SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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):
October 23, 2000
Lexmark International, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-14050 06-1308215
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(State or other Jurisdiction (Commission (IRS Employer
of Incorporation) File No.) Identification No.)
One Lexmark Centre Drive, 740 West New Circle Road, Lexington, Kentucky 40550
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (859) 232-2000
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ITEM 5. OTHER EVENTS.
Lexmark International, Inc. (the "Company") announced today a
restructuring plan that will result in pre-tax charges of $35-45 million with an
impact on diluted net earnings per share of 19 to 24 cents in the fourth quarter
of 2000. These non-recurring charges relate to the relocation of manufacturing,
primarily laser printers, to Latin America and Asia, and reductions in
associated support infrastructure. The restructuring plan provides for the
separation of up to 900 employees, related pension costs, and the write-off of
certain assets. Annual savings from the restructuring should approximate $100
million by 2002, and will be utilized to strengthen the Company's competitive
position.
Statements contained in this report which are not statements of
historical fact are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Forward-looking statements are made based upon management's current
expectations and beliefs concerning future developments and their potential
effects upon the Company. There can be no assurance that future developments
affecting the Company will be those anticipated by management, and there are a
number of factors that could adversely affect the Company's future operating
results or cause the Company's actual results to differ materially from the
estimates or expectations reflected in such forward-looking statements,
including without limitation, the Company's ability to successfully implement
its restructuring plan. The Company undertakes no obligation to update any
forward-looking statement.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
LEXMARK INTERNATIONAL, INC.
By: /s/ Gary E. Morin
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Name: Gary E. Morin
Title: Executive Vice President and Chief
Financial Officer
Date: October 23, 2000
