<SEC-DOCUMENT>0000950123-11-100822.txt : 20111129
<SEC-HEADER>0000950123-11-100822.hdr.sgml : 20111129
<ACCEPTANCE-DATETIME>20111129104921
ACCESSION NUMBER:		0000950123-11-100822
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20111129
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
FILED AS OF DATE:		20111129
DATE AS OF CHANGE:		20111129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SUPERCONDUCTOR CORP /DE/
		CENTRAL INDEX KEY:			0000880807
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORS & GENERATORS [3621]
		IRS NUMBER:				042959321
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19672
		FILM NUMBER:		111229987

	BUSINESS ADDRESS:	
		STREET 1:		SIXTY FOUR JACKSON ROAD
		CITY:			DEVENS
		STATE:			MA
		ZIP:			01434
		BUSINESS PHONE:		9788423000

	MAIL ADDRESS:	
		STREET 1:		SIXTY FOUR JACKSON ROAD
		CITY:			DEVENS
		STATE:			MA
		ZIP:			01434
</SEC-HEADER>
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<TYPE>8-K
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<DESCRIPTION>FORM 8-K
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
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<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 0pt"><B>Pursuant to Section&nbsp;13 or 15(d) of<BR>
The Securities Exchange Act of 1934</B>
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported):<BR>
November&nbsp;29, 2011</B>
</DIV>
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<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>American Superconductor Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-19672</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>04-2959321</B></TD>
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    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer</TD>
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    <TD align="center" valign="top">of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
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    <TD align="center" valign="top">64 Jackson Road <BR>
Devens, Massachusetts
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="BOTTOM">01434</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Registrant&#146;s telephone number, including area code <U><B>(978)&nbsp;842-3000</B></U></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Not Applicable<BR>

(Former name or former address, if changed since last report.)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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):</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</DIV>


