- Current report filing (8-K)
April 06 2009 - 4:57PM
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 and Exchange Act of 1934
Date of Report
(Date of earliest event reported)
March 31, 2009
CARLISLE COMPANIES INCORPORATED
(Exact name of
registrant as specified in its charter)
Delaware
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1-9278
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31-1168055
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(State or other
jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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13925 Ballantyne Corporate Place,
Suite 400, Charlotte, NC 28277
(Address of principal
executive offices)
704-501-1100
(Registrants
telephone number)
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
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFS
230.425)
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o
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Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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INFORMATION TO BE
INCLUDED IN THE REPORT
Item 2.05.
Costs Associated with Exit or Disposal
Activities
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On March 31, 2009, Carlisle Companies
Incorporated (the Company) decided to exit the on-highway friction and brake
shoe business (the on-highway braking business) operated by its wholly-owned
subsidiary, Motion Control Industries, and dispose of the assets used in the
business as part of a planned dissolution.
In connection with its decision to dissolve the on-highway braking
business, the Company is evaluating the resulting asset impairment and
severance charge and currently estimates the after-tax amount to approximate $4.5
million. The expected charge will be
recorded in the Companys results from discontinued operations for the first
quarter ended March 31, 2009. Total
after-tax losses associated with the disposition and dissolution of the
on-highway braking business approximate $49.8 million and include the following
charges reported in the first quarter ended March 31, 2008 as a result of
the Companys earlier decision to dispose of the on-highway braking business: (i) $27.6
million after-tax impairment charge relating to goodwill and other intangible
assets, (ii) $10.6 million after-tax impairment charge relating to
long-lived assets, and (iii) $7.1 million after-tax impairment charge
relating to inventory. Additional losses are possible as the Company completes
the disposition and dissolution of the on-highway braking business.
Item 2.06
Material Impairments
.
See discussion above under Item 2.05 Costs Associated
with Exit or Disposal Activities.
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
See Exhibit Index
attached hereto.
1
SIGNATURES
Pursuant to the requirements of the Securities and
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
Dated: April 6, 2009
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CARLISLE COMPANIES INCORPORATED
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By:
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/s/ Steven J. Ford
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Steven J. Ford, Vice President and Chief Financial
Officer
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2
EXHIBIT INDEX
Exhibit
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Number
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Description
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99.1
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Press release reporting cessation of the Companys on-highway
braking business.
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3
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