-----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, NVjmeWvl3VImBLennJQWaKBg0PJxP2IjIicGaxhP9hcU3c1WE1dv58+Uklw10ShK bPUxx6v1tiu3iQaQKs86Ow== 0000849869-03-000025.txt : 20030814 0000849869-03-000025.hdr.sgml : 20030814 20030814095626 ACCESSION NUMBER: 0000849869-03-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030813 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SILGAN HOLDINGS INC CENTRAL INDEX KEY: 0000849869 STANDARD INDUSTRIAL CLASSIFICATION: METAL CANS [3411] IRS NUMBER: 061269834 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22117 FILM NUMBER: 03843710 BUSINESS ADDRESS: STREET 1: 4 LANDMARK SQ CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2039757110 8-K 1 eightkplantclose.txt PRESS RELEASE FOR PLANT CLOSING UNITED STATES 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): August 13, 2003 SILGAN HOLDINGS INC. - ------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware 000-22117 06-1269834 - ------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 4 Landmark Square, Stamford, Connecticut 06901 - ------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (203) 975-7110 N/A - ------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits Exhibit No. Description - ----------- ----------- 99.1 Press Release dated August 13, 2003 regarding a plant closing and related revision to third quarter and full year 2003 earnings estimates for related rationalization charges. Item 9. Regulation FD Disclosure. On August 13, 2003, the registrant issued a press release regarding a plant closing and related revision to its third quarter and full year 2003 earnings estimates for related rationalization charges. A copy of this press release is furnished pursuant to Item 9 and attached hereto as Exhibit 99.1. 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. SILGAN HOLDINGS INC. By: /s/ Anthony J. Allott -------------------------------------- Anthony J. Allott Executive Vice President and Chief Financial Officer Date: August 14, 2003 3 INDEX TO EXHIBITS Exhibit No. Description ----------- ----------- 99.1 Press Release dated August 13, 2003 regarding a plant closing and related revision to third quarter and full year 2003 earnings estimates for related rationalization charges. 4 EX-99.1 3 prjennings.txt PRESS RELEASE FOR PLANT CLOSING EXHIBIT 99.1 News For Immediate Release SILGAN HOLDINGS INC. 4 Landmark Square Suite 400 Stamford, CT 06901 Telephone: (203) 975-7110 Fax: (203) 975-7902 Contact: Anthony J. Allott (203) 406-3160 SILGAN HOLDINGS ANNOUNCES A PLANT CLOSING; REVISES OUTLOOK FOR RELATED RATIONALIZATION CHARGES STAMFORD, CT, August 13, 2003 -- Silgan Holdings Inc. (Nasdaq:SLGN) today announced the closing of its plastic convenience end plant in Norwalk, Connecticut. This action was precipitated by a mutual determination by the Company and the location's primary customer that a long-term product development effort should be discontinued due to difficult economics both in manufacturing the product and, more recently, in the customer's operation. The customer will be shifting to an existing alternative end product supplied from another Silgan location. This action will be accretive to earnings starting in 2004, as the Company will be able to eliminate the higher production costs in Norwalk and absorb the alternative demand with existing capacity. As a result of this decision, the Company will record a non-cash write-down in the carrying value of assets of approximately $5.2 million in the third quarter of 2003. Additionally, cash severance and related plant exit costs of approximately $1.5 million will be recognized primarily during the third quarter. As a direct result of the asset write-down and rationalization charge associated with this closing, the Company is adjusting its estimates for the third quarter and full year of 2003 by $0.23 per share, to a range of $1.32 to $1.52 in the third quarter and $2.62 to $2.92 for the year. * * * (more) SILGAN HOLDINGS August 13, 2003 Page 2 Silgan Holdings is a leading North American manufacturer of consumer goods packaging products with annual sales of approximately $2.0 billion in 2002. Silgan operates 68 manufacturing facilities in the U.S., Canada and Mexico. In North America, Silgan is the largest supplier of metal containers for food products and a leading supplier of plastic containers for personal care products and of metal and plastic closures for food and beverage products. Statements included in this press release which are not historical facts are forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Such forward looking statements are made based upon management's expectations and beliefs concerning future events impacting the Company and therefore involve a number of uncertainties and risks, including, but not limited to, those described in the Company's Annual Report on Form 10-K for 2002 and other filings with the Securities and Exchange Commission. Therefore, the actual results of operations or financial condition of the Company could differ materially from those expressed or implied in such forward looking statements. * * * -----END PRIVACY-ENHANCED MESSAGE-----