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 21, 2003
TOWER AUTOMOTIVE, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
1-12733 41-1746238
(Commission File Number) (I.R.S. Employer Identification No.)
5211 CASCADE ROAD SE - SUITE 300, GRAND RAPIDS, MICHIGAN 49546
(Address of Principal Executive Offices) (Zip Code)
(616) 802-1600
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
Item 9. Regulation FD Disclosure
On October 21, 2003, the Registrant issued a press release announcing
organizational changes. A copy of this press release follows below:
[TOWER AUTOMOTIVE LOGO]
NEWS
TOWER AUTOMOTIVE ANNOUNCES ORGANIZATIONAL CHANGES
- NORTH AMERICAN PRODUCT GROUPS CONSOLIDATED
- LEADERSHIP TEAM CHANGES
- COMPANY DESIGNATES NOVI, MICHIGAN, AS ENTERPRISE HEADQUARTERS
GRAND RAPIDS, Michigan - October 21, 2003 - Tower Automotive, Inc. (NYSE: TWR)
today announced a series of organizational changes in its North American
operations, including consolidating its North American product groups, making
changes to its leadership team and moving its enterprise headquarters.
"Tower Automotive is at a crossroads of our company's evolution. In the
next few years, we will enjoy tremendous revenue growth in all our regions. To
deliver on the promise of profitable growth expected by our shareholders and
operationally excellent performance demanded by our customers, we must better
leverage our scale and facilitate our ability to share learning and experiences
across the enterprise. These actions are designed to streamline our North
American operations, strengthen the company's leadership team and enable us to
more effectively serve our customers," said Kathleen Ligocki, President and
Chief Executive Officer of Tower Automotive.
NORTH AMERICAN REORGANIZATION
In order to present a unified presence to customers and foster sharing
of best practices across its manufacturing operations, the company is
consolidating its two North American product groups, Lower Vehicle Structures &
Modules and Body & Suspension Structures into one unified regional team.
(more)
Page 2
The new North America team will be led by TOM PITSER, who formerly
headed the company's Body & Suspension Structures Group. Pitser joined the
company in 1996 when Tower Automotive acquired MascoTech Stamping & Technology.
Previously, he was Vice President, Sales & Marketing for MascoTech, and also has
held various management positions at Borg-Warner Corporation. He holds a
bachelor of science degree in marketing from Ball State University and an MBA
from Wayne State University.
ENTERPRISE LEADERSHIP TEAM CHANGES
KATHY JOHNSTON, previously Enterprise Leader for Planning, Governance &
Business Development, has been named to a new position as Enterprise Leader for
Global Purchasing & Manufacturing Strategy, with responsibility for all of the
company's global purchasing activities, including materials and supplies,
capital equipment and services. She also will be responsible for developing a
global manufacturing strategy to improve capital resource allocations, sourcing
and plant utilization. Johnston is currently serving as the company's interim
Chief Financial Officer, and will assume her new position when a CFO is named.
Johnston joined Tower Automotive in 2000. Prior to that she held
various management positions at TRW Automotive. She holds a bachelor of science
degree in management from Purdue University and an MBA from the University of
Michigan.
THOMAS WERLE, formerly Technology Leader for Tower Automotive in
Europe, has been named to the new position of Enterprise Technology Leader.
Thomas will champion global product and process development activities and
oversee technology knowledge transfer within Tower Automotive.
Werle joined Tower Automotive in 2000 when the company acquired the
German firm, Dr. Meleghy GmbH. Previously, he held technical management
positions at several other firms in Germany. He holds both an undergraduate
degree and a Ph.D. in metal forming technology from the University of Stuttgart.
"Both of these new positions will allow us, for the first time, to view
two of our most critical assets - our technology and our manufacturing resources
- from a truly global and strategic perspective," said Ligocki.
(more)
Page 3
TECHNICAL CENTERS CONSOLIDATED; NOVI, MICHIGAN, NAMED AS COMPANY HEADQUARTERS
As part of its effort to build a single, unified North America team,
Tower Automotive also announced today the consolidation of its technical center
in Rochester Hills, Mich., into its Novi, Michigan technical center.
Approximately 170 colleagues will be affected by this move.
With the consolidation of the technical center staffs in Novi, Tower
Automotive will also relocate the company headquarters from Grand Rapids to
Novi, Michigan. This move is designed to better connect enterprise leadership
with customers and products at the company's largest technical center in
southeastern Michigan. Tower Automotive will maintain a shared services
operation in Grand Rapids.
Effective immediately, Tower Automotive's new headquarters address will
be: 27175 Haggerty Road, Novi, Michigan 48377-3626.
Tower Automotive, Inc., is a global designer and producer of vehicle structural
components and assemblies used by every major automotive original equipment
manufacturer, including Ford, DaimlerChrysler, GM, Honda, Toyota, Nissan, Fiat,
Hyundai/Kia, BMW, and Volkswagen Group. Products include body structures and
assemblies, lower vehicle frames and structures, chassis modules and systems,
and suspension components. The company is based in Grand Rapids, Michigan.
Additional company information is available at www.towerautomotive.com.
# # #
CONTACTS:
Media Inquiries Investor Inquiries
Bev Pierce 616-802-1630 Dave Tuit 616-802-1591
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This press release contains forward-looking statements relating to future
results of the company (including certain projections and business trends) that
are "forward-looking statements" as defined in the Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those projected as
a result of certain risks and uncertainties, including, but not limited to,
general economic condition in the markets in which Tower operates, and other
risks detailed from time to time in the company's Securities and Exchange
Commission filings.
October 21, 2003
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.
TOWER AUTOMOTIVE, INC.
Date: October 21, 2003 By:/s/ Kathy J. Johnston
----------------------------
Name: Kathy J. Johnston
Title: Corporate Officer