-----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, VseakHzKKyqHkzDmItY8WcsDMhUgLgnYCrsssDZT1qIDQg0KKqZxzW+VBT+Z/YfW xK8NHP8YTcI4yIOI2y2C9g== 0001104659-06-023073.txt : 20060406 0001104659-06-023073.hdr.sgml : 20060406 20060406163136 ACCESSION NUMBER: 0001104659-06-023073 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20060406 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060406 DATE AS OF CHANGE: 20060406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SCHMITT INDUSTRIES INC CENTRAL INDEX KEY: 0000922612 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 931151989 STATE OF INCORPORATION: OR FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23996 FILM NUMBER: 06745464 BUSINESS ADDRESS: STREET 1: 2765 NW NICOLAI ST CITY: PORTLAND STATE: OR ZIP: 97210 BUSINESS PHONE: 5032277908 MAIL ADDRESS: STREET 1: 2765 NW NICOLAI ST CITY: PORTLAND STATE: OR ZIP: 97210 8-K 1 a06-8555_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

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):   April 6, 2006

 

SCHMITT INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

 

Oregon

 

0-23996

 

93-1151989

(State or other jurisdiction

 

(Commission

 

(I.R.S. Employer

of incorporation)

 

File Number)

 

Identification No.)

 

 

 

 

 

 

 

 

 

 

2765 N.W. Nicolai Street

 

 

Portland, Oregon

 

97210

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:   (503) 227-7908

 

Not Applicable

Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

 

In a press release dated April 6, 2006, Schmitt Industries, Inc. (the “Company”) announced the appointment of David M. Hudson to the Company’s effective April 3, 2006 and Michael J. Ellsworth to the Company’s Board of Directors effective April 4, 2006. Mr. Hudson will serve on the Company’s audit and nominating committees and Mr. Ellsworth will serve on the Company’s compensation committee.

 

That press release also announced the resignation of Trevor Nelson, Director, as of April 3, 2006.

 

The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. On April 6, 2006, Schmitt Industries, Inc. issued a press release entitled “Schmitt Strengthens Board with Two New Directors.”  A copy of the press release is furnished as Exhibit 99.1 to this report.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1 Press release entitled “Schmitt Strengthens Board with Two New Directors,” dated April 6, 2006.

 

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.

 

 

 

  SCHMITT INDUSTRIES, INC.

 

 

 

April 6, 2006

By:

/s/ Wayne A. Case

 

 

 

 

 

 

Name: Wayne A. Case

 

 

Title: President and CEO

 

3


EX-99.1 2 a06-8555_1ex99d1.htm EXHIBIT 99

Exhibit 99.1

 

 

IMMEDIATE NEWS RELEASE

 

Schmitt Strengthens Board with Two New Directors

 

April 6, 2006

NASDAQ:     SMIT

 

Portland, Oregon – Schmitt Industries, Inc. is pleased to announce the appointment of Michael J. Ellsworth and David M. Hudson to the Board of Directors effective immediately.

 

Mr. Ellsworth has a variety of business experiences in the semiconductor industry that will assist Schmitt in the future, and he currently is self employed as a consultant to the semiconductor industry through his firm Kinetic Technologies Inc. Mr. Ellsworth holds a BS in Engineering Science, Cum Laude, University of Portland, 1965;  an MS in Mechanical Engineering, Northwestern University, 1969 and MBA from University of Portland, 1979. He also attended the Stanford Executive Institute, 1983 and the Mahler Institute, 1987.

 

Mr. Ellsworth served as Chief Operating Officer and Advisor to the Board for ADE Corporation, (ADEX), Westwood, Massachusetts from 1993-1997. ADE is a $100 million annual sales semiconductor metrology and instrumentation company. After retirement from active management in 1997 he continued to serve as a Vice President and an advisor to the Board until 2001.

 

Mr. Ellsworth served as President, CEO and Director of Electro Scientific Industries, (ESIO), from 1987-1992. Electro Scientific Industries is a $200 million annual sales microelectronics and semiconductor capital equipment corporation with market leadership in providing laser based equipment to control the manufacturing process and end product quality.

 

Mr. Hudson previously served on the Board of Directors of Schmitt from 1996 to 2003, at which time he moved to New York where he started Gemini Value Partners LLC, a private investment fund. Mr. Hudson was the founder and President of Hudson Capital Management, formed from a group of seven mutual funds, and through merger became the Crabbe Hudson Group of Funds, in 1992. He was also the co-founder of Coldstream Capital Management, Inc.  His founder’s interest was sold to publicly traded Boston Private Financial Holdings (BPFH) in 2003.

 

Mr. Hudson holds a B.S. degree in Mathematics from the University of Oregon where he also pursued postgraduate studies in Economics.

 

Mr. Hudson replaces Mr. Trevor Nelson who has resigned from the Board to develop other personal business ventures. We thank Mr. Nelson for his excellent service to the shareholders over the past ten years.

 

Wayne Case, Schmitt President said: “We are pleased to be adding two well qualified persons to the Board of Directors of Schmitt Industries. We believe these changes will strengthen the resources available to the Board and assist us in increasing overall shareholder value. Mr. Hudson is experienced in financial matters and brings a wealth of experience to the Board in funding, mergers and acquisitions. Mr. Ellsworth is well known in the semiconductor markets and can greatly assist the company in those growing markets. We believe both new Directors will bring strong contributions to the future plans of Schmitt.”

 

 

CORPORATE OFFICE: 2765 NW NICOLAI ST. • PORTLAND, OREGON 97210 • 503/227-7908 • FAX 503/223-1258

 


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-----END PRIVACY-ENHANCED MESSAGE-----