-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RQpaexDiIZeCZZ7kMXkRPKytLU1ZYuwfOEJy6m3/ojYX2JmHcHuInzK+j2hLUe+1 63n9NsbIz48xyA8ylec16w== 0000950159-05-001480.txt : 20051219 0000950159-05-001480.hdr.sgml : 20051219 20051219143119 ACCESSION NUMBER: 0000950159-05-001480 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20051216 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051219 DATE AS OF CHANGE: 20051219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: K TRON INTERNATIONAL INC CENTRAL INDEX KEY: 0000000020 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 221759452 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09576 FILM NUMBER: 051272170 BUSINESS ADDRESS: STREET 1: ROUTE 55 & 553 STREET 2: BOX 888 CITY: PITMAN STATE: NJ ZIP: 08071-0888 BUSINESS PHONE: 8562563318 MAIL ADDRESS: STREET 1: ROUTE 55 & 553 STREET 2: P O BOX 888 CITY: PITMAN STATE: NJ ZIP: 08071-0888 8-K 1 ktron8k.htm K-TRON 8K 12-19-05 K-Tron 8k 12-19-05
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): December 16, 2005


K-TRON INTERNATIONAL, INC.
(Exact Name of Registrant Specified in Charter)

 
New Jersey
(State or Other
Jurisdiction of
Incorporation)
 
0-9576
(Commission File
Number)
 
22-1759452
(I.R.S. Employer
Identification No.)
 
     
Routes 55 & 553
P.O. Box 888
   
Pitman, New Jersey
 
08071-0888
(Address of Principal Executive Offices)
 
(Zip Code)

Registrant's telephone number, including area code: (856) 589-0500
 
____________Not Applicable_______________
(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 8.01 Other Events.

On December 16, 2005, K-Tron International, Inc. issued a press release announcing its plan to repatriate $10 million of undistributed foreign earnings of its Swiss subsidiary under the American Jobs Creation Act. A copy of the press release is attached as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

 
(a)
Financial Statements of Businesses Acquired.
     
   
None.
     
 
(b)
Pro Forma Financial Information.
     
   
None.
     
 
(c)
Shell Company Transactions.
     
   
None.
     
 
(d)
Exhibits.
     
   
Exhibit No.
Description
       
   
99.1
Press Release dated December 16, 2005 issued by
     
K-Tron International, Inc.


 
-2-

 

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.


 
K-TRON INTERNATIONAL, INC.
 
   
     
 
By
EDWARD B. CLOUES, II
   
Edward B. Cloues, II
   
Chairman of the Board and Chief Executive Officer
 
   


Dated: December 19, 2005


 
-3-

 


Exhibit Index


Exhibit No.
Description
     
99.1
Press Release dated December 16, 2005 issued by K-Tron International, Inc.
 
-4-
 


 
EX-99.1 2 ex99-1.htm EXHIBIT 99.1 Exhibit 99.1
Exhibit 99.1
 K-Tron Logo
K-TRON INTERNATIONAL, INC.
Routes 55 & 553, PO Box 888
Pitman, NJ 08071-0888
(856) 589-0500
FAX (856) 582-7968
www.ktron.com
E-mail: ktii@ktron.com

NEWS



For Release:
Immediately
 
     
Contact:
Ronald Remick, Senior Vice President and Chief Financial Officer
 
Tel: (856) 256-3311
E-mail: remick@ktron.com


K-TRON ANNOUNCES PLAN TO REPATRIATE FOREIGN EARNINGS
UNDER PROVISIONS OF THE AMERICAN JOBS CREATION ACT

Pitman, New Jersey - - December 16, 2005 - - K-Tron International, Inc. (NASDAQ-KTII) announced today that its Board of Directors has approved a plan to repatriate $10 million of undistributed foreign earnings of its Swiss subsidiary under the American Jobs Creation Act (the “Act”). This repatriation will be funded from existing cash balances of the Swiss subsidiary and will be completed before the end of the year. The Act, which was passed in October 2004, provides a temporary incentive for United States companies to repatriate accumulated income earned in foreign jurisdictions at a reduced income tax cost. The estimated U.S. federal and state income tax expense and Swiss withholding tax associated with the planned repatriation is approximately $0.9 million, or approximately $0.33 per fully diluted share, and this one-time cost will be recorded in the fourth quarter of 2005.

Proceeds from the repatriation will be reinvested in the Company’s domestic operations consistent with the intent of the Act. Potential uses of the repatriated cash include, among others, acquisitions of domestic businesses, debt reduction, capital investment and the funding of research and development.

The Company intends to use the balance of its undistributed foreign earnings and the future earnings of its foreign subsidiaries to expand operations outside the U.S. Accordingly, the balance of such undistributed earnings following the repatriation and the future earnings of foreign subsidiaries are considered to be indefinitely reinvested outside the U.S., and, unless the Company changes its policy in the future, no provision for U.S. federal or state income taxes or for foreign withholding taxes will be provided thereon.

K-Tron International, Inc. and its subsidiaries design, produce, market and service material handling equipment and systems for a wide variety of industrial markets. The Company has manufacturing facilities in the United States, Switzerland and the United Kingdom, and its equipment is sold throughout the world.

* * * * *


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