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, 2003
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NOBLE INTERNATIONAL, LTD.
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(Exact name of registrant as specified in its charter)
Delaware 001-13581 38-3139487
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
28213 Van Dyke Avenue, Warren, MI 48093
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (586)751-5600
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(Former name or former address, if changed since last report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Noble Logistic Services, Inc.
On March 24, 2003, Noble International, Ltd. (the "Company"), through
its wholly owned subsidiaries, Noble Logistic Services, Inc. a Michigan
corporation and Noble Logistic Services, Inc. a California corporation
(collectively "NLS") completed the sale of all of its stock and assets
comprising its logistics business.
NLS was engaged in the same day dedicated delivery of supplies and
parts to a broad range of local and regional customers, including automobile
dealerships, pharmaceutical distributors, reprographic and other industries. NLS
maintained locations throughout the continental United States.
The aggregate consideration paid for the sale of the logistics group
(the "NLS Sale") consisted of $11,000,000.
The Company intends to utilize the proceeds from the sale to reduce the
amounts outstanding under its existing credit facility.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
2.1 Stock Purchase Agreement among SRS Texas Holdings, LLC and
Noble Logistic Services Holdings, Inc., Noble Logistic Services, Inc., and Noble
International, Ltd., dated March 21, 2003.
2.2 Asset Purchase Agreement among SRS California Operations,
LLC and Noble Logistic Services, Inc., a California corporation, Noble Logistic
Services, Inc., a Michigan corporation, and Noble International, Ltd., dated
March 21, 2003.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
NOBLE INTERNATIONAL, LTD.,
a Michigan corporation
(Registrant)
Date: April 4, 2003 By: /s/ Michael C. Azar
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Michael C. Azar,
Secretary and General Counsel
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX-2.1 Stock Purchase Agreement among SRS Texas Holdings, LLC and
Noble Logistic Services Holdings, Inc., Noble Logistic
Services, Inc., and Noble International, Ltd., dated
March 21, 2003.
EX-2.2 Asset Purchase Agreement among SRS California Operations,
LLC and Noble Logistic Services, Inc., a California
corporation, Central Transportation & Delivery, Inc., Noble
Logistic Services, Inc., a Michigan corporation, and Noble
International, Ltd., dated March 21, 2003.
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