form8k_051010.htm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
|
Date of Report (Date of earliest event reported)
|
May 5, 2010
|
ATC Technology Corporation
|
(Exact name of registrant as specified in its charter)
|
|
|
|
|
(State or other jurisdiction of incorporation)
|
|
(IRS Employer Identification No.)
|
1400 Opus Place, Suite 600, Downers Grove, Illinois
|
|
(Address of principal executive offices)
|
|
Registrant's telephone number, including area code
|
|
| |
(Former name or former address, 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):
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
o
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Forward-Looking Statement Notice
This Current Report on Form 8-K contains forward-looking statements (as such term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) and information relating to us that are based on the current beliefs of our management as well as assumptions made by and information currently available to management, including those related to the markets for our products, general trends in our operations or financial results, plans, expectations, estimates and beliefs. These statements reflect our judgment as of the date of this Current Report with respect to future events, the outcome of which is subject to risks, which may have a significant impact on our business, operating results or financial condition. Readers are cautioned that these forward-looking statements are inherently uncertain. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein. We undertake no obligation to update forward-looking statements. The factors that could cause actual results to differ are discussed in our Annual Report on Form 10-K for the year ended December 31, 2009 and our other filings made with the SEC.
Item 2.05. Costs Associated with Exit or Disposal Activities
On May 5, 2010, ATC Technology Corporation sold its engine remanufacturing business in the United Kingdom to two senior members of the UK management team. The sale price was less than the net book value of the assets of the business. As a result, we will record a loss of approximately $5.5 million or $0.28 per fully diluted share, which will be recorded in discontinued operations in the quarter ending June 30, 2010.
Item 8.01. Other Events
On May 10, 2010 ATC Technology Corporation also announced the extension of its transmission remanufacturing contract with Ford Motor Company through the end of 2012.
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: May 10, 2010
|
ATC TECHNOLOGY CORPORATION
|
| |
|
|
| |
By:
|
/s/ Joseph Salamunovich
|
| |
|
Joseph Salamunovich
|
| |
|
Title: Vice President
|