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<SEC-DOCUMENT>0000950123-09-034468.txt : 20090813
<SEC-HEADER>0000950123-09-034468.hdr.sgml : 20090813
<ACCEPTANCE-DATETIME>20090813120026
ACCESSION NUMBER:		0000950123-09-034468
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090812
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090813
DATE AS OF CHANGE:		20090813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIFCO INDUSTRIES INC
		CENTRAL INDEX KEY:			0000090168
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT ENGINES & ENGINE PARTS [3724]
		IRS NUMBER:				340553950
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05978
		FILM NUMBER:		091009149

	BUSINESS ADDRESS:	
		STREET 1:		970 E 64TH ST
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44103
		BUSINESS PHONE:		2168818600

	MAIL ADDRESS:	
		STREET 1:		970 EAST 64TH STREET
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STEEL IMPROVEMENT & FORGE CO
		DATE OF NAME CHANGE:	19690520
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l37326e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<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<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported) </B><U><B>August&nbsp;12, 2009</B></U></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B style="border-bottom: 1px solid #000000">SIFCO Industries, Inc.</B>
</DIV>

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


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Ohio
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-5978
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">34-0553950</TD>
</TR>
<TR style="font-size: 1px">
    <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 of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">970 East 64th Street, Cleveland Ohio
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">44103</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(ZIP Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: <U>(216)&nbsp;881-8600</U></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">N.A.
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 0pt; width: 35%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
(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 (<I>see </I>General Instruction
A.2. below):
</DIV>

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


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;5 &#151; </B><U><B>Corporate Governance and Management</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jeffrey P. Gotschall will retire as President and Chief Executive Officer of SIFCO Industries, Inc.
(the &#147;Company&#148;), effective August&nbsp;31, 2009. Mr.&nbsp;Gotschall will continue to serve as Chairman of
the Board of Directors of the Company and will provide advisory support services to the Company
pursuant to a letter agreement dated August&nbsp;12, 2009. In connection with Mr.&nbsp;Gotschall&#146;s
retirement, on August&nbsp;12, 2009, the Board of Directors of the Company appointed Michael Lipscomb as
the Company&#146;s Interim President and Chief Executive Officer, effective August&nbsp;31, 2009. The
Company issued a press release announcing such retirement and appointment, which press release is
attached as an exhibit to this Report.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Section&nbsp;9 &#151; </B><U><B>Financial Statements and Exhibits</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;10.1. Letter Agreement with Jeffrey P. Gotschall, dated August&nbsp;12, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Exhibit&nbsp;99. Press release of SIFCO Industries, Inc., dated August&nbsp;13, 2009.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<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>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">SIFCO Industries, Inc.<BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: August 13, 2009&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Frank A. Cappello
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Frank A. Cappello&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Vice President &#151; Finance and<BR>
Chief Financial Officer<BR>
(Principal Financial Officer)&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>l37326exv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><U><B>Exhibit&nbsp;10.1</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">August&nbsp;12, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jeffrey P. Gotschall<BR>
Chairman of the Board and<BR>
Chief Executive Officer<BR>
SIFCO Industries, Inc.<BR>
970 East 64th Street<BR>
Cleveland, Ohio 44103

