r8k8132009.htm
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): August
12, 2009
HNI
Corporation
(Exact
Name of Registrant as Specified in Charter)
Iowa
|
1-14225
|
42-0617510
|
(State
or Other Jurisdiction
of
Incorporation)
|
(Commission
File Number)
|
(IRS
Employer
Identification
No.)
|
408 East Second Street, P.O.
Box 1109, Muscatine, Iowa 52761-0071
(Address
of Principal Executive Offices, Including Zip Code)
Registrant’s
telephone number, including area code: (563)
272-7400
N/A
(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 obligations of the registrant under any of the following
provisions (see General
Instruction A.2.):
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
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
|
Section
2 — Financial Information
Item
2.05
|
Costs
Associated with Exit or Disposal
Activities.
|
On August
13, 2009, HNI Corporation (the "Corporation") announced it will make structural
changes to its hearth products manufacturing and logistic
operations. The Corporation will consolidate significant production
from its Mount Pleasant, Iowa plant to other existing hearth products
manufacturing facilities. Additionally, the Corporation will close
hearth products distribution centers in Alsip, Illinois and Lake City, Minnesota
and transfer operations to Mount Pleasant. The Corporation will begin
making these changes immediately and expects to complete them during the first
quarter of 2010. The Corporation made this decision to reduce
structural costs.
The
Corporation anticipates costs related to the structural changes will impact
pre-tax earnings an estimated $5.1 million. The following table lists
the estimated composition of these charges:
(Dollars
in millions)
Time
Period
|
Restructuring
Costs
|
Accelerated
Depreciation
|
Other
Costs
|
Total
|
2009
Q3
|
1.9
|
0.4
|
0.1
|
2.4
|
2009
Q4
|
0.6
|
0.5
|
0.6
|
1.7
|
2009
Total
|
4.1
|
2010
|
0.4
|
0.1
|
0.5
|
1.0
|
Grand
Total
|
5.1
|
The
Corporation estimates the structural changes will annually save $4.7 million
beginning in 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 hereunto
duly authorized.
|
|
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HNI
CORPORATION
|
Date:
|
August
13, 2009
|
|
By
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/s/ Steven M. Bradford |
|
|
|
|
Steven
M. Bradford
Vice
President, General Counsel and
Secretary
|