, Dubuque, Iowa |
52001 |
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code 563-556-7730
|
|
|
(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. below):
⃞ 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))
Item 8.01 Other Events.
On September 21, 2016, Flexsteel Industries, Inc. issued a press release announcing the Company’s intent to retire its aging Dubuque, Iowa manufacturing facility. A copy of the Press Release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 – Press Release by Flexsteel Industries, Inc. on September 21, 2016.
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.
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FLEXSTEEL INDUSTRIES, INC. |
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| (Registrant) | ||||||
| Date: |
September 21, 2016 |
By: |
/s/ Timothy E. Hall |
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Timothy E. Hall |
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Senior Vice President-Finance, CFO, and Secretary |
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Principal Financial and Accounting Officer |
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Exhibit 99.1
Flexsteel to Retire Aging Dubuque Manufacturing Facility
DUBUQUE, Iowa--(BUSINESS WIRE)--September 21, 2016--Flexsteel Industries, Inc. (NASDAQ:FLXS) announced today that it intends to exit its manufacturing facility located on Jackson Street in Dubuque, IA. The facility dates back to 1897 and has become inefficient for manufacturing and costly to maintain.
Directly linked with this decision, the Company recently announced plans to invest up to $25 million in North American manufacturing infrastructure during the next two fiscal years to address aging facilities and improve efficiency.
Flexsteel employs a total of 250 associates at the manufacturing facility, with 185 of those associates represented by the United Steelworkers (Local 1861), Teamsters (Local 120) and Operating Engineers (Local 234).
Karel Czanderna, President and CEO, commented, “We have identified several viable locations for manufacturing. With our corporate history and long-term commitment to the Dubuque community, the Company desires to remain in the Dubuque area. However, before finalizing a decision regarding location, we must ensure we can operate in a new facility while remaining competitive in the market.”
With a targeted exit date of December 2017, the Company today initiated discussions with the unions regarding closing the manufacturing facility and the prospect of entering into new agreements that would apply to a new facility should Dubuque be selected. In addition, the Company will continue to work with the appropriate government and community agencies in potential locations to determine the final location of its manufacturing operation.
CONTACT:
Flexsteel Industries, Inc., Dubuque, IA
Timothy E. Hall,
563-585-8392
Chief Financial Officer