form8_k.htm
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) December 9,
2008
FRANKLIN ELECTRIC CO.,
INC.
(EXACT
NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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INDIANA
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0-362
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35-0827455
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(STATE
OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)
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(COMMISSION
FILE NUMBER)
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(I.R.S.
EMPLOYER IDENTIFICATION NO.)
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400
EAST SPRING STREET
BLUFFTON, INDIANA
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46714
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(ADDRESS
OF PRINCIPAL EXECUTIVE OFFICES)
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(ZIP
CODE)
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(260)
824-2900
(REGISTRANT'S
TELEPHONE NUMBER, INCLUDING AREA CODE)
No
Change
(Former
name and 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
As part
of a continuing effort to increase manufacturing utilization and maintain world
class manufacturing capabilities, on December 9, 2008 management of Franklin
Electric Co., Inc. (“the Company”) approved a plan for the rationalization of
its Siloam Springs, Arkansas facility and the transfer of its Joinville, Brazil
facility to a new location in the same city. On December 9, 2008, the Company
issued a press release to announce these decisions. A copy of the press release
is attached as Exhibit 99.1.
The total
cost of this rationalization and transfer is estimated to be between $6.3
million and $8.3 million. The major categories of cost include the
following;
Severance
and other employee assistance
costs $0.8
to $1.1
Pension
curtailments 1.7 to 2.0
Asset
write-downs 2.8 to 3.2
Equipment
relocations 1.0 to 2.0
All
categories of costs represent cash expenditures to be recognized as they are
made, except Pension curtailments and asset write-offs.
Item
9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press
release, dated December 9, 2008, issued by Franklin Electric Co.,
Inc.
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 thereunto
duly authorized.
FRANKLIN ELECTRIC CO.,
INC.
(Registrant)
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Date: December 9, 2008
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By /s/ John H.
Haines
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John
H. Haines
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Vice
President, Chief Financial
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Officer
and Secretary (Principal
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Financial
and Accounting Officer)
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