8-K 1 form8k.txt MOOSUP PHASE OUT 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): June 14, 2002 KAMAN CORPORATION (Exact name of issuer as specified in its charter) Connecticut 0-1093 06-0613548 (State or other jurisdictions (Commission (I.R.S. of Incorporation) File Number) Employer Identification No.) 1332 Blue Hills Avenue Bloomfield, CT 06002 (Address of principal executive offices) Registrant's telephone number, including area code: (860)243-7100 Not Applicable (Former name or former address, if changed since last report) Item 5. Other Events The Company issued a press release dated June 14, 2002 announcing that it will phase out operations at Kaman Aerospace's Moosup Connecticut manufacturing plant over the next 12 - 18 months. The facility is expected to be closed by the end of 2003. About 300 positions in Moosup will be eliminated, the majority of which will occur in 2003. Work currently performed in Moosup and the majority of Moosup positions will be relocated to other Kaman facilities and employees whose jobs are being relocated will be considered for employment at the other Kaman facilities. The Company also announced that non-Moosup workforce reductions of about 90 employees are planned over the next six months and these reductions are the result of changing business conditions, primarily a decline in prime helicopter contracts. The Company stated that the financial impact of the Moosup plant phase out is currently being determined. The Company is also in the process of reviewing its helicopter programs and expects to record material adjustments in the second quarter from these programs. The details of all these adjustments, a significant portion of which are anticipated to be non cash, are expected to be finally determined by the time of the announcement of the Company's second quarter results. Item 7. Financial Statements and Exhibits (a) Financial Statements of Business Acquired. Not Applicable. (b) Pro Forma Financial Information. Not Applicable. (c) Exhibits. The following document is filed as an Exhibit to this Report: Exhibit 99 - Press Release of the Company, dated June 14, 2002. Page 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, thereunto duly authorized. KAMAN CORPORATION /s/Robert M. Garneau Executive Vice President and Chief Financial Officer Dated: June 17, 2002 Page 3 EXHIBIT INDEX Exhibit Description 99 Press Release of the Company, dated June 14, 2002 Page 4