UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 14, 2011
THERMADYNE HOLDINGS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware (State or Other Jurisdiction of Incorporation) |
001-13023 (Commission File Number) |
74-2482571 (I.R.S. Employer Identification No.) |
16052 Swingley Ridge Road, Suite 300 Chesterfield, Missouri (Address of Principal Executive Offices) |
63017 (Zip Code) |
(636) 728-3000
(Registrants telephone number, including area code)
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 (see General Instruction
A.2 below):
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 2.05.
Costs Associated with Exit or Disposal Activities
On September 14, 2011, Thermadyne Holdings Corporation (the Company) announced to its employees
that it will be closing its manufacturing operations located in Pulau Indah, Selangor, Malaysia.
The Company will be consolidating the Pulau Indah operations with its operations in its other
Malaysian facility in Rawang and in Ningbo, China. The Company expects to have substantially
completed its consolidation activities by December 31, 2011.
The Companys action is expected to eliminate approximately 50 positions and result in the
relocation of another eight employees to the Companys Rawang facility. The Company expects to
record pre-tax charges of approximately $0.5 million as a result of the facility closure and
consolidation of manufacturing operations, including up to $0.25 million for employee termination,
retention and relocation benefits and up to $0.25 million in other associated costs. The Company
expects to incur cash expenditures for substantially all of the charges through the remainder of
2011.
* * *
The statements in this Current Report that relate to future plans, events or performance are
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of
1995, including statements regarding our future prospects. These statements may be identified by
terms and phrases such as anticipate, believe, intend, estimate, expect, continue,
should, could, may, plan, project, predict, will and similar expressions that relate
to future events and occurrences. Actual results could differ materially due to a variety of
factors and the other risks described in this Current Report and the other documents we file from
time to time with the Securities and Exchange Commission. Factors that could cause actual results
to differ materially from those expressed or implied in such statements include, but are not
limited to, the following: (a) the impact of uncertain global economic conditions on our business
and those of our customers, (b) the cost and availability of raw materials, (c) operational and
financial developments and restrictions affecting our international sales and operations, (d) the
impact of currency fluctuations, exchange controls, and devaluations, (e) consolidation within our
customer base and the resulting increased concentration of our sales, (f) actions taken by our
competitors that affect our ability to retain our customers, (g) the effectiveness of our cost
reduction initiatives in our continuous improvement program, (h) our ability to meet customer needs
by introducing new and enhanced products, (i) our ability to adequately enforce or protect our
intellectual property rights, (j) the detrimental cash flow impact of increasing interest rates and
our ability to comply with financial covenants in our debt instruments, (k) disruptions in the
credit markets, (l) our relationships with our employees and our ability to retain and attract
qualified personnel, (m) liabilities arising from litigation, including product liability risks,
and (n) the costs of compliance with and liabilities arising under environmental laws and
regulations. Readers are cautioned not to place undue reliance on any forward-looking statements
contained herein, which speak only as of the date hereof and are not guarantees of performance or
results. We undertake no obligation to publicly release the result of any revisions to these
forward-looking statements that may be made to reflect events or circumstances after the date
hereof or that reflect the occurrence of unanticipated events. For a discussion of factors that may
affect future results see Risk Factors included in our Registration Statement on Form S-4
originally filed with the SEC on April 5, 2011.
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.
THERMADYNE HOLDINGS CORPORATION |
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Date: September 20, 2011 | By: | /s/ Steven A. Schumm | ||
Name: | Steven A. Schumm | |||
Title: | Chief Financial and Administrative Officer | |||
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