UNITED STATES
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) March 19, 2004
IONICS, INCORPORATED
(Exact name of registrant as specified in its charter)
Massachusetts 1-7211 04-2068530
(State of incorporation) (Commission File No.) (IRS Employer Identification No.)
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65 Grove Street, Watertown, Massachusetts
02472 (617) 926-2500
(Address of principal executive offices) (Zip Code) (Registrant's telephone number,
including area code)
Item 5. Other Events and Required FD Disclosure
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On March 19, 2004, Ionics, Incorporated issued a Press Release
announcing (i) the departure of William J. McMahon, Vice President,
Ultrapure Water Group; and (ii) the appointment of Lester B. Devitt as
Vice President, Sales and Marketing for the Water Systems Division.
Item. 7. Financial Statements and Exhibits
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Exhibit Number Description
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99 Press Release dated March 19, 2004 announcing (i)
the departure of William J. McMahon, Vice
President, Ultrapure Water Group; and (ii) the
appointment of Lester B. Devitt as Vice President,
Sales and Marketing for the Water Systems Division.
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 duly authorized.
IONICS, INCORPORATED
March 19, 2004 By: /s/Stephen Korn
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Name: Stephen Korn
Title: Vice President and General Counsel
EXHIBIT INDEX
Number Description Page Number
99 Press Release dated March 19, 2004 announcing (i) the departure 4
of William J. McMahon, Vice President, Ultrapure Water Group; and
(ii) the appointment of Lester B. Devitt as Vice President, Sales
and Marketing for the Water Systems Division.
EXHIBIT 99
Ionics, Incorporated Announces Restructuring-Related Personnel Changes
Watertown, MA, March 19, 2004 . . . Ionics, Incorporated (NYSE-ION) announced
today several personnel developments related to its ongoing restructuring
program.
William J. McMahon, the Company's Vice President, Ultrapure Water Group since
November 2000, will be leaving the Company as a result of the elimination of
that position. As disclosed in the Company's recent Form 10-K filing, the
Company is combining its Equipment Business Group, its Ultrapure Water Group and
its recently acquired Ecolochem Group, to form the new Water Systems Division.
The Water Systems Division is headed by Lyman B. Dickerson, President of
Ecolochem, Inc., who now holds the title of Vice President, Water Systems
Division.
The Company also announced the appointment of Lester B. Devitt as Vice
President, Sales and Marketing for the Water Systems Division, with
responsibility for all sales and marketing efforts for that Division in North
and South America. Mr. Devitt, who was trained as an engineer, has an extensive
background in sales management and program development, most recently at BEA
Systems and for over twelve years at Silicon Graphics, Inc. Earlier in his
career, Mr. Devitt worked as a sales engineer involved in the sale of equipment
to customers in the power and process industries, including the Company.
Douglas R. Brown, Ionics' President and Chief Executive Officer, commenting on
these personnel changes, noted, "We all wish Bill McMahon well in his future
endeavors. He served Ionics well as an effective leader of the Ultrapure Water
Group, and we appreciate the role he played in helping us restructure Ionics. We
also would like to welcome Les Devitt to our Water Systems Division. I am
confident that his demonstrated skills and ability in the sales and marketing
arena will prove valuable to the growth of our Company."
About Ionics, Inc.
Ionics is a global leader in water purification and wastewater treatment. The
Company has over 50 years of experience in the design, installation, operation
and maintenance of water and wastewater treatment systems and is a leading
provider of emergency and long-term water treatment services. More
membrane-based desalination systems have been designed and built by Ionics than
any other supplier worldwide. Ionics is also a leader in supplying
zero-liquid-discharge systems, in providing ultrapure water systems for the
power and microelectronics industries, and in the measurement and analysis of
water impurities. The Company also supplies Point-of-Use and Point-of-Entry
water treatment systems for commercial and residential applications. For more
information, visit www.ionics.com.
Safe-harbor statement under the Private Securities Litigation Reform Act of
1995: Forward-looking statements in this news release involve risk and
uncertainty. The statements contained in this release which are not historical
facts are forward-looking statements. Important factors, including risks
associated with the Company's recently announced restructuring program; risks
associated with the integration of the operations of the Ecolochem group with
those of the Company; overall economic conditions, demand for Company products,
raw material availability, availability of manufacturing capacity, technological
and product development risks, competitors' actions, and other factors described
in the Company's filings with the Securities and Exchange Commission could cause
actual results to differ materially.
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For more information, contact:
John F. Curtis
Vice President, Strategy and Operations, Treasurer
Ionics, Incorporated
Tel: (617) 673-4403
jcurtis@ionics.com