Attached files

file filename
EX-99.1 - EXHIBIT 99.1 - INVACARE CORPprodtransferexhibit.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):
July 27, 2017

INVACARE CORPORATION

(Exact name of Registrant as specified in its charter)
Ohio
001-15103
95-2680965
(State or other Jurisdiction of
Incorporation or Organization)
(Commission File Number)
(I.R.S. Employer
Identification Number)

One Invacare Way, Elyria, Ohio 44035
(Address of principal executive offices, including zip code)

(440) 329-6000
(Registrant’s telephone number, including area code)

———————————————————————————————— 
(Former name, former address and former fiscal year, 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 (see General Instruction A.2. below):

¨ 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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨






Item 2.05. Costs Associated with Exit or Disposal Activities.
On July 28, 2017, Invacare Corporation (the “Company”) announced the transfer of production of Invacare® Rea® manual wheelchairs from its facility in Dio, Sweden to its wheelchair manufacturing facility in Fondettes, France. The Company expects to incur total costs of approximately $1.4 million including pre-tax cash restructuring charges, primarily relating to severance and transition assistance, of approximately $0.6 million. The restructuring costs are expected to be expensed in the third of 2017 through the first quarter of 2018 with cash payments during the same periods. Once this transfer is completed, the Company expects that it will generate approximately $1.6 million in annualized pre-tax savings in the Europe segment.

Item 7.01.    Regulation FD Disclosure.
On July 28, 2017, the Company issued a press release announcing the transfer of production of Invacare® Rea® manual wheelchairs from its facility in Dio, Sweden to its wheelchair manufacturing facility in Fondettes, France. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01.    Financial Statements and Exhibits.
(d) Exhibits.
 
 
 
Exhibit Number
Description of Exhibit
 
 
99.1
Press Release, dated July 28, 2017.






SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
INVACARE CORPORATION
 
(Registrant)
 
 
 
Date: July 28, 2017
By:
/s/ Robert K. Gudbranson
 
Name:
Robert K. Gudbranson
 
Title:
Senior Vice President and Chief Financial Officer







Exhibit Index

Exhibit Number
Description of Exhibit
 
 
99.1
Press Release, dated July 28, 2017.