secwatch.observer — SEC 8-K summary
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Issuer:     INSTEEL INDUSTRIES INC (IIIN)
CIK:        0000764401
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0001437749-24-035612
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 2.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Insteel Industries to close Warren, OH facility, cut 35 jobs, take $1.9M charge
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- Closing Warren, Ohio facility acquired via Engineered Wire Products purchase; moving manufacturing to other welded wire reinforcement plants.
- Up to 35 positions eliminated; operations expected to cease by end of November 2024.
- Restructuring charge of ~$1.9M includes $0.6M equipment relocation, $0.2M employee separation, $0.5M asset impairment, $0.6M other costs.
- Cash expenditures for charge expected in first quarter of fiscal 2024 and remainder of the fiscal year (per filing).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764401/000143774924035612/0001437749-24-035612-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764401/000143774924035612/iiin20241116_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-035612

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