e8vk
 

 
 
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): September 7, 2007
LENNOX INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)
         
Delaware
(State or other jurisdiction
of incorporation)
  001-15149
(Commission File Number)
  42-0991521
(IRS Employer
Identification No.)
2140 Lake Park Blvd.
Richardson, Texas 75080

(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code:
(972) 497-5000
(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 September 7, 2007, Lennox International Inc. (the “Company”) announced plans to close its hearth products operations in Lynwood, California and consolidate its U.S. factory-built fireplace manufacturing operations in its facility in Union City, Tennessee.
     With the current downturn in the residential new construction market, combined with increasing competition and the need to control costs, the Company believes the consolidation is necessary to increase efficiencies in its hearth products operations and to be more competitive in the future. The consolidation will be a phased process and is expected to be completed by the end of the second quarter of 2008.
     In conjunction with these actions, the Company currently expects to incur restructuring-related charges of approximately $5.4 million pre-tax. Included in these charges are the following estimated costs:
    One-time employee termination benefits of approximately $2.5 million consisting primarily of severance and related fringe benefits; and
 
    Other associated costs of approximately $2.9 million, which include (i) loss on disposal of certain long-lived assets of approximately $0.5 million; (ii) relocation costs of approximately $1.1 million primarily for equipment and inventory and (iii) other associated costs of approximately $1.3 million.
     The above estimated costs are expected to result in short-term cash outlays of approximately $4.9 million and non-cash asset write-offs of approximately $0.5 million.
     This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based upon management’s beliefs, as well as assumptions made by and information currently available to management. All statements other than statements of historical fact included in this Form 8-K constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements identified by the words “expects to,” “currently expects” and similar expressions. Actual events or results may differ materially from such forward-looking statements. For information about the factors that could cause such differences, please refer to the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

 


 

Item 9.01     Financial Statements and Exhibits.
     (c)     Exhibits.
         
  EXHIBIT
NUMBER
 
DESCRIPTION
       
  99.1   Press release dated September 7, 2007.

 


 

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.
         
  LENNOX INTERNATIONAL INC.
 
 
Date: September 10, 2007  By:   /s/ Kenneth C. Fernandez    
    Name:   Kenneth C. Fernandez   
    Title:   Associate General Counsel