8-K 1 v306727_8k.htm FORM 8-K

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): March 19, 2012

ALBANY MOLECULAR RESEARCH, INC.
(Exact Name of Registrant as Specified in Charter)

Delaware 000-25323 14-1742717

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

21 Corporate Circle, P.O. Box 15098, Albany, NY 12212
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (518) 512-2000

 (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) :

 

¨ 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 19, 2012, the Company approved a restructuring plan related to its operations in Budapest, Hungary.  The goal of the restructuring plan is to advance the Company’s continued strategy of increasing global competitiveness and remaining diligent in managing costs by improving efficiency and customer service and by realigning resources to meet shifting customer demand and market preferences. In connection with the restructuring plan, the Company will cease all operations at its Budapest facility effective March 30, 2012, and reduce its staff to those necessary to complete the closure of the Budapest facility. The restructuring plan will affect approximately 100 employees at this location. The Company expects to complete the restructuring plan in the second quarter of 2012; however the liquidation of the legal entity is expected to take a longer period of time.  The Company is in the process of estimating the costs associated with the foregoing restructuring plan as well as the amounts of the charge that will result in future cash expenditures and will disclose this information in an amendment to this current report on Form 8-K.

 

 
 

 

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.

 

Date: March 21, 2012 ALBANY MOLECULAR RESEARCH, INC.
     
  By: /s/ Mark T. Frost
    Name: Mark T. Frost
    Title: Senior Vice President, Administration,
    Chief Financial Officer and Treasurer