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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): JANUARY 19, 1994.
KERR GROUP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-7272 95-0898810
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State or other jurisdiction (Commission) (IRS Employer
of incorporation File Number) Identification
Number)
1840 Century Park East, Los Angeles, California 90067
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(Address of principal executive office)
Registrant's telephone number, including area code (310) 556-2200
EXHIBIT INDEX APPEARS ON PAGE 5
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Item 5. Other Events
On January 19, 1994, the Registrant announced that it intends
to relocate its home canning cap and lid manufacturing operations from Chicago,
Illinois to a new manufacturing facility in Jackson, Tennessee and to
permanently cease operations in its leased facility in Chicago.
The Registrant expects that this relocation will result in
improved efficiencies and cost reductions of approximately $3,000,000 pre-tax
per year ($1,836,000 after-tax or 50 cents per common share, primary and fully
diluted, per year). Relocation to Jackson is expected to be completed by the
end of 1994, with partial savings to be realized in 1995. Full savings are
expected to be realized in 1996.
The Registrant will record a reserve in the fourth quarter of
1993 for the expected costs associated with the relocation of the home canning
cap and lid manufacturing operations of $4,500,000 pre-tax ($2,754,000
after-tax or 75 cents per common share, primary and fully diluted).
A copy of the press release announcing the foregoing is
attached hereto as Exhibit 1.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) and (b) - Not applicable.
(c) Exhibits
1. Press Release, dated January 19, 1994.
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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 thereunto duly authorized.
KERR GROUP, INC.
By: /s/ D. Gordon Strickland
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Name: D. Gordon Strickland
Title: Senior Vice President, Finance
Dated: January 19, 1994
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EXHIBIT INDEX
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EXHIBIT NO. DOCUMENT PAGE
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1 Press Release dated 6
January 19, 1994
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1840 Century Park East
(KERR LOGO) Los Angeles, CA 90067
(310) 556-2200
FOR IMMEDIATE RELEASE
KERR TO RELOCATE HOME CANNING MANUFACTURING OPERATIONS
SAVINGS OF 50 CENTS PER COMMON SHARE ANTICIPATED
LOS ANGELES, CALIFORNIA, (January 19, 1994) - Kerr Group, Inc.
(NYSE:KGM) today announced its intention to relocate its home canning cap and
lid manufacturing operations from Chicago, Illinois to a new manufacturing
facility in Jackson, Tennessee and to permanently cease operations in its
leased facility in Chicago.
The Company expects that this relocation will result in improved
efficiencies and cost reductions of approximately $3,000,000 pre-tax per year
($1,836,000 after-tax or 50 cents per common share, primary and fully diluted,
per year). Relocation to Jackson is expected to be completed by the end of
1994, with partial savings to be realized in 1995. Full savings are expected
to be realized in 1996.
The Company will record a reserve in the fourth quarter of 1993 for the
expected costs associated with the relocation of the home canning cap and lid
manufacturing operations of $4,500,000 pre-tax ($2,754,000 after-tax or 75
cents per common share, primary and fully diluted).
Kerr, headquartered in Los Angeles, is a major producer of plastic
packaging products and home canning supplies.
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Company Contact: D. Gordon Strickland
Senior Vice President, Finance and
Chief Financial Officer
(310) 284-2585
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