-----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, UHRON2AUiyEnFo4AEE6FftF5we2EmUGPWXFvglkS2Pbmx4sdR4WMDVadoVSwPFeb KFoNVR5VXz6NgW8TpYQsvg== 0000760775-98-000014.txt : 19980130 0000760775-98-000014.hdr.sgml : 19980130 ACCESSION NUMBER: 0000760775-98-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980127 ITEM INFORMATION: FILED AS OF DATE: 19980129 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: WLR FOODS INC CENTRAL INDEX KEY: 0000760775 STANDARD INDUSTRIAL CLASSIFICATION: POULTRY SLAUGHTERING AND PROCESSING [2015] IRS NUMBER: 541295923 STATE OF INCORPORATION: VA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-17060 FILM NUMBER: 98516832 BUSINESS ADDRESS: STREET 1: P O BOX 7000 CITY: BROADWAY STATE: VA ZIP: 22815 BUSINESS PHONE: 5408967001 MAIL ADDRESS: STREET 1: 800 CO OP DRIVE CITY: TIMBERVILLE STATE: VA ZIP: 22853 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE ROCKINGHAM INC DATE OF NAME CHANGE: 19881114 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE INC DATE OF NAME CHANGE: 19880209 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15d of the Securities and Exchange Act of 1934 --------------------------- Date of Report (Date of earliest event reported) January 27, 1998 WLR Foods, Inc. (Exact name of registrant as specified in its charter) Virginia 0-17060 54-1295923 (State of (Commission File (IRS Employer Iden- Incorporation) Number) tification No.) P.O. Box 7000 22815 Broadway, Virginia (Zip Code) (Address of Principal executive offices) (540) 896-7001 (Registrant's telephone number, including area code) Item 5. Other Events On January 27, 1998, WLR Foods, Inc. issued the following press release. FOR IMMEDIATE RELEASE Investor Contact: Robert Ritter Chief Financial Officer 540-896-7001 Media Contact: Gail Price, Director of Corporate Communication 704-624-2171 540-896-0406 WLR FOODS ANNOUNCES MARSHVILLE PLANT CONVERSION Broadway, Virginia, January 27, 1998. WLR Foods, Inc. (NASDAQ:WLRF) today announced plans to convert its Marshville, North Carolina turkey complex to chicken production by the late fall of 1998. By late spring 1999, the Marshville plant is scheduled to process 650,000 chickens per week in a two-shift operation. In making the announcement, WLR Foods President and Chief Executive Officer James L. Keeler stated, "Our chicken and Cassco Ice operations are doing well but we've experienced losses in turkey for almost two years. While poor financial performance has been driven considerably by high feed costs, industry-wide turkey over-supply combined with poor demand has resulted in historic low prices for commodity turkey products. This has been the principal factor in our performing below market expectations and continues as the primary barrier to returning our turkey business to profitability. By decreasing turkey production, we can reduce our sales of non-profitable commodity products while, at the same time, ensuring that we can meet the needs of our foodservice and retail customers." Equipment refitting and construction at the Marshville complex are scheduled to be accomplished while turkey processing continues at the plant. The plant will make its conversion providing on-the-job training for new responsibilities with present complex employees. Mr. Keeler added: "We chose to convert Marshville because our operating costs are non-competitive due to low production volumes. Even though we ve made considerable progress in our North Carolina turkey growout operation, it would be some time before we would feel comfortable with adding more turkey growers and more turkeys in that geographical area. But just as important, this conversion will permit us to increase chicken volume by 650,000 head per week at costs considerably below those necessary to increase capacity at any of our other four chicken complexes." Mr. Keeler continued: "Before we begin the plant conversion, we will need commitments from Marshville producers with approximately 75% of our current turkey production to convert their facilities to chicken. We currently anticipate that turkeys raised by those producers who elect not to convert will be processed in our Virginia turkey plants until our contracts with these producers expire which, for most, will be in 2000." 1 As remaining North Carolina-raised turkey flocks are transported north after the fall conversion, the company will achieve more cost- effective utilization of its two Virginia turkey processing plants. The Monroe, North Carolina turkey further processing plant will continue to operate as usual. Increased bird size in Virginia will supply the turkey requirements of Wampler Foods further processing plants in both Monroe and Franconia, Pennsylvania. WLR Foods intends to invest approximately $11 million in modifications to support this conversion. The conversion plans allow for a doubling of production with the addition of a second production line when market conditions permit. WLR Foods is a fully integrated provider of high quality turkey and chicken products primarily under the Wampler Foods(R) label and retail ice under the Cassco(R) label. With annual sales of $1 billion, it is nationally ranked as the seventh largest poultry processor by sales volume and is an international leader in poultry exports. WLR Foods has processing operations in Virginia, North Carolina, West Virginia, and Pennsylvania, close to its major mid-Atlantic markets. 2 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. WLR Foods, Inc. By:______/s/Robert T. Ritter______ Robert T. Ritter Vice President, Secretary, Treasurer and Chief Executive Officer 3 -----END PRIVACY-ENHANCED MESSAGE-----