-----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, MZurj00m2wDtkfEtl1xjFAMgICra4I2K8oX21lWtKFDIuyI6yyOilcuKpjuY4MhP eXJxd8tyUwUGoaviZekv5Q== 0000054381-99-000017.txt : 19991222 0000054381-99-000017.hdr.sgml : 19991222 ACCESSION NUMBER: 0000054381-99-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991221 ITEM INFORMATION: FILED AS OF DATE: 19991221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KAMAN CORP CENTRAL INDEX KEY: 0000054381 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MACHINERY, EQUIPMENT & SUPPLIES [5080] IRS NUMBER: 060613548 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-66179 FILM NUMBER: 99778264 BUSINESS ADDRESS: STREET 1: 1332 BLUE HILLS AVE CITY: BLOOMFIELD STATE: CT ZIP: 06002 BUSINESS PHONE: 8602437100 MAIL ADDRESS: STREET 1: 1332 BLUE HILLS AVE CITY: BLOOMFIELD STATE: CT ZIP: 06002 FORMER COMPANY: FORMER CONFORMED NAME: KAMAN AIRCRAFT CORP DATE OF NAME CHANGE: 19680403 8-K 1 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 21, 1999 KAMAN CORPORATION (Exact name of issuer as specified in its charter) Connecticut 0-1093 06-0613548 (State of (Commission (I.R.S. 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 has announced that its industrial distribution subsidiary, Kaman Industrial Technologies Corporation, is undertaking initiatives to streamline its operational structure and increase efficiency, with the objective of enhancing its competitive position. As a result, the Company will take pre-tax charges of approximately $12 million, or 32 cents per share, in the fourth quarter of 1999. Approximately $4 million of the charge represents costs associated with reorganization of operations, consolidation of branches and closure of certain other facilities. Approximately $8 million represents a write-off of inventory that is considered obsolete or excess to the ongoing organization. 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 December 21, 1999. 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 By: Robert M. Garneau Executive Vice President and Chief Financial Officer Dated: December 21, 1999 EXHIBIT INDEX Exhibit Description 99 Press Release of the Company, dated December 21, 1999. EX-99 2 KAMAN ANNOUNCES CHANGES TO ITS INDUSTRIAL DISTRIBUTION UNIT; TO TAKE $12 MILLION CHARGE BLOOMFIELD, Connecticut (December 21, 1999) (NASDAQ:KAMNA) Kaman Corp. today announced that its industrial distribution subsidiary, Kaman Industrial Technologies Corp., is undertaking initiatives to streamline its operational structure and increase efficiency. As a result, the company will take pre-tax charges of approximately $12 million, or 32 cents per share, in the fourth quarter of 1999. Paul R. Kuhn, president and chief executive officer, said, "These actions address the challenges presented by increased consolidation and competition in KIT's marketplace. These steps," he said, "include a reorganization of the operation's sales, marketing and field management structure, a consolidation of certain branch locations, and a recently concluded comprehensive review of existing inventories. "Our overall objective," said Kuhn, "is to enhance the company's competitive position by flattening the organizational and operational structure, reducing costs and improving customer service at all levels. There are opportunities for this business to grow as we get closer to our customers in every way." Approximately $4 million of the charge represents costs associated with the reorganization of operations, consolidation of branches and closure of certain other facilities. Approximately $8 million represents a write-off of inventory that is considered obsolete or excess to the ongoing organization. Kaman Corp., is a $1 billion company with businesses in the aerospace, industrial and music markets. Kaman Industrial Technologies, based in Windsor, Conn., is a major industrial distribution company with more than 180 locations throughout North America providing products and services to all types of industry. ### Contact: J. Kenneth Nasshan (860) 243-7319 Email: jkn-corp@kaman.com Internet address: http://www.kaman.com -----END PRIVACY-ENHANCED MESSAGE-----