-----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, AMaZSMTL+eFgTUV1VaNt8dyZE4aMnf3ZMnmyCAT36VyPZ34e6vhuKko4Fbbv79iT qIaXz9GnsD3SILLMBtGBAw== 0000905729-01-500224.txt : 20020412 0000905729-01-500224.hdr.sgml : 20020412 ACCESSION NUMBER: 0000905729-01-500224 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011203 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20011203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HASTINGS MANUFACTURING CO CENTRAL INDEX KEY: 0000046109 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 380633740 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03574 FILM NUMBER: 1804669 BUSINESS ADDRESS: STREET 1: 325 N HANOVER ST CITY: HASTINGS STATE: MI ZIP: 49058 BUSINESS PHONE: 6169452491 MAIL ADDRESS: STREET 1: 325 NORTH HANOVER STREET STREET 2: 325 NORTH HANOVER STREET CITY: HASTINGS STATE: MI ZIP: 49058 8-K 1 hast8k120301.htm FORM 8-K Hastings Manufacturing Company Form 8-K 12-03-01




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): December 3, 2001



HASTINGS MANUFACTURING COMPANY
(Exact Name of Registrant as Specified in Charter)



Michigan
(State or Other Jurisdic-
tion of Incorporation)

1-3574
(Commission
File Number)

38-0633740
(IRS Employer
Identification No.)

     
     

325 North Hanover Street
Hastings, Michigan

(Address of Principal Executive Offices)

 


49058
(Zip Code)

(616) 945-2491
(Registrant's Telephone Number, Including Area Code)










Item 7.                    Financial Statements and Exhibits.

                                The following document is filed as an exhibit to this report on Form 8-K:


          99.1              Press Release of Hastings Manufacturing Company dated December 3, 2001.


Item 9.                    Regulation FD Disclosure.

                              On December 3, 2001, Hastings Manufacturing Company issued the press release attached to this Form 8-K as Exhibit 99.1. This report and the exhibit are furnished, not filed.




























- -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.


Dated: December 3, 2001

HASTINGS MANUFACTURING COMPANY

   
   
   
 

By: /s/ Thomas J. Bellgraph


 

     Thomas J. Bellgraph
     Vice President of Corporate Administration




























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EXHIBIT INDEX

Exhibit Number                    Document

          99.1                    Press Release of Hastings Manufacturing Company dated December 3, 2001.

EX-99 3 hastex99120301.htm EXHIBIT 99.1 Hastings Exhibit 99.1 to Form 8-K - 12-03-01

EXHIBIT 99.1

FOR IMMEDIATE RELEASE
CONTACT: Thomas J. Bellgraph, Vice President
Hastings Manufacturing Company -- (616) 945-2491
or
Brian Edwards, Mary Ann Sabo (mail@lambert-edwards.com)
Lambert, Edwards & Associates -- (616) 233-0500

Hastings Manufacturing Announces Strategic Realignment
Company creates business units to accelerate its growth as a global engine-components supplier

HASTINGS, Mich., Dec. 3, 2001 -- Hastings Manufacturing Co. (AMEX: HMF) today announced a strategic realignment aimed at accelerating its growth as a global supplier of automotive engine components.

The Hastings, Mich.-based manufacturer and marketer of piston rings and other engine parts said it would split its Michigan operations into two business units: the Global Automotive Aftermarket unit and Piston Ring Operations. Each unit will be responsible for increasing global sales and market share.

In line with the reorganization, the Hastings Manufacturing board of directors appointed Mark R.S. Johnson as chairman and chief executive officer and named Andrew F. Johnson as president. Both had served as co-CEOs and presidents since 1995. Mark Johnson had served as President-Marketing, and Andrew Johnson had served as President-Operations.

The Company also expanded the responsibilities of Thomas J. Bellgraph, who had served as Vice President, Finance. Bellgraph has been appointed Vice President of Corporate Administration, with responsibility for finance, administration, human resources and information services.

"The primary goal of this realignment is to better serve our customers through a focused, entrepreneurial approach that meets their specific needs," Mark Johnson said. "Having separately defined and carefully executed strategies for each business unit will ensure that we are able to deliver the levels of quality and service that our aftermarket and OEM customers demand."

Hastings Manufacturing Co. said the Global Automotive Aftermarket unit will build the Company's worldwide presence as a marketer and distributor of engine-related products. The unit intends to form marketing-and-distribution alliances with engine-component manufacturers to expand the range of products it can offer to customers worldwide. The Company currently sells high-quality internal engine components, including Hastings® piston rings, Zollner® pistons and ACL® engine components. Jeffrey P. Guenther, a longtime marketing executive at Hastings Manufacturing, will serve as vice president and director of the Global Automotive Aftermarket business unit.

"Jeff and his team have a focused task: To build their business unit into a single-source supplier where parts warehouses, professional engine rebuilders and specialty retailers can find the key, complementary internal-engine components they need," Mark Johnson said.

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HASTINGS/page 2

The Piston Ring Operation will be focused on developing, manufacturing and distributing the world's largest selection of high-quality piston rings. In addition to providing piston rings to the Company's aftermarket unit, the unit will target increased sales to original equipment manufaturers, as well as other manufacturers that serve the aftermarket. Stephen G. Uhen, a veteran executive at the Company, has been tapped to serve as vice president and director of the Piston Ring Operations unit.

"Steve and his team will be focused on maximizing the brand equity and expertise we have developed in the piston ring arena over the past 78 years," Andrew Johnson said. "The business unit structure will position us to increase our penetration among OEMs, while continuing to serve as the leading innovator and manufacturer in the piston ring niche."

The establishment of new business units follows a three-year business improvement effort that included a shift to lean manufacturing and an expansion of the Company's product offerings as well as its sales, marketing and distribution capabilities. Hastings Manufacturing began the transition to lean manufacturing in 1998, and has been able to improve its quality levels, reduce scrap and increase order-fill rates over the past three years.

Hastings has also expanded its sales, marketing and distribution capabilities over the past few years. In 1999, the Company's Canadian subsidiary created a Distribution, Administration and Sales (DAS) program to sell engine components -- including piston rings, pistons, valves, camshafts and other related parts -- to the Canadian aftermarket. Over the past 18 months, Hastings also formed alliances to market and distribute Zollner pistons, ACL engine parts and Casite engine additives to the aftermarket.

"The success of our operating initiatives over the past few years has put us in a strong position for growth at what we believe is an opportune time," Andrew Johnson said. "We anticipate growth in the engine segment of the replacement-parts market over the next few years, as sales of new vehicles slow and the number of aging cars on the road increases. This realignment of responsibilities and the creation of a business-unit structure should position us to leverage our strengths in manufacturing, sales, marketing and distribution as a driving force for Hastings Manufacturing in the future."

Hastings Manufacturing Co. serves the automotive parts market with a complete line of internal engine components including piston rings sold under the HASTINGS® brand name; pistons sold under the Zollner® brand; and gaskets, import pistons, engine bearings and a variety of other engine components sold under the ACL® brand. Hastings also markets engine additives sold under the CASITE™ brand through The Casite Company, a joint venture that markets both directly and through independent representatives. Canadian distribution of all products is handled through a wholly owned subsidiary, Hastings, Inc. located in Barrie, Ontario. During 1999, Hastings began to distribute and administer products for other U.S.-based suppliers in the Canadian market. These products complement the current piston ring offerings as to both distribution channels and customer base.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities laws. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially, including but not limited to economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services and prices.

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