This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Kimball International Announces Filing Of Form 10 Registration Statement For Spin-off Of Electronic Manufacturing Services Segment; New Company To Be Known As Kimball Electronics, Inc.

Stocks in this article: KBALB

Kimball International, Inc. (NASDAQ: KBALB), an Indiana-based manufacturer, today announced the progression of the Company’s planned spin-off of its Electronic Manufacturing Services (EMS) segment, with the filing of an initial Form 10 Registration Statement (“Form 10”) with the U.S. Securities and Exchange Commission.

Kimball International announced a plan in January to spin-off its EMS segment as an independent, publicly-traded company later this fall. The new company will be named Kimball Electronics, Inc., and will be headquartered in Jasper, Indiana, where its executive offices are currently located.

Today’s filing advances the strategic decision to separate into two independent companies, focused entirely on their particular markets. The Form 10 provides financial and operational details of Kimball Electronics, Inc. The completion of the spin-off is targeted to be effective later this calendar year.

Kimball International President and CEO, Jim Thyen, stated, “Our filing today marks another step in our journey toward the separation of our furniture and electronics segments, which represents a very exciting opportunity for enhancing shareowner value by creating two highly focused companies with significant growth potential.”

The completion of the spin-off is subject to certain customary conditions, including receipt of a legal opinion as to the tax-free nature of the spin-off, SEC and other regulatory approvals as may be required by applicable laws, as well as final approval by the Kimball International, Inc. Board of Directors.

Kimball International will continue to operate its furniture business under the Kimball brand names of Kimball Office, National Office Furniture and Kimball Hospitality. Kimball International plans to change its NASDAQ trading ticker symbol from KBALB to KBAL as of the effective date of the spin. Kimball Electronics expects to list its shares on the NASDAQ exchange using the ticker symbol KE.

About Kimball Electronics:

Kimball Electronics is a global contract electronic manufacturing services (EMS) company that specializes in durable electronics for the medical, automotive, industrial and public safety markets. Kimball Electronics is well recognized by customers and industry trade publications for its excellent quality, reliability and innovative service. Kimball Electronics has manufacturing operations in the U.S., Mexico, Thailand, Poland, and China. Kimball Electronics is a business unit of Kimball International, a publicly held company headquartered in Jasper, Indiana.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs