Current Report Filing (8-k)

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 4, 2019

SILGAN HOLDINGS INC.

(Exact name of Registrant as specified in its charter)

Delaware	000-22117	06-1269834
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

 

4 Landmark Square, Stamford, Connecticut	06901
(Address of principal executive offices)	(Zip Code)

 

 

Registrant's telephone number, including area code:

[phone]

 

 

N/A

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	SLGN	Nasdaq Global Select Market

 

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))

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.  ☐

 

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Section 8—Other Events

Item 8.01.    Other Events.

On June 4, 2019, the Registrant announced a footprint optimization plan for its metal container business, which includes the closing of two metal container manufacturing facilities.  These facility closings, in conjunction with the ratification last month of a new labor agreement at another metal container manufacturing facility of the Registrant, will result in the Company’s complete withdrawal from the Central States Pension Fund.  As a result, the Registrant expects to recognize estimated pre-tax rationalization charges of (i) approximately $5.2 million in 2019 related to the plant closings, approximately $2.1 million of which is expected to be recognized in the second quarter of 2019, and (ii) approximately $37 million in 2019 related to the withdrawal from the Central States Pension Fund for the present value of the currently estimated withdrawal liability, of which approximately $36 million is expected to be recognized in the second quarter of 2019.  For additional information regarding this announcement, refer to Exhibit 99.1 filed with this Current Report on Form 8-K.

Section 9—Financial Statements and Exhibits

Item 9.01.    Financial Statements and Exhibits .

(d)     Exhibits

Exhibit No.   Description

99.1

Press Release dated June 4, 2019 announcing a footprint optimization plan for the Registrant’s metal container business.

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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.

SILGAN HOLDINGS INC.

By:  /s/ Frank W. Hogan, III                         

Frank W. Hogan, III

Senior Vice President, General

  Counsel and Secretary

Date:  June 4, 2019

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