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 February 12, 2018, Invacare Corporation (the “Company”) announced that it will transfer production of Küschall® manual wheelchairs from its facility in Witterswil, Switzerland to its wheelchair manufacturing facility in Fondettes, France by the end of the third quarter 2018. This move will allow the company to better optimize its wheelchair manufacturing facility in France. The front office of the Swiss facility will remain open and continue to serve as Invacare’s European headquarters and research and development center of excellence, as well as the Swiss sales office. The transfer is expected to generate an incremental $1.7 million in annualized pre-tax savings in the Europe business segment. Due to this realignment, the company expects to incur restructuring charges and related operating costs of approximately $1.1 million on a pre-tax basis in the Europe business segment. Cash restructuring charges will be paid in the third quarter 2018.
Item 7.01. Regulation FD Disclosure.
On February 12, 2018, the Company issued a press release announcing it will transfer production of Küschall® manual wheelchairs from its facility in Witterswil, Switzerland to its wheelchair manufacturing facility in Fondettes, France by the end of the third quarter 2018.
Item 9.01 Financial Statements and Exhibits.
Description of Exhibit
Press Release, dated February 12, 2018
INVACARE CORP ExhibitEX-99.1 2 feb20188kexhibit.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 NEWS RELEASECONTACT:Lara Mahoney 440-329-6393INVACARE CORPORATION TRANSFERS KÜSCHALL WHEELCHAIR PRODUCTION FROM SWITZERLAND TO FRANCEELYRIA,…To view the full exhibit click
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.