-----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, QAW1pJXBw4p93DlQCb57x9/2JsPzKZoHVtXt5Z6r1WHgXRJuTUtMoPIh6w2XJh6R ehBEokzWeNRQKgL8Vvc5gw== 0000906318-07-000008.txt : 20070131 0000906318-07-000008.hdr.sgml : 20070131 20070131143006 ACCESSION NUMBER: 0000906318-07-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070131 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070131 DATE AS OF CHANGE: 20070131 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANDARD REGISTER CO CENTRAL INDEX KEY: 0000093456 STANDARD INDUSTRIAL CLASSIFICATION: MANIFOLD BUSINESS FORMS [2761] IRS NUMBER: 310455440 STATE OF INCORPORATION: OH FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11699 FILM NUMBER: 07567605 BUSINESS ADDRESS: STREET 1: 600 ALBANY ST CITY: DAYTON STATE: OH ZIP: 45401 BUSINESS PHONE: 5134341000 MAIL ADDRESS: STREET 1: 600 ALBANY STREET STREET 2: P O BOX 1167 CITY: DAYTON STATE: OH ZIP: 45401-1167 8-K 1 form8k.htm FORM 8-K .



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:  January 26, 2007

(Date of earliest event reported)



THE STANDARD REGISTER COMPANY

(Exact name of Registrant as specified in its Charter)



Ohio

(State or other jurisdiction of incorporation)

1-1097

(Commission File No.)

31-0455440

(IRS Employer Identification Number)




600 Albany Street, Dayton, Ohio  

45408

(Address of principal executive offices)

(Zip Code)



Registrant’s telephone number, including area code: (937) 221-1000


N/A

(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:

[  ]

Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425)

[  ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR240.14a-12)

[  ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b))

[  ]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c))







Item 2.05. Costs Associated with Exit or Disposal Activities

Standard Register (NYSE:SR) is taking steps to align its supply chain with market opportunities and customer needs.  The company plans to organize and consolidate  its manufacturing and distribution capabilities to become more efficient in meeting customer needs.  Therefore, on January 25, 2007, the company adopted a restructuring plan to accomplish these objectives.  The actions associated with the plan are expected to be completed in the current year.  At this time, the company is unable to provide a good faith estimate of total costs of the restructuring plan, but will amend this filing as such costs are determined.

In connection with this plan, on January 26, 2007, the company announced that it will close its facility in Middlebury, Vt. and transfer equipment and production operations to three other Standard Register plants in the U.S.  The Middlebury plant, which employs about 112 people, will continue to perform limited production through May 2007.  The facility has been in operation since 1965 and produces business forms.  The company expects to record approximately $5 million of restructuring costs related to the closing of the Middlebury plant including $2 million for employee related costs and $3 million of other associated exit costs, primarily equipment removal and relocation.  These are all cash expenditures.

In conjunction with the Middlebury plant closing, the company may record a non-cash impairment charge.  At this time, the company has not completed its impairment analysis; however, if an impairment charge is required, the company does not expect it to exceed $2 million.  The company projects estimated savings resulting from the plant closure in the range of $4-$5 million on an annualized basis.

Safe Harbor Statement

This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995.  Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2007 and beyond could differ materially from the company’s current expectations.  Forward-looking statements are identified by words such as “anticipates,” “projects,” “expects,” “plans,” “intends,” “believes,” “estimates,” “targets,” and other similar expressions that indicate trends and future events.


Factors that could cause the company’s results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the company’s products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the company’s control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the company’s success in attracting and retaining key personnel.  Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the company’s filing with The Securities and Exchange Commission, including its report on Form 10-K for the year ended January 1, 2006.  Except as required by law or applicable regul ations, the company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.


9.01 Financial Statements and Exhibits.

(c)

Exhibits

Exhibit No.

Description

99.1

Press Release dated January 26, 2007




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 hereunto duly authorized.



REGISTRANT

THE STANDARD REGISTER COMPANY

  
  

Date:  January 31, 2007

/s/ Kathryn A. Lamme

 

By:

Kathryn A. Lamme

Senior Vice President, General Counsel

& Secretary





 EX-99 2 ex991.htm EXHIBIT 99.1 .



Exhibit 99.1


Standard Register



600 Albany St.  ·  Dayton, OH   45408

NEWS RELEASE

937.221.1000  ·  937.221.1486 (fax)

 

www.standardregister.com

 
  

News media contact:

Investor contact:

Lesley Sprigg  ·  937.221.1825

Robert J. Cestelli  ·  937.221.1304

lesley.sprigg@standardregister.com

robert.cestelli@standardregister.com



For Immediate Release


Standard Register to Close Middlebury, Vt. Plant


DAYTON, Ohio (January 26, 2006) – Standard Register (NYSE:SR) is taking steps to align its supply chain with market opportunities and customer needs.  Through careful study of product mix, capacity, geographic coverage and growth projections, the company determined that a realignment and consolidation of its current assets will allow Standard Register to be more responsive in meeting customer needs.  


As part of this effort, the company announced today that it will close its facility in Middlebury, Vt. and transfer equipment and production operations to three other Standard Register plants in the U.S.  This redistribution of manufacturing assets will move production closer to customers’ locations and increase the company’s ability to serve their needs.  


The Middlebury plant, which employs about 112 people, will continue to perform limited production through March 2007.  The facility has been in operation since 1965 and produces business forms. 


Standard Register is providing all affected associates with severance and job-finding assistance to help them transition to other jobs.  Most associates will have the opportunity to apply for open positions at other Standard Register facilities, with relocation assistance.


The company is moving equipment from the Middlebury plant to its Murfreesboro, Tenn., York, Pa. and Fayetteville, Ark. facilities.  It operates 34 printing facilities and 22 warehouses in the U.S., as well as one document services facility in Mexico.


Standard Register is focused on opportunities to drive profitable growth to create superior value for associates, customers, shareholders and communities for the long term.        

ABOUT STANDARD REGISTER

Standard Register is a premier document services provider, trusted by companies to manage the critical documents they need to thrive in today’s competitive climate.  Relying on nearly a century of industry expertise, Lean Six Sigma methodologies and leading technologies, the company helps organizations increase efficiency, reduce costs, mitigate risks, grow revenue and meet the challenges of a changing business landscape.  It offers document and label solutions, technology, consulting, and print supply chain services to help clients manage documents throughout their enterprises.  More information is available at www.standardregister.com.

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