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): December 11,
2008
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STRATTEC
SECURITY CORPORATION
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(Exact
name of registrant as specified in its
charter)
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Wisconsin
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(State
or other jurisdiction of
incorporation)
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0-25150
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39-1804239
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(Commission
File Number)
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(I.R.S.
Employer I.D. Number)
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3333
West Good Hope Road
Milwaukee,
WI
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53209
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(414)
247-3333
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(Registrant's
telephone number; including area
code)
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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):
(17
CFR
230.425)
(17
CFR
240.14a-12)
Exchange
Act (17 CFR 240.14d-2(b))
Exchange
Act (17 CFR 240.13e-4(c))
Section
7 – Regulation FD
Item
7.01. Regulation FD
Disclosure.
On
December 11, 2008, STRATTEC SECURITY CORPORATION issued a press release (the
"Press Release") announcing the declaration of a quarterly dividend and the
completion of its acquisition, along with its partners WITTE Automotive of
Velbert, Germany, and Vehicle Access Systems Technology LLC, of certain assets,
primarily equipment and inventory, and assumption of certain employee
liabilities of Delphi Corporation's global Power Products business. A
copy of the Press Release is attached as Exhibit 99.1 to this
report. The attached Exhibit 99.1 is furnished pursuant to Item 7.01
of Form 8-K.
The
information in this Form 8-K and
the Exhibit attached hereto shall not be deemed "filed" for purposes of Section
18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933 or the Securities
Exchange Act of 1934, except as shall be expressly set forth by specific
reference in such filing.
Section
9 - Financial Statements and Exhibits
Item
9.01. Financial
Statements and
Exhibits.
(d) Exhibits
99.1
--
Press Release of STRATTEC SECURITY CORPORATION, issued December 11,
2008.
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SIGNATURE
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.
STRATTEC
SECURITY CORPORATION
Date: December
12, 2008
BY /s/ Patrick
J.
Hansen
Patrick
J. Hansen, Senior Vice President
and
Chief Financial Officer
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Exhibit
99.1
FOR
RELEASE AT 3:30 PM CDT
Contact: Pat
Hansen
Senior
Vice President and
Chief
Financial Officer
414-247-3435
www.strattec.com
STRATTEC
SECURITY CORPORATION
DECLARES
QUARTERLY DIVIDEND
AND
ANNOUNCES
COMPLETION OF DELPHI POWER PRODUCTS ACQUISITION
Milwaukee,
Wisconsin – December 11, 2008 -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT)
announced today that the Company’s Board of Directors at a meeting on December
9, 2008 declared a quarterly cash dividend of $0.15 per common
share. The quarterly dividend is payable on December 30, 2008 to
shareholders of record as of December 17, 2008.
Effective
November 30, 2008, STRATTEC SECURITY CORPORATION in combination with WITTE
Automotive of Velbert, Germany, and Vehicle Access Systems Technology LLC
(VAST), a joint venture between STRATTEC, WITTE and ADAC Automotive of Grand
Rapids, Michigan, completed the acquisition of certain assets, primarily
equipment and inventory, and assumption of certain employee liabilities of
Delphi Corporation’s global Power Products business for approximately $6.7
million. For the purposes of owning and operating the
North American portion of this acquired business, STRATTEC
established
a new subsidiary, STRATTEC Power Access LLC, which is 80% owned by STRATTEC
and
20% by WITTE Automotive. WITTE acquired the European portion of
the business, and VAST LLC acquired the Asian portion.
STRATTEC
Power Access business designs, develops, tests, manufactures, markets and sells
power systems to operate vehicle sliding side doors, and rear compartment access
points such as liftgates and trunk lids. In addition, the product
line includes power cinching latches and cinching strikers used in these
systems. Current customers for these products supplied from North
America are Chrysler LLC, Hyundai Motor Company, General Motors and Ford.
STRATTEC
SECURITY CORPORATION designs, develops, manufactures and markets mechanical
locks and keys, electronically enhanced locks and keys, steering column and
instrument panel ignition lock housings, latches and related access control
products for North American automotive customers, and for global automotive
manufacturers through the VAST Alliance in which it participates with WITTE
Automotive of Velbert, Germany and ADAC Automotive of Grand Rapids,
Michigan. The Company’s history in the automotive business spans 100
years.
Certain
statements contained in this release contain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements may be identified by the use of
forward-looking words or phrases such as “anticipate,” “believe,” “could,”
“expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and
“would.” Such forward-looking statements in this release are
inherently subject to many uncertainties in the Company’s operations and
business environment. These uncertainties include general economic
conditions, in particular, relating to the automotive industry, consumer demand
for the Company’s and its customers’ products, competitive and technological
developments, customer purchasing actions, foreign currency fluctuations, and
costs of operations. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue reliance on
such
forward-looking statements. The forward-looking statements made
herein are only made as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking statements
to
reflect subsequent events or circumstances occurring after the date of this
release. In addition, such uncertainties and other operational
matters are discussed further in the Company’s quarterly and annual filings with
the Securities and Exchange Commission.
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