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): June 25, 2012
______________
Sypris
Solutions, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
0-24020 |
61-1321992 |
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
101 Bullitt Lane, Suite 450 Louisville, Kentucky |
40222 |
|
(Address of Principal Executive Offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (502) 329-2000
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))
Section 8 – Other Events
Item 8.01 |
Other Events |
On June 28, 2012, Sypris Solutions, Inc. (the “Company”) issued a press release entitled “Sypris Joins the Russell 2000® Index”, announcing that the Company was added to the list of additions to the Russell 2000 Index as part of Russell Investment’s 2012 reconstitution process. A copy of the press release is attached as Exhibit 99 hereto, and is incorporated by reference herein. |
Section 9 – Financial Statements and Exhibits
Item 9.01 |
Financial Statements and Exhibits |
(d) | Exhibits. | |
Exhibit Number |
Description of Exhibit |
|
99 | Press release issued June 28, 2012. | |
In accordance with General Instruction B.2 of Form 8-K, the information in this current report, including Exhibit 99 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. |
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.
Dated: |
June 28, 2012 |
Sypris Solutions, Inc. |
|
|
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|
By: |
/s/ Brian A. Lutes |
Brian A. Lutes |
|||
Vice President & Chief Financial Officer |
INDEX TO EXHIBITS
Exhibit Number |
Description |
99 |
Registrant’s press release dated June 28, 2012. |
Exhibit 99
Sypris Joins the Russell 2000® Index
LOUISVILLE, Ky.--(BUSINESS WIRE)--June 28, 2012--Sypris Solutions, Inc. (Nasdaq/NM: SYPR) today announced that it has been added to the Russell 2000® Index effective June 22, 2012 as a result of the annual reconstitution of Russell’s family of indexes. Inclusion in the Russell 2000 Index is determined by total market capitalization.
“We are pleased to be added to the Russell 2000 Index, which reflects our positive momentum,” said President and Chief Executive Officer, Jeffrey T. Gill. “We believe our inclusion in the Russell 2000 will help increase visibility with investors and institutions that rely on the Russell indexes as part of their investment strategy, providing us with the opportunity to expand our shareholder base."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. In the institutional marketplace, an industry-leading $3.9 trillion in assets currently are benchmarked to them. Russell calculates more than 80,000 benchmarks daily covering approximately 98 percent of the investable market globally, 83 countries and more than 10,000 securities. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell 2000 and other Russell Indexes are available at http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.
Sypris Solutions is a diversified provider of outsourced services and specialty products. The Company performs a wide range of manufacturing, engineering, design and other technical services, typically under multi-year, sole-source contracts with corporations and government agencies in the markets for truck components and assemblies and aerospace and defense electronics. For more information about Sypris Solutions, visit its Web site at www.sypris.com.
Each “forward-looking statement” herein is subject to serious risks and should not be relied upon, as detailed in our most recent Form 10-K and Form 10-Q and subsequent SEC filings. Briefly, we currently believe that such risks also include: declining revenues in our aerospace and defense business lines as we transition from legacy products and services into new market segments and technologies; dependence on, recruitment or retention of key employees; reliance on major customers or suppliers, especially in the automotive or aerospace and defense electronics sectors; U.S. government spending on products and services that our Electronics Group provides, including the timing of budgetary decisions; our ability to develop new products and programs within the Electronics Group; cyber security threats and disruptions; potential impairments, non-recoverability or write-offs of goodwill, assets or deferred costs, including capitalized pre-contract costs related to the development of a replacement for certain aerospace and defense products; potential liabilities associated with discontinued operations, including post-closing indemnifications or claims related to business or asset dispositions; our inability to successfully launch or sustain new or next generation programs or product features, especially in accordance with budgets or committed delivery schedules; the costs of compliance with our auditing, regulatory or contractual obligations; regulatory actions or sanctions (in each case including FCPA, OSHA and Federal Acquisition Regulations, among others); inventory valuation risks including obsolescence, shrinkage, theft, overstocking or underbilling; pension valuation, health care or other benefit costs; labor relations; strikes; union negotiations; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; breakdowns, relocations or major repairs of machinery and equipment; changes or delays in government or other customer budgets, funding or programs; potential weaknesses in internal controls over financial reporting and enterprise risk management; the cost, efficiency and yield of our operations and capital investments, including working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; disputes or litigation, involving customer, supplier, lessor, landlord, creditor, stockholder, product liability or environmental claims; the costs and supply of debt, equity capital, or insurance; fees, costs or other dilutive effects of refinancing, compliance with covenants; cost and availability of raw materials such as steel, component parts, natural gas or utilities; volatility of our customers’ forecasts, financial conditions, market shares, product requirements or scheduling demands; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; failure to adequately insure or to identify environmental or other insurable risks; revised contract prices or estimates of major contract costs; risks of foreign operations; currency exchange rates; war, terrorism, or political uncertainty; unanticipated or uninsured disasters, losses or business risks; inaccurate data about markets, customers or business conditions; or unknown risks and uncertainties.
CONTACT:
Sypris Solutions, Inc.
Brian A. Lutes, 502-329-2000
Chief
Financial Officer