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TTMI > SEC Filings for TTMI > Form 8-K on 16-Jan-2009All Recent SEC Filings

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Form 8-K for TTM TECHNOLOGIES INC


16-Jan-2009

Costs Associated with Exit or Disposal Activities, Financial Statements and


Item 2.05 Costs Associated with Exit or Disposal Activities
On January 15, 2009, TTM Technologies, Inc. ("TTM") announced its plan to close its Redmond, Washington facility and lay off approximately 370 employees at this site. TTM intends to transfer printed circuit board ("PCB") production from its Redmond facility to other company sites in California, Connecticut, Utah and Wisconsin.
In addition, TTM will lay off about 140 employees at various other U.S. facilities. The plant closure and headcount reductions are primarily due to the global economic downturn, which has weakened demand for commercial PCBs.
TTM will offer separation and other benefits to the affected employees. The company expects to record approximately $4.1 million in separation, asset impairment and disposal costs related to this restructuring primarily in the first quarter of 2009. In addition to transferring assets to other sites, the company also will sell some of the Redmond property, plant and equipment.
A copy of TTM's press release announcing the closure is attached hereto as Exhibit 99.1 and is incorporated by reference.



Item 9.01 Financial Statements and Exhibits
(d)    Exhibits

99.1   Press Release, dated January 15, 2009, entitled "TTM Technologies, Inc.
       Announces Closure of Redmond, Washington Facility"


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