U.S.
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) November
12, 2010
GREATBATCH,
INC.
(Exact
name of registrant as specified in its charter)
Delaware |
1-16137 |
16-1531026 |
(State or other jurisdiction of incorporation) |
(Commission File Number)
|
(IRS Employer Identification No.)
|
10000 Wehrle Drive, Clarence, New York |
14031 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code (716) 759-5600
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:
⃞ 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 November 17, 2010, the Company announced that it has consolidated its
Greatbatch Medical business under the leadership of Mauricio Arellano.
As part of this consolidation, there will be a realignment of resources
in which certain positions globally will be eliminated and restructured.
The severance charges associated with this realignment are estimated to
be between $2 million and $3 million, the majority of which will be
recorded in the fourth quarter of 2010 and paid over the next twelve
months. A significant portion of the annual savings as a result of these
initiatives will be reinvested into research and development activities
with higher growth opportunities, including further investment in the
Company’s systems and device level projects.
Item
9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release dated November 17, 2010.
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.
Dated: |
November 17, 2010 |
GREATBATCH, INC. |
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By: |
/s/ Thomas J. Mazza |
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Thomas J. Mazza |
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Senior Vice President & Chief Financial |
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Officer |