-----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, PC9dXHuPQ+fMJ+KJLmY92DPqLQtjOXb8OurPkY1dVARvrXpnDAvuOnv0ir0M11Gu T+5u3FlwBjWS3DTXJbMC+A== 0000950152-01-001849.txt : 20010330 0000950152-01-001849.hdr.sgml : 20010330 ACCESSION NUMBER: 0000950152-01-001849 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010328 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENCORP INC CENTRAL INDEX KEY: 0000040888 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 340244000 STATE OF INCORPORATION: OH FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-01520 FILM NUMBER: 1584049 BUSINESS ADDRESS: STREET 1: HIGHWAY 50 & AEROJET ROAD CITY: ANCHO CORDOVA STATE: CA ZIP: 95670 BUSINESS PHONE: 9163554000 MAIL ADDRESS: STREET 1: HIGHWAY 50 & AEROJET ROAD CITY: ANCHO CORDOVA STATE: CA ZIP: 95670 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL TIRE & RUBBER CO DATE OF NAME CHANGE: 19840330 8-K 1 l87450ae8-k.txt GENCORP INC. FORM 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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) March 28, 2001 -------------- GenCorp Inc. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Ohio 1-01520 34-0244000 ---- ------- ---------- (State or Other Jurisdiction (Commission File IRS Employer of Incorporation) Number) Identification No.)
Highway 50 and Aerojet Road, Rancho Cordova, California 95670 - ------------------------------------------------------- ----- (Address of Principal Executive Offices) (Zip Code) P.O. Box 537012, Sacramento, California 95853-7012 - --------------------------------------- ---------- (Mailing Address) (Zip Code) Registrant's telephone number, including area code (916) 355-4000 -------------- 2 ITEM 5. OTHER EVENTS Attached hereto as Exhibit 99.1 and incorporated herein by this reference is the text of the registrant's press release which was issued on March 28, 2001. In a GenCorp Inc. press release dated March 28, 2001, GenCorp Inc. announced the Company's decision to implement a restructuring and consolidation of the GDX Automotive Business, presently estimated to cost between $18 million and $22 million. Implementation of the restructure will begin in the second quarter. The restructure includes the intended closure of the Company's Marion, Indiana and Ballina, Ireland manufacturing facilities. ITEM 7. EXHIBITS
Table Exhibit Item No. Exhibit Description Number -------- ------------------- ------ 99 GenCorp Inc.'s press release dated March 28, 2001 which announced 99.1 the Company's decision to implement a restructuring and consolidation of the GDX Automotive Business, presently estimated to cost between $18 million and $22 million. Implementation of the restructure will begin in the second quarter. The restructure includes the intended closure of the Company's Marion, Indiana and Ballina, Ireland manufacturing facilities.
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. GENCORP INC. By: /s/ William R. Phillips ----------------------- Name: William R. Phillips Title: Senior Vice President, Law, General Counsel and Secretary Dated: March 29, 2001 EX-99.1 2 l87450aex99-1.txt EXHIBIT 99.1 1 EXHIBIT 99.1 [GENCORP LOGO] Rosemary B. Younts Sr. VP, Communications (916) 351-8650 (916) 804-7820 NEWS RELEASE Timothy Murphy Director, Communications (765) 668-0415 FOR IMMEDIATE RELEASE GENCORP ANNOUNCES MAJOR RESTRUCTURING OF GDX AUTOMOTIVE SEGMENT SACRAMENTO, CALIFORNIA, March 28, 2001 - GenCorp (NYSE: GY) today announced that it will implement a restructuring and consolidation of its GDX Automotive business, estimated to cost between $18 million and $22 million. Implementation of the restructuring will begin in the second quarter. The restructuring includes the intended closure of GDX Automotive's Marion, Indiana and Ballina, Ireland manufacturing facilities. "The intended plant closures are a difficult, but necessary, business decision made by the Company to address excess capacity issues and the continued deterioration of performance and losses at these facilities," said Joseph Gray, President of GDX Automotive. "We will work closely with our employees, their unions, communities and customers in an effort to facilitate a transition process that is as smooth as possible in the coming weeks and months," he said. The Marion facility produces vehicle sealing components for major auto makers that include Ford, General Motors and Mercedes. Ongoing quality and delivery problems at the plant for over three years have resulted in significant financial losses in excess of $15 million dollars, and more recently, have led to the loss of major business contracts. The Marion plant employs about 600 people and is represented by the United Steelworkers of America. The Company will be initiating talks with the Union immediately and is in the process of issuing WARN notifications. The transition process at Marion is expected to occur in phases over the next twelve months beginning in June. Remaining programs at the facility will be relocated to other GDX Automotive facilities that have yet to be determined. 2 The GDX Automotive plant in Ballina manufactures vibration control components and rubber molded products for customers that include Opel, Volkswagen, Audi and BMW, and employs approximately 160 people, represented by the Scientific, Industrial, Professional and Technical Union (SIPTU). In addition to excess capacity issues, increased difficulty in retaining plant personnel in light of record employment levels in the region, and the strength of the Irish Punt versus other currencies have been key factors in the performance declines experienced at the Ballina facility. Over the next six months, the Company expects to transfer work at Ballina to its Rehburg, Germany facility, and has been in discussions for some time now with Union officials regarding the transition. GDX Automotive is the number two supplier of automotive vehicle seals in the world, after completing the acquisition of the Laird Group's Draftex International Car Body Seals Division this past December. GDX Automotive has 19 facilities in North America and Europe, and nearly 10,000 employees worldwide. Parent Company, GenCorp, is a technology-based manufacturer with leading positions that in addition to automotive include the aerospace and defense and pharmaceutical fine chemicals industries. For more information, the Company's Web site is located at www.GenCorp.com. -----END PRIVACY-ENHANCED MESSAGE-----