Thermo Electron Corporation Form 8-K Announcement 04 26 06
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):
April
26, 2006
________________________________________
THERMO
ELECTRON CORPORATION
(Exact
name of Registrant as specified in its Charter)
|
Delaware
|
1-8002
|
04-2209186
|
|
(State
or other jurisdiction of
|
(Commission
File Number)
|
(I.R.S.
Employer Identification
|
|
incorporation
or organization)
|
|
Number)
|
|
81
Wyman Street, P.O. Box 9046
|
|
|
Waltham,
Massachusetts
|
02454-9046
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
(781)
622-1000
(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):
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
April 26, 2006, Thermo Electron Corporation (the “Company”) announced its
decision to discontinue all manufacturing and distribution operations at its
Milford, Massachusetts facility. The facility is part of the Company’s
Life and Laboratory Sciences segment and the operations consist of a service
depot, distribution activities and the manufacture of four product lines -
centrifuges, molecular biology products, vacuum concentrators and power
supplies. The service depot and distribution activities will be relocated to
the
Company’s facility in Asheville, North Carolina, which was acquired as a result
of the Kendro acquisition in May 2005. All of the product lines, with the
exception of the power supply line, are being relocated to other facilities
of
the Company. Manufacture of power supplies will be outsourced to an
unrelated third party.
As
a result of the plant closing, approximately 100 employees will be
severed. Restructuring and related charges associated with the plant
closing are expected to be approximately $8 million, which will be incurred
primarily in the second and third quarters of 2006. Of these charges,
approximately $5.5 million represent cash costs, including $2.3 million of
severance and related personnel costs and $3.2 million of abandoned facility
costs. In addition, the Company expects to incur $2.5 million of asset
write-offs.
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 thereunto
duly authorized, on this 28th
day of April, 2006.
| |
THERMO
ELECTRON CORPORATION
|
| |
|
|
| |
|
|
| |
By:
|
/s/
Seth H. Hoogasian
|
| |
|
Name:
Seth H. Hoogasian
|
| |
|
Title: Vice
President, General
Counsel and Secretary
|
| |
|