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<!-- link1 "Item&nbsp;2.05. Costs Associated with Exit or Disposal Activities" -->
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;2.05. Costs Associated with Exit or Disposal Activities.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On November&nbsp;29, 2011, American Superconductor Corporation (the &#147;<U>Company</U>&#148;) informed affected
employees of the Company&#146;s plan to reduce its global workforce by more than 20%. These reductions,
collectively with all other reductions made by the Company since
March&nbsp;31, 2011, are expected to generate
annualized savings of more than $50&nbsp;million. The Company believes that these reductions will reduce
the Company&#146;s cash usage as it continues to work toward a return to profitability.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The workforce reduction takes effect immediately. The Company expects to incur a restructuring
charge of less than $3&nbsp;million for severance-related expenses in the fiscal quarter ending December
31, 2011.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward-Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any statements in this current report about future expectations, plans and prospects for the
Company, including without limitation our expectations regarding charges for severance-related
expenses and other statements containing the words &#147;believes,&#148; &#147;anticipates,&#148; &#147;plans,&#148; &#147;expects,&#148;
and similar expressions, constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. There are a number of important factors that could
materially impact the value of our common stock or cause actual results to differ materially from
those indicated by such forward-looking statements. Such factors include: a significant portion of
our revenues has been derived from Sinovel Wind Group Co. Ltd., (&#147;<U>Sinovel</U>&#148;), which has
stopped accepting scheduled deliveries and refused to pay amounts outstanding; the disruption in
our relationship with Sinovel has materially and adversely affected our business and results of
operations and if, as we expect, Sinovel continues to refuse to accept shipments from us, our
business and results of operations will be further materially and adversely affected; we may
require additional funding in the future and may be unable to raise capital when needed; we have a
history of operating losses, and we may incur additional losses in the future; our operating
results may fluctuate significantly from quarter to quarter and may fall below expectations in any
particular fiscal quarter; changes in exchange rates could adversely affect our results from
operations; we have identified material weaknesses in our internal control over financial reporting
and if we fail to remediate these weaknesses and maintain proper and effective internal controls
over financial reporting, our ability to produce accurate and timely financial statements could be
impaired and may lead investors and other users to lose confidence in our financial data; if we
fail to implement our business strategy successfully, our financial performance could be harmed; we
may not realize all of the sales expected from our backlog of orders and contracts; many of our
revenue opportunities are dependent upon subcontractors and other business collaborators; our
products face intense competition, which could limit our ability to acquire or retain customers;
our success is dependent upon attracting and retaining qualified personnel and our inability to do
so could significantly damage our business and prospects; we may acquire additional complementary
businesses or technologies, which may require us to incur substantial costs for which we may never
realize the anticipated benefits; our international operations are subject to risks that we do not
face in the United States, which could have an adverse effect on our operating results; we depend
on sales to customers in China, and global conditions could negatively affect our operating results
or limit our ability to expand our operations outside of China; changes in China&#146;s political,
social, regulatory and economic environment may affect our financial performance; many of our
customer relationships outside of the United States are, either directly or indirectly, with
governmental entities, and we could be adversely affected by violations of the United States
Foreign Corrupt Practices Act and similar worldwide anti-bribery laws outside the United States; we
rely upon third party suppliers for the components and subassemblies of many of our Wind and Grid
products, making us vulnerable to supply shortages and price fluctuations, which could harm our
business; we are becoming increasingly reliant on contracts that require the issuance of
performance bonds; problems with product quality or product performance may cause us to incur
warranty expenses and may damage our market reputation and prevent us from achieving increased
sales and market share; our success in addressing the wind energy market is dependent on the
manufacturers that license our designs; growth of
 the wind energy market depends largely on the
availability and size of government subsidies and economic incentives; there are a number of
technological challenges that must be successfully addressed before our superconductor products can
gain widespread commercial acceptance, and our inability to address such</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">technological challenges could adversely affect our ability to acquire customers for our products;
we have not manufactured our Amperium wire in commercial quantities, and a failure to manufacture
our Amperium wire in commercial quantities at acceptable cost and quality levels would
substantially limit our future revenue and profit potential; the commercial uses of superconductor
products are limited today, and a widespread commercial market for our products may not develop; we
have limited experience in marketing and selling our superconductor products and system-level
solutions, and our failure to effectively market and sell our products and solutions could lower
our revenue and cash flow; our contracts with the U.S. government are subject to audit,
modification or termination by the U.S. government and include certain other provisions in favor of
the government; the continued funding of such contracts remains subject to annual congressional
appropriation which, if not approved, could reduce our revenue and lower or eliminate our profit;
we may be unable to adequately prevent disclosure of trade secrets and other proprietary
information; we have filed a demand for arbitration and other lawsuits against Sinovel regarding
amounts we contend are due and owing and are in dispute; we cannot be certain as to the outcome of
the proceedings against Sinovel; we have been named as a party to purported stockholder class
actions and shareholder derivative complaints, and we may be named in additional litigation, all of
which will require significant management time and attention, result in significant legal expenses
and may result in an unfavorable outcome, which could have a material adverse effect on our
business, operating results and financial condition; our technology and products could infringe
intellectual property rights of others, which may require costly litigation and, if we are not
successful, could cause us to pay substantial damages and disrupt our business; our patents may not
provide meaningful protection for our technology, which could result in us losing some or all of
our market position; third parties have or may acquire patents that cover the materials, processes
and technologies we use or may use in the future to manufacture our Amperium products, and our
success depends on our ability to license such patents or other proprietary rights; and our common
stock has experienced, and may continue to experience, significant market price and volume
fluctuations, which may prevent our stockholders from selling our common stock at a profit and
could lead to costly litigation against us that could divert our management&#146;s attention. Reference
is made to many of these factors and others in the &#147;Risk Factors&#148; section of the Company&#146;s most
recent quarterly or annual report filed with the Securities and Exchange Commission. In addition,
any forward-looking statements included in this report represent the Company&#146;s expectations as of
the date of this report. While the Company anticipates that subsequent events and developments may
cause the Company&#146;s views to change, the Company specifically disclaims any obligation to update
these forward-looking statements. These forward-looking statements should not be relied upon as
representing the Company&#146;s views as of any date subsequent to the date of this report.</DIV>




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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 hereunto duly authorized.
</DIV>

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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="4" align="left"><U>AMERICAN SUPERCONDUCTOR CORPORATION</U><BR>
&nbsp;</TD>

</TR><TR>
    <TD align="left">Date: November 29, 2011&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David A. Henry
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David A. Henry&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left"><I>Senior Vice President and
Chief Financial Officer</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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