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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): March 24, 2005
__________________
Sypris Solutions, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-24020 61-1321992
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
101 Bullitt Lane, Suite 450
Louisville, Kentucky 40222
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code: (502) 329-2000
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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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers.
On March 24, 2005, Sypris Solutions, Inc. (the "Company") announced
that its Vice President and Chief Financial Officer, David D.
Johnson, has expressed his intention to leave the Company effective
May 13, 2005 to become the Chief Financial Officer of Molex
Incorporated (NASDAQ: MOLX and MOLXA), a global electronic
components company based in Lisle, Illinois. The Company also
announced that Anthony C. Allen, 46, Vice President, Treasurer and
Assistant Secretary of the Company, will be appointed acting Chief
Financial Officer effective May 13, 2005. Mr. Allen has served as
Vice President, Treasurer and Assistant Secretary of the Company
since December 2004 and as Vice President of Finance and
Information Systems and Assistant Secretary of the Company from
2003 to December 2004. Mr. Allen served as Vice President,
Controller and Assistant Secretary of the Company from 1997 to
2003. The full text of the press release is set forth in Exhibit 99
hereto.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Exhibit Number Description of Exhibit
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99 Press release issued March 24, 2005.
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 hereunto duly authorized.
Dated: March 24, 2005 Sypris Solutions, Inc.
By: /s/ David D. Johnson
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David D. Johnson
Vice President and Chief Financial Officer
INDEX TO EXHIBITS
Exhibit
Number Description
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99 Registrant's press release dated March 24, 2005.
Exhibit 99
Sypris Chief Financial Officer to Leave Company;
Intends to Join Molex Incorporated as CFO
LOUISVILLE, Ky.--(BUSINESS WIRE)--March 24, 2005--Sypris
Solutions, Inc. (NASDAQ:SYPR) announced today that its Vice President
and Chief Financial Officer, David D. Johnson, has expressed his
intention to leave the Company to become the Chief Financial Officer
of Molex Incorporated (NASDAQ:MOLX) (NASDAQ:MOLXA), a global
electronic components company based in Lisle, Illinois. Mr. Johnson,
who has served as the CFO of Sypris since March 1998, will resign
effective May 13, 2005 and Anthony C. Allen, Vice President and
Treasurer, will be appointed acting CFO at that time. The process for
identifying a permanent replacement has been initiated.
Commenting on the announcement, Jeffrey T. Gill, President and
Chief Executive Officer of Sypris Solutions, said, "I wish to thank
Dave for his dedication and service to Sypris and his many
contributions to the growth and success of our business over the last
nine years. He has built a strong finance and accounting team and
significantly enhanced the company's processes and disciplines. We
wish Dave the best of luck as he moves on to his new challenge with
Molex."
David D. Johnson said, "The decision to leave Sypris was very
difficult since I found the opportunity to work with such an
outstanding management team to be extremely rewarding. Though I will
miss the dedicated employees of Sypris and the challenge of building a
first class company, I did not feel that I could pass up the
opportunity to join a global company with the size and strength of
Molex."
Sypris Solutions is a diversified provider of technology-based
outsourced services and specialty products. The Company performs a
wide range of manufacturing and technical services, typically under
multi-year, sole-source contracts with major corporations and
government agencies in the markets for aerospace and defense
electronics, truck components and assemblies, and for users of test
and measurement equipment. For more information about Sypris
Solutions, visit its Web site at www.sypris.com.
CONTACT: Sypris Solutions, Inc.
David D. Johnson, 502-329-2000