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Form 8-K DYNAMIC MATERIALS CORP For: Dec 10

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December 11, 2015 8:01 AM EST



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): December 10, 2015
 
Dynamic Materials Corporation
(Exact Name of Registrant as Specified in its Charter)
 
Delaware
 
0-8328
 
84-0608431
(State or Other Jurisdiction of
Incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
5405 Spine Road

Boulder, Colorado  80301

(Address of Principal Executive Offices, Including Zip Code)
 
(303) 665-5700

(Registrant’s Telephone Number, Including Area Code)
 
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:
 
o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 7.01                                           Regulation FD Disclosure.

On December 10, 2015, officers of Dynamic Materials Corporation (the “Company”) during a meeting with investors stated annualized savings from the Company’s previously announced restructuring and cost-saving initiatives are expected to be between $8.0 million and $10.0 million, of which approximately one-third has been recognized in 2015. Key cost-saving initiatives during 2015 include the closure of an Edmonton-based production facility and the consolidation of eight North American distribution centers by the Company’s DynaEnergetics business, and the consolidation of European explosion welding operations by the Company’s NobelClad business. Management also indicated the Company’s employee headcount is down approximately 20%, including temporary employees, from the beginning of 2015.

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.
 
DYNAMIC MATERIALS CORPORATION
 
 
 
 
Dated: December 11, 2015
By:
/s/ Michael Kuta
 
 
Michael Kuta
 
 
Chief Financial Officer




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