Business Context and Reporting Period
Company: Power Solutions International, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: February 28, 2012
Event: Entry into a Material Definitive Agreement (Industrial Building Lease).
Key Financial Metrics
This filing does not provide revenue, profit, cash flow, margin, debt, or liquidity figures. The report focuses exclusively on the execution of a lease agreement.
Material Changes and Agreement Details
On February 28, 2012, Power Great Lakes, Inc. (PGL), an indirect wholly-owned subsidiary of the Company, entered into a lease with Centerpoint Properties Trust for a facility located at 201 Mittel Drive, Wood Dale, Illinois.
- Property Use: Manufacturing and warehousing.
- Occupancy: PGL will occupy 100% of the building.
- Size: Approximately 261,000 square feet.
- Lease Term: March 1, 2012, through July 31, 2018.
- Renewal Option: One additional five-year period.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or specific risk factors beyond the standard qualification that the summary is subject to the complete text of the Lease Agreement (Exhibit 10.1). No unusual items or contingencies were disclosed in this report.
Investor Verification Checklist
- Review the full text of the Industrial Building Lease (Exhibit 10.1) for specific rent obligations, escalation clauses, and termination rights.
- Verify the impact of the new 261,000 square foot facility on the Company's future capital expenditures and operating costs.
- Confirm the strategic necessity of the expansion for manufacturing and warehousing capacity.