- Current report filing (8-K)
04 Novembro 2009 - 8:22PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, DC 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):
October 30, 2009
Hardinge
Inc.
(Exact name of Registrant as specified in its charter)
New
York
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000-15760
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16-0470200
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(State or other jurisdiction of
incorporation or organization)
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Commission file number
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(I.R.S. Employer
Identification No.)
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One
Hardinge Drive, Elmira, NY 14902
(Address of principal executive
offices) (Zip Code)
(607)
734-2281
(Registrants telephone number including area code)
N/A
(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:
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Written communication
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item 2.03 Creation of a Direct
Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of
a Registrant.
Kellenberger & Co. AG line of
credit with UBS AG
On
October 30, Kellenberger & Co. AG, an indirect wholly owned
subsidiary of Hardinge Inc. incorporated under the laws of Switzerland, entered
into a new Credit Agreement with UBS AG.
This new agreement provides Kellenberger a CHF 7.0 million facility that
provides for up to CHF 7.0 million for guarantees, documentary credit and
margin cover for foreign exchange trades and of which up to CHF 3 million of
the facility can be used for working capital. This facility is secured by the
Companys real estate in Biel Switzerland up to CHF 3.0 million. This new
facility replaced a CHF 4.0 million credit facility with the same bank that
provided up to CHF 4.0 million for
guarantees, documentary credit and margin cover for foreign exchange trades and
of which up to CHF 0.5 million of this facility could be used for working
capital. This new credit facility charges interest at the current rate of 5.75%
subject to change by the bank based on market condition. It carries no
commitment fees on unused funds. The credit facility contains a minimum equity
ratio covenant.
Hardinge
Machine Tools B.V., Taiwan Branch credit facility with Mega International
Commerce Bank Co., Ltd.
On
October 30, 2009, Hardinge Machine Tools B.V., Taiwan Branch, an indirect
wholly owned subsidiary of Hardinge Inc. incorporated under the laws of the
Netherlands, entered into a new unsecured credit facility with Mega
International Commercial Bank Co., Ltd.
This new agreement provides a NT$100,000,000 million facility for
working capital purposes. This new credit facility charges interest at the
banks current base rate of 2.5% subject to change by the bank based on market
condition. It carries no commitment fees on unused funds.
The
foregoing description of the material terms of the Credit Agreements are
qualified in their entirety by reference to the Credit Agreements which are
filed as Exhibits to this Form 8- K.
Item
9.01 Financial Statements and Exhibits
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The
following exhibits are filed herewith:
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10.1
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Credit
Agreement dated October 30, 2009 between Kellenberger & Co. AG
and UBS AG in the amount of CHF 7,500,000.
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10.2
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Credit
Agreement dated October 30, 2009 between Hardinge Machine Tools B. V.,
Taiwan Branch and Mega International Commercial Bank Co, Ltd. in the amount
of NT$100,000,000.
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2
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 thereunto duly
authorized.
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HARDINGE INC.
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Registrant
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Date: November 4,
2009
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By:
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/s/ EDWARD J. GAIO
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Edward J. Gaio
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Vice President and
Chief Financial Officer
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(Principal Financial
Officer)
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Date: November 4,
2009
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By:
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/s/ DOUGLAS J. MALONE
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Douglas J. Malone
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Corporate Controller
and Chief Accounting Officer
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(Principal Accounting
Officer)
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3
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