INVACARE CORPORATION (NYSE:IVC) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 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.
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(d) Exhibits. |
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Exhibit Number |
Description of Exhibit |
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99.1 |
Press Release, dated July 28, 2017. |
INVACARE CORP ExhibitEX-99.1 2 prodtransferexhibit.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 NEWS RELEASECONTACT:Lara Mahoney 440-329-6393INVACARE CORPORATION ANNOUNCES TRANSFER OF WHEELCHAIR PRODUCTION FROM SWEDEN TO FRANCEELYRIA,…To view the full exhibit click here
About INVACARE CORPORATION (NYSE:IVC)
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific. The Company manufactures and distributes three product categories: mobility and seating, lifestyle and respiratory therapy. It provides medical device solutions for congenital (cerebral palsy, muscular dystrophy and spina bifida), acquired (stroke, spinal cord injury, traumatic brain injury, post-acute recovery and pressure ulcers) and degenerative (amyotrophic lateral sclerosis, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly and bariatric) ailments. The Company sells its products to home medical equipment providers with retail and e-commerce channels, residential living operators, distributors and government health services.