- Current report filing (8-K)
October 29 2008 - 1:29PM
Edgar (US Regulatory)
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)
October 29, 2008 (October 29, 2008)
Baldwin
Technology Company, Inc.
|
(Exact
Name of Registrant as Specified in Its Charter)
|
Delaware
|
(State or Other Jurisdiction of Incorporation)
|
1-9334
|
13-3258160
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
Two Trap Falls Road, Suite 402, Shelton, CT
|
06484
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
203-402-1000
|
(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)
:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
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 October 29, 2008, Baldwin Technology Company, Inc. (the “Company”)
committed to the principal features of a plan (the “Plan”) to realign
some of its existing operations. The objective of the Plan is to achieve
operational efficiencies in Germany by reducing costs to better position
the Company in the current competitive marketplace. Actions under the
Plan commenced during October 2008 and have been completed.
The costs associated with the Plan will be charged to the Company’s
results of operations during the second quarter of Fiscal 2009 and
consist entirely of employee personnel costs. The Company expects to
incur costs of approximately $681,000, anticipated to be paid in cash
primarily during Fiscal 2009. No non-cash charges are contemplated in
connection with the Plan.
The Company estimates that annual savings from Plan activities, together
with other initiatives undertaken during the quarter, will be
approximately $2.1 million.
Item 8.01
Other
Events
The Company issued a press release dated October 29, 2008, a copy of
which is filed herewith as Exhibit 99.1 and is incorporated herein by
reference.
Item 9.01
Financial
Statements and Exhibits
(d)
Exhibits
99.1 Press release entitled “Baldwin Announces Realignment and
Expense Reduction” dated and issued by the Company on October 29, 2008
(furnished herewith).
This Current Report on Form 8-K contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond the Company’s control, which
could cause actual results to differ materially from those set forth in,
or implied by, such forward-looking statements. All statements other
than statements of historical facts included in this Current Report on
Form 8-K, including statements regarding the Company’s expected
restructuring and related charges and expenses associated with the Plan
are forward-looking statements. All forward-looking statements speak
only as of the date of this Current Report on Form 8-K. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. In addition to the risks and uncertainties of ordinary
business operations and conditions in the general economy and the
markets in which the Company competes, the forward-looking statements of
the Company contained in this Current Report on Form 8-K are also
subject to the following risks and uncertainties: the Company’s
restructuring and related charges and expenses associated with the Plan
varying materially from management’s current estimates of these charges
and expenses due to variations in anticipated headcount reductions,
contract terminations, and costs of the implementation of the Plan; and
other risks and uncertainties described in the Company’s Annual Report
on Form 10-K for the fiscal year ended June 30, 2008, and other
Securities and Exchange Commission filings.
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
|
|
|
BALDWIN TECHNOLOGY COMPANY, INC.
|
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/ John P. Jordan
|
|
|
|
|
John P. Jordan
|
|
|
|
|
Vice President, Treasurer and
|
|
|
|
|
Chief Financial Officer
|
|
|
|
|
|
|
|
|
|
|
Dated:
|
October 29, 2008
|
|
|
|
2
Baldwin (AMEX:BLD)
Historical Stock Chart
From May 2024 to Jun 2024
Baldwin (AMEX:BLD)
Historical Stock Chart
From Jun 2023 to Jun 2024