eps3577.htm
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K/A
(Amendment No. 1)
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): September
21, 2009
WATTS
WATER TECHNOLOGIES, INC.
(Exact
Name of Registrant as Specified in its Charter)
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DELAWARE
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001-11499
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04-2916536
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(State
or Other Jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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Identification
No.)
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815
Chestnut Street, North Andover, Massachusetts 01845
(Address
of Principal Executive Offices) (Zip Code)
(978)
688-1811
(Registrant's
telephone number, including area code)
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))
Explanatory
Note
On
September 25, 2009, Watts Water Technologies, Inc. (the “Registrant”) filed a
Current Report on Form 8-K (the “Initial Filing”) that disclosed under Item 2.05
thereof that the Registrant had committed to a plan to dispose of its investment
in its indirect, wholly-owned subsidiary Watts Valve (Changsha) Co., Ltd.
(“Changsha”). The Registrant is filing this Form 8-K/A to amend Item
2.05 of the Initial Filing to provide additional information regarding the plan
to dispose of Changsha, including the estimate of the amount of the loss
expected to be incurred in connection with the plan, which could not be
estimated at the time of the Initial Filing. Except as stated herein,
no other changes are being made to the Initial Filing.
Item
2.05 Costs Associated with Exit or Disposal
Activities.
On
September 25, 2009, the Registrant reported that it had committed to a plan to
dispose of the Registrant’s investment in Changsha by means of a sale of
Changsha. Due to the uncertainty of the potential sale price for
Changsha, the Registrant at the time was not able to make a good faith
determination of whether it would recognize a gain or a loss on the disposal of
Changsha or make a good faith estimate of the amount of any such gain or
loss.
The
Registrant currently estimates that it will incur a loss of approximately $7.3
million in connection with the sale of Changsha. This loss will be recorded in
discontinued operations for the Registrant’s third fiscal quarter ended
September 27, 2009.
This
Current Report on Form 8-K includes forward-looking statements on the amount of
the expected loss to be incurred in connection with the Changsha
disposition. Important factors could cause actual results to differ
materially from these forward-looking statements. These factors
include, but are not limited to: the success of the investment bank
in finding an appropriate buyer for Changsha, market conditions in China,
Chinese governmental regulations, economic and financial conditions generally,
the availability of willing buyers, foreign exchange rate fluctuations and other
risks and uncertainties discussed under the heading “Item 1A. Risk Factors” in
the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2008
filed with the Securities and Exchange Commission and other reports the
Registrant files from time to time with the Securities and Exchange
Commission.
SIGNATURE
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.
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Date:
October 20, 2009
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WATTS
WATER TECHNOLOGIES, INC.
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By:
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/s/
Kenneth R. Lepage
__________________________________
Kenneth
R. Lepage
General
Counsel
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