-----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, EObdw62bPoooX65ud4BPzv2PmXb28LvzNQpDMkKlV+ARKD5aKSagL4VhrWM+YIt4 mJKqBod/wp+6yU0VFPY58g== 0000912057-02-014434.txt : 20020416 0000912057-02-014434.hdr.sgml : 20020416 ACCESSION NUMBER: 0000912057-02-014434 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020408 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020410 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARDINGE INC CENTRAL INDEX KEY: 0000313716 STANDARD INDUSTRIAL CLASSIFICATION: MACHINE TOOLS, METAL CUTTING TYPES [3541] IRS NUMBER: 160470200 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15760 FILM NUMBER: 02606806 BUSINESS ADDRESS: STREET 1: ONE HARDING DRIVE CITY: ELMIRA STATE: NY ZIP: 14902 BUSINESS PHONE: 6077342281 MAIL ADDRESS: STREET 1: ONE HARDINGE DRIVE CITY: ELMIRA STATE: NY ZIP: 14902 FORMER COMPANY: FORMER CONFORMED NAME: HARDINGE BROTHERS INC DATE OF NAME CHANGE: 19920703 8-K 1 a2076293z8-k.txt FORM 8-K 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 8, 2002 Commission file number: 000-15760 --------- HARDINGE INC. (Exact name of Registrant as specified in its charter) New York 16-0470200 - -------- ---------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) One Hardinge Drive Elmira, NY 14902 ----------------------------------- (Address of principal executive offices) (Zip code) (607) 734-2281 (Registrant's telephone number including area code) ITEM 5. OTHER EVENTS On April 8, 2002, Hardinge Inc. issued a press release announcing the Company had amended its current financial arrangement, effectively creating a new revolving credit facility for secured borrowings of up to $40 million through August 1, 2003. A copy of the press release is included as Exhibit 99 to this Current Report on Form 8-K and is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Not applicable (b) Not applicable (c) Exhibits 99 Press Release issued by registrant on April 8, 2002. 2 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, thereunto duly authorized. HARDINGE INC. April 10, 2002 By: /s/ Richard L. Simons - ---------------- ---------------------------------------------- Date Richard L. Simons Executive Vice President and Chief Financial Officer (Principal Financial Officer) 3 EX-99.1 3 a2076293zex-99_1.txt EXHIBIT 99.1 EXHIBIT 99 [FRB/WEBER SHANDWICK LETTERHEAD] RE: HARDINGE, INC. ONE HARDINGE DRIVE ELMIRA, NY 14902 (NASDAQ: HDNG) AT THE COMPANY: AT FRB | WEBER SHANDWICK: Richard L. Simons Kerry Thalheim John McNamara Exec VP & CFO General Inquiries Analyst Inquiries (607) 734-2281 (212) 445-8437 (212) 445-8435 FOR IMMEDIATE RELEASE APRIL 8, 2002 HARDINGE INC. ANNOUNCES CLOSING OF $40 MILLION SECURED REVOLVING CREDIT FACILITY ELMIRA, N.Y., April 8, 2002 - Hardinge Inc. (Nasdaq: HDNG), a leading producer of advanced material-cutting solutions, announced today that it has amended its current financial arrangement, effectively creating a new revolving credit facility for secured borrowings of up to $40 million through August 1, 2003. The facility was arranged with a group of three banks led by JPMorgan Chase Bank as administrative agent and replaces a $50 million facility with the same three banks that had $18.4 million in outstanding borrowings as of March 31, 2002. The Company also announced completion of amendments to the covenants included in its term loan agreements. "We are pleased with our long-term borrowing arrangements which we are confident will satisfy our financing needs for the foreseeable future," said Richard L. Simons, Executive Vice President and Chief Financial Officer. "Considering the difficult business environment in which we find ourselves, we believe the rate, terms and conditions of our new facility reflect Hardinge's solid balance sheet, a relatively low debt to capitalization ratio and large asset base, as well as the confidence and support of the banking community." Hardinge Inc., founded more than 100 years ago, is an international leader in providing the latest industrial technology to companies requiring material-cutting solutions. The Company designs and manufactures computer-numerically controlled metal-cutting lathes, machining centers, grinding machines and other industrial products. The Company's common stock trades on Nasdaq under the symbol "HDNG." For more information, please visit the Company's website at www.hardinge.com. This news release contains statements of a forward-looking nature relating to the financial performance of Hardinge Inc. Such statements are based upon information known to management at this time. The company cautions that such statements necessarily involve uncertainties and risk, and deal with matters beyond the company's ability to control and in many cases the company cannot predict what factors would cause actual results to differ materially from those indicated. Among the many factors that could cause actual results to differ from those set forth in the forward-looking statements are fluctuations in the machine tool business cycles, changes in general economic conditions in the U.S. or internationally, the mix of products sold and the profit margins thereon, the relative success of the company's entry into new product and geographic markets, the company's ability to manage its operating costs, actions taken by customers such as order cancellations or reduced bookings by customers or distributors, competitors' actions such as price discounting or new product introductions, governmental regulations and environmental matters, changes in the availability and cost of materials and supplies, the implementation of new technologies and currency fluctuations. Any forward-looking statement should be considered in light of these factors. The company undertakes no obligation to revise its forward-looking statements if unanticipated events alter their accuracy. ### -----END PRIVACY-ENHANCED MESSAGE-----