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): January 30, 2014
SYMMETRY MEDICAL INC.
(Exact name of Registrant as specified in its charter)
| Delaware | 001-32374 | 35-1996126 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
3724 N State Road 15, Warsaw, Indiana 46582
(Address of Principal executive offices, including Zip Code)
(574) 268-2252
(Registrant’s telephone number, including area code)
(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 January 30, 2014, Symmetry Medical Inc. (the “Company”) initiated a consultation process with its employees at its facility in Cheltenham, United Kingdom regarding a proposal to cease production at the facility in an effort to streamline the Company's footprint and improve its cost structure. The Cheltenham Plant is engaged primarily in the manufacture of medical instruments and employs approximately 40 people. Fiscal 2013 revenue at the Cheltenham plant was approximately $4 million USD, and the plant generated an operating loss for the Company.
Because the proposal is subject to consultation and discussion with the employees, the Company is unable to reasonably estimate the costs that it would expect to incur in connection with the proposed action or when the proposed action, if implemented, may be complete.
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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.
| Symmetry Medical Inc. | |
| /s/ Fred L. Hite | |
| Date: January 30, 2014 | Name: Fred L. Hite |
| Title: Chief Financial Officer |