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): May
24, 2006
|
STRATTEC
SECURITY CORPORATION
|
|
(Exact
name of registrant as specified in its
charter)
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Wisconsin
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(State
or other jurisdiction of
incorporation)
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0-25150
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39-1804239
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|
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(Commission
File Number)
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(I.R.S.
Employer I.D. Number)
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3333
West Good Hope Road
Milwaukee,
WI
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53209
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(Address
of Principal Executive Offices)
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(Zip
Code)
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414-247-3333
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(Registrant's
telephone number, including area code)
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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 (see
General
Instruction A.2. below):
o
Written
communications
pursuant to Rule 425 under the Securities Act
(17
CFR230.425)
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))
Section
5 - Corporate Governance and Management
Item
5.02 Departure
of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers
On
May
25, 2006, STRATTEC SECURITY CORPORATION (the "Company") issued a press release
announcing the appointment of David R. Zimmer ("Mr. Zimmer") as a director
of
the Company. A copy of the press release is attached as Exhibit 99.1 to this
report. Mr. Zimmer's appointment to the Company's Board of Directors was
effective on May 24, 2006. Mr. Zimmer shall serve until the 2006 annual meeting
of the Company's shareholders or until his prior death, resignation or
removal.
Section
9 - Financial Statements and Exhibits
Item
9.01 Financial
Statements and Exhibits
(c)
Exhibits
The
following
exhibit is filed herewith:
Exhibit 99.1
- Press Release of STRATTEC SECURITY CORPORATION, issued May 25,
2006.
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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.
STRATTEC
SECURITY CORPORATION
Date:
May
25, 2006
BY
/s/
Patrick J.
Hansen
Patrick
J. Hansen, Senior Vice President
and Chief Financial Officer
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EXHIBIT
99.1
FOR
RELEASE AT 3:00 PM CDT
Contact:
Pat Hansen
Senior
Vice President and
Chief
Financial Officer
414-247-3435
www.strattec.com
STRATTEC
SECURITY CORPORATION
ANNOUNCES
NEW BOARD MEMBER
Milwaukee,
Wisconsin - May 25, 2006 -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT) today
announced that its Board of Directors elected Mr. David R. Zimmer to the Board.
Mr. Zimmer’s election fills a vacant position on the Company’s five-member
Board, and increases the number of independent directors to four.
Mr.
Zimmer is Managing Director and co-founder of Stonebridge Business Partners,
a
provider of consulting services primarily to automotive-related manufacturing
businesses seeking to develop and implement Value Growth Plans, strategic
partnerships with companies in the growing markets of China and India, and
merger & acquisition advice. His thirty-plus year business career has
included positions of responsibilities in a number of companies. He was the
former president and CEO of Core Industries, Inc., New Venture Gear, Inc. and
Twitchell Corp. He was also Executive Vice President of United Dominion
Industries, Vice President and General Manager of Electronic Products for
Acustar, as well as Chief Financial Officer for Acustar. Earlier in his career
he held various financial positions at Chrysler Corporation and Ford Motor
Company, including responsibility for developing the internal turnaround
operating plan for Chrysler that was the basis for the U.S. Government loan
guarantees in the early 1980’s.
“Mr.
Zimmer’s exceptional experience in automotive and other manufacturing-based
industries, combined with his experience as a finance and management
professional will bring a new dimension and depth to our Board of Directors,”
commented Harold M. Stratton, the Company’s Chairman, President and Chief
Executive Officer. “I look forward to Dave’s participation with our other
outstanding directors in providing advice, counsel and governance to our
business.”
STRATTEC
designs, develops, manufacturers and markets mechanical locks and keys,
electronically enhanced locks and keys, steering column and instrument panel
ignition lock housings, latches and related access control products for North
American automotive customers, and for global automotive manufacturers through
the VAST Alliance in which it participates with WITTE Automotive of Velbert,
Germany and ADAC Plastics, Inc. of Grand Rapids, Michigan. The Company’s history
in the automotive business spans more than 95 years.
Certain
statements contained in this release contain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995. These
statements may be identified by the use of forward-looking words or phrases
such
as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,”
“potential,” “should,” “will,” and “would.” Such forward-looking statements in
this release are inherently subject to many uncertainties in the Company’s
operations and business environment. These uncertainties include general
economic conditions, in particular, relating to the automotive industry,
consumer demand for the Company’s and its customers’ products, competitive and
technological developments, customer purchasing actions, foreign currency
fluctuations, and costs of operations. Shareholders, potential investors and
other readers are urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue reliance on
such
forward-looking statements. The forward-looking statements made herein are
only
made as of the date of this press release and the Company undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances occurring after the date of this release.
In
addition, such uncertainties and other operational matters are discussed further
in the Company’s quarterly and annual filings with the Securities and Exchange
Commission.
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