Current
Report
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): March
18, 2005
Raytech
Corporation
(Exact
name of registrant as specified in its charter)
|
Delaware |
1-9298 |
06-1182033 |
|
(State
or other jurisdiction |
(Commission
|
(IRS
Employer |
|
of
incorporation) |
File
Number) |
Identification
No.) |
|
Suite
295, Four Corporate Drive, Shelton, CT |
06484 |
|
(Address
of principal executive offices) |
(Zip
Code) |
203-925-8021
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))
Caution Regarding Forward Looking
Statements
Statements
in this Report relating to management’s views of trends, the effects of changing
prices, plans, objectives and other matters for future operating periods are
“forward-looking statements” as defined in the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to significant
risks and uncertainties that could cause actual results to differ materially
from the results in the statements. Forward-looking statements relating to the
Registrant’s businesses are based on assumptions concerning certain factors that
are not predictable and are subject to change. These factors include general
economic conditions, worldwide demand for automotive and heavy duty vehicles,
consumer confidence, actions of competitors, vendors and customers, factors
affecting costs such as raw material prices, labor relations and environmental
compliance and remediation, interest and foreign currency exchange rates,
technological issues, accounting standards, and other risks set forth in the
registrant’s filings with the Securities and Exchange Commission. The
forward-looking statements herein are made as of the date of this Report. The
Registrant has no obligation to update its forward-looking
statements.
Item
2.05 Costs Associated with Exit or Disposal Activities
On
November 1, 2004, the registrant reported certain estimated costs relating to
the closure of the manufacturing facility of its subsidiary, Raybestos (U.K.)
Ltd. (“RUK”). The Registrant has long-term lease obligations associated with the
RUK facility and at the time of the initial filing could not estimate the cost
associated with the termination of these leases. The Registrant has recently
received information permitting it to make an estimate of the costs associated
with the termination, and now estimates the cost of terminating the long-term
leases to be $ .6 million. The Registrant estimates that all of the above
estimated lease termination costs amounts will result in future cash
expenditures.
The above
estimates are management’s best estimates based on currently available
information and are subject to change.
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.
Raytech
Corporation
(Registrant)
Date
March 24 , 2005
(Signature)*
/s/
John B.
Devlin
John B.
Devlin, Vice President, Treasurer and Chief Financial Officer
*Print
name and title of the signing officer under his signature.