SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 30, 2005
(Exact name of registrant as specified in its charter)
or other jurisdiction
|(Commission File Number)||(I.R.S. Employer
100 Gando Drive, New Haven, Connecticut
(Address of principal executive offices, including zip code)
(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)).
Item 2.05. COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES
On March 30, 2005, the authorized senior executive officers of Transpro, Inc. (the "Company") determined to commit the Company to closing two warehousing operations and a returns processing facility in Memphis, Tennessee in connection with the opening of a new distribution facility in Southaven, Mississippi. The Company is taking these actions in order to streamline its distribution network and enhance its commitment to customer service. The relocation and closing activities are expected to be completed by June 30, 2005 and will result in the Company incurring approximately $400,000 to $500,000 of restructuring costs. Of these costs, between $350,000 and $425,000 will be associated with relocating inventory, while between $50,000 and $75,000 of the total cost will be one-time personnel related termination expenses. All of the aforementioned costs will result in future cash expenditures.
On March 30, 2005, the Company issued the press release attached hereto as Exhibit 99.1 with respect to the foregoing matters. .
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits – The following exhibit is furnished as part of this report:
|99.1||Press Release dated March 30, 2005.|
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.
|Date: March 30, 2005||By:||/s/ Richard A. Wisot|
|Richard A. Wisot
Vice President, Treasurer, Secretary,
and Chief Financial Officer