Date: 8/19/2020 Form: 8-K - Current report
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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): August 18, 2020

MARINE PRODUCTS CORPORATION

(Exact name of registrant as specified in its charter)
_________________________

 

Delaware 1-16263 58-2572419
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)

(IRS Employer

Identification No.)

 

2801 Buford Highway NE, Suite 300, Atlanta, Georgia 30329
(Address of principal executive office) (zip code)

Registrant's telephone number, including area code: (404) 321-7910

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.10 par value   MPX   New York Stock Exchange

 

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):

 

¨ 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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 8.01 Other Events.

 

On August 18, 2020, Marine Products Corporation issued a press release titled, "Marine Products Corporation Announces the Passing of its Chairman of the Board, R. Randall Rollins, Sr.” The press release announced the passing of Mr. Rollins following an illness.

 

 

Item 9.01 Financial Statements and Exhibits.

 

(d)Exhibits.

 

Exhibit 99  -  Press Release dated August 18, 2020.

 

-2-

 

 

SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, Marine Products Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Marine Products Corporation
   
Date:  August 19, 2020 /s/ Ben M. Palmer  
  Ben M. Palmer
  Vice President and Chief Financial Officer

 

-3-

 

 

Exhibit 99

 

 

Marine Products Corporation Announces the Passing of its

Chairman of the Board, R. Randall Rollins, Sr.

 

ATLANTA, August 18, 2020 – With deep sadness, Marine Products Corporation (NYSE: MPX) announced today the passing of R. Randall Rollins, the Company’s Chairman of the Board, who died peacefully following a short illness on August 17, 2020 in the presence of his family. Mr. Rollins was 88 years old. Long-standing Board Member Henry B. Tippie, who serves as Lead Director, and Richard A. Hubbell, Chief Executive Officer and Board Member, will continue in their respective leadership roles until succession plans are announced.

 

“The Board of Directors, management and employees of Marine Products Corporation are saddened by Randall’s loss,” stated Richard A. Hubbell, Chief Executive Officer. “Randall’s relentless focus on quality, innovation and long-term success guided us over many years as we became one of the largest and most successful pleasure boat manufacturers in the United States.”

 

At the time of his death, R. Randall Rollins served as Chairman of the Board, a position he had held since 2001 when Marine Products Corporation was formed and its Chaparral Boats subsidiary was spun off into Marine Products from RPC, Inc. Randall has served as a member of the Boards for Emory University, SunTrust Banks, Inc., Berry College, Gold Kist, and The Lovett School. In addition to his responsibilities with Marine Products Corporation, at the time of his death, he was Chairman of the Board of Rollins, Inc. and RPC, Inc. He was also a member of the Boards of Dover Motorsports, Inc. and the Robert W. Woodruff Health Sciences Center Fund, Inc.

 

Marine Products Corporation (NYSE: MPX) is a leading manufacturer of fiberglass boats under three brand names: Chaparral, Robalo and Vortex. Chaparral’s sterndrive models include SSi and SSX, along with the Chaparral Surf Series. Chaparral’s outboard offerings include various models, such as OSX Luxury Sportboats, the 257 SSX, and SunCoast Sportdecks. Robalo builds an array of outboard sport fishing boats, which include center consoles, dual consoles and Cayman Bay Boat models. Chaparral also offers jet powered boats under the Vortex brand name.  The Company continues to diversify its product lines through product innovation.  With premium brands, a solid capital structure, and a strong independent dealer network, Marine Products Corporation is prepared to capitalize on opportunities to increase its market share and to generate superior financial performance to build long-term shareholder value.  For more information on Marine Products Corporation visit our website at MarineProductsCorp.com.

 

For information contact:

 

BEN M. PALMER

Chief Financial Officer

(404) 321-7910

irdept@marineproductscorp.com

 

JIM LANDERS

Vice President Corporate Services

(404) 321-2162

jlanders@marineproductscorp.com