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SHLO > SEC Filings for SHLO > Form 8-K on 22-May-2014All Recent SEC Filings

Show all filings for SHILOH INDUSTRIES INC



Entry into a Material Definitive Agreement, Results of Operations and Finan

Item 1.01. Entry into a Material Definitive Agreement.

On May 21, 2014, Shiloh Holdings Sweden AB, a wholly-owned subsidiary of Shiloh Industries, Inc. (the "Subsidiary"), entered into a Share Sale and Purchase Agreement (the "Agreement") with Finnveden Bulten AB (publ.) and Finnveden AB ("Finnveden"), a wholly-owned subsidiary of Finnveden Bulten AB (publ.), pursuant to which the Subsidiary will purchase all of the issued and outstanding shares of Finnveden Metal Structures AB from Finnveden at a purchase price of SEK 372,300,000 (approximately $56,600,000 USD based on a SEK to USD foreign currency exchange rate in effect as of May 21, 2014) plus the assumption of indebtedness in the amount of SEK 118,200,000 ($17,960,000 USD), as adjusted for certain transfers of value, employee bonus payments and transaction expenses, plus accrued interest at a rate of 2% per annum from March 31, 2014 until the closing date of the transaction.

The obligation of the parties to consummate the transactions contemplated by the Agreement is subject to customary conditions, the accuracy of the other party's representations and warranties (subject to certain materiality qualifiers), and material compliance by the other party with its covenants under the Agreement.

Item 2.02. Results of Operations and Financial Condition.

On May 22, 2014, Shiloh Industries, Inc. (the "Company") issued a press release announcing its operating results for the second quarter ended April 30, 2014. A copy of the press release is attached as Exhibit 99.1 to this Report.

The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof. The information in this report, including the exhibit hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

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