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): November 9,
2006
BRUNSWICK
CORPORATION
(Exact
Name of Registrant Specified in Charter)
|
Delaware
|
001-01043
|
36-0848180
|
||
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(State
or Other
Jurisdiction
of
Incorporation)
|
(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
|
1
N. Field Court
Lake
Forest, Illinois
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60045-4811
|
|
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(Address
of Principal Executive Offices)
|
(Zip
Code)
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Registrant’s
telephone number, including area code: (847) 735-4700
(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:
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[
]
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240, 14d-2(b))
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[
]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240, 13e-4(c))
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Item
2.05 Costs Associated with Exit or Disposal
Activities
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On
November 9, 2006, Brunswick Corporation (“Brunswick”) committed to a
restructuring plan to reduce costs and improve general operating efficiencies
through global work force reductions, the consolidation of certain boat
manufacturing facilities, sales offices and distribution warehouses, and
realignment of distribution for our bowling products business. Brunswick expects
to incur pre-tax charges for severance and facility consolidation and closure
costs in the range of approximately $25 to $28 million, of which approximately
80 percent will be incurred in the fourth quarter of 2006.
In
connection with these actions, Brunswick expects to incur cash severance charges
of approximately $11 million to $12 million, cash facility closure charges
of
approximately $2 million to $3 million and approximately $7 million of non-cash
asset impairment charges during the fourth quarter of 2006. The residual $5
million to $6 million of restructuring charges to be incurred in 2007 relate
to
cash expenditures for severance and the remaining facility closure
actions.
The
news
release announcing these actions is furnished as Exhibit 99.1 and incorporated
herein by reference.
Statements
made in this Current Report on Form 8-K that are forward-looking involve risks
and uncertainties and are indicated by words such as "estimates," "expects"
and
other similar words or phrases. These uncertainties include, but are not limited
to, the execution of the restructuring plan, economic conditions, product
demand, competitive products and pricing, availability of products, the
regulatory environment and other risks described in filings with the SEC such
as
Brunswick's most recent Forms 10-K and 10-Q.
Item
9.01 Financial Statements and Exhibits.
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(c)
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Exhibits.
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99.1
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News
Release dated November 9, 2006.
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2
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 hereunto
duly authorized.
| BRUNSWICK CORPORATION | ||
| |
|
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| Date: November 9, 2006 | By: | /s/ MARSCHALL I. SMITH |
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Marschall
I. Smith
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Vice
President, General Counsel and
Secretary
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3
EXHIBIT
INDEX
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Exhibit
No.
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Description
of Exhibit
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99.1
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News
Release dated November 9, 2006, of Brunswick Corporation, announcing
its
cost-reduction actions.
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4