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: <U>Terms of Employment</U>
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This letter memorializes the terms of your continued employment with SIFCO Industries, Inc. (the
&#147;Company&#148;) following your retirement as Chief Executive Officer effective August&nbsp;31, 2009. We are
entering into this letter based on your request for retirement and our common recognition that the
Company will require your assistance in its executive succession to a new management team.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Employment Status and Term</U>. Following your resignation as Chief Executive
Officer, you will continue as an employee of the Company. You will also continue your
service as the non-executive Chairman of the Board of the Company, having such
responsibility and authority as normally accompanies such office, subject to the Company&#146;s
Regulations as currently constituted and to your election as a director by the Company&#146;s
shareholders. So long as you continue to satisfy any published director qualifications or
requirements, the Nominating Committee will consider your nomination to the Board for every
election until your 65th birthday. You shall be employed by the Company until your
65<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> birthday, unless earlier terminated for &#147;Cause&#148; (as defined below) in the
good faith determination by the Board (the &#147;Term&#148;). &#147;Cause&#148; shall mean an act or acts of
fraud or dishonesty by you intended to result in gain or personal enrichment to you at the
expense of the Company; unlawful conduct or gross misconduct that is materially injurious
to the Company or your conviction of, or plea of <I>nolo contendere </I>to, a felony or to a
misdemeanor involving fraud, dishonesty, or moral turpitude; or your engagement in a
material breach of your responsibilities to the Company that results in a material injury
to the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Responsibilities</U>. Your responsibilities will include advising the Board
regarding strategic and operational issues relating to the Company&#146;s business and
performing such other duties that the Board or the Interim CEO may request. Your
responsibilities also will include continued oversight of The SIFCO Foundation. We have
agreed that you will maintain your office at your home, but you shall be available to the
Board and the Interim CEO as needed by the Company. You will be reimbursed for reasonable
expenses necessary to maintain a home office, including but not limited to your cell phone,
office supplies and computer expenses.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Compensation</U>. You shall be entitled, in consideration of your services as an
employee of the Company, to an annual salary during the Term of $220,000, which shall be
payable in</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>accordance with the Company&#146;s normal payroll policies. You shall also be entitled to
participate in any health and welfare benefits (including, without limitation, life
insurance, medical insurance (including medical benefits reimbursement account), long term
disability and other benefits), as well as retirement benefits (such as 401(k) Plan,
including any company contributions) maintained, from time to time, by the Company on such
terms as are generally available to salaried employees of the Company. You shall not be
eligible to participate in any future incentive or bonus compensation plan maintained by the
Company; however, you will be eligible for your fiscal year 2009 bonus on the terms already
established, and your existing equity incentive awards will continue to vest in accordance
with their terms.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Confidentiality and Noncompetition</U>. During the Term and for a period of two
years following the term, you shall not directly or indirectly compete with the Company as
an owner, director, employee or consultant of any business that provides competitive or
similar products or services as the Company; provided that nothing herein shall preclude
you from owning the securities, representing less than 2% of the voting power, of any
publicly-traded company that may be competitive. You shall keep all nonpublic information
regarding the Company, its business and its customers confidential and you shall not use or
disclose such information, except in connection with your employment with the Company or
your service as a director; provided that the foregoing shall not apply to any information
that is (i)&nbsp;generally available to the public other than as a result of a disclosure by
you, or (ii)&nbsp;was or becomes available to you on a non-confidential basis from a source
other than the Company that is not bound by a confidentiality agreement with the Company or
otherwise prohibited from transmitting the information to you by a contractual, legal or
fiduciary obligation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Other Agreements and Arrangements</U>. This letter supersedes all other
employment, severance and change in control agreements between you and the Company.
Without limiting the generality of the foregoing, this agreement will terminate the Change
in Control Severance Agreement between you and the Company dated as of July&nbsp;30, 2002.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I am pleased that you have agreed to continue your employment with the Company during this period
of transition. As a duly authorized representative of the Company, the Company is pleased to
confirm our mutual agreement as set forth herein. Your continued service is vital to a successful
management transition and the continued success of the Company.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Sincerely,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ J. Douglas Whelan
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
J. Douglas Whelan
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Chair of Compensation Committee</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ACCEPTED AND AGREED TO<BR>
as of the date first above written:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jeffrey P. Gotschall
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Jeffrey P. Gotschall
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>l37326exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOR IMMEDIATE RELEASE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>CONTACT:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Frank A, Cappello<br>
Vice President &#151; Finance<br>
and Chief Financial Officer<br>
216-881-8600</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>SIFCO INDUSTRIES ANNOUNCES LEADERSHIP TRANSITION</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Jeffrey Gotschall to retire as CEO, continue as non-executive chairman</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Michael Lipscomb, former Argo-Tech Corporation CEO and SIFCO director, to become interim
CEO</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Company to shape strategy for &#145;very strong future&#146;</B></TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">CLEVELAND &#151; August&nbsp;13, 2009 &#151; SIFCO Industries, Inc. (NYSE Amex: SIF) (&#147;SIFCO or Company&#148;)
announced today the retirement of Jeffrey P. Gotschall as Chief Executive Officer (&#147;CEO&#148;) and the
appointment of Michael S. Lipscomb as interim CEO to assist the Company in shaping its future. The
leadership transition is effective August&nbsp;31, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;We plan to develop a strategy for SIFCO as strong and enduring as its past,&#148; said Lipscomb.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(In a separate release, on August&nbsp;12, 2009, the Company issued financial results for its fiscal
2009 third quarter, which ended June&nbsp;30, 2009.)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lipscomb is a former SIFCO director and previously served as Chairman and CEO of Argo-Tech
Corporation, a leading supplier to the aerospace industry. Gotschall will remain employed by SIFCO
and will serve as non-executive Chairman of the Board of Directors, where he will be available to
support the management team and head the SIFCO Foundation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lipscomb said he anticipates serving in the interim position for approximately 12 to 24&nbsp;months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;My top priority in the coming months will be to work with the Board and SIFCO&#146;s talented
management team to determine the best long-term strategy for its three businesses,&#148; he said. &#147;As
we crystallize the strategy for a very strong future, we will also identify the leadership
qualities that will be requisite in the next CEO who will drive that strategy forward.&#148; Reporting
to Lipscomb will be:
</DIV>


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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Frank Cappello, Vice President &#151; Finance and Chief Financial Officer</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>George Satava, General Manager of the SIFCO Applied Surface Concepts (ASC Group), its
surface enhancement business, as well as the SIFCO Turbine Component</TD>
</TR>

</TABLE>
</DIV>
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<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Services and Repair Group, its small aerospace turbine engine component repair business</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>James P. Woidke, General Manager of the Aerospace Component Manufacturing Group (ACM
Group), SIFCO&#146;s aerospace component forging business</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
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    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Wendy Worthington, Director of Human Resources</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lipscomb, 63, currently owns a small aerospace business in Cleveland and a liquid natural gas pump
manufacturing company in California. Previously, he led Argo-Tech Corporation through five bank
refinancing transactions and four high-yield bond offerings, and successfully managed the sale of
the company to Eaton Corporation in 2007. During his career, he has gained global industrial
operating experience as a co-founder of Argo-Tech Corporation and a managing director at TRW, as
well as in plant and engineering management roles at the Utica Tool Company. Lipscomb, who
received his MBA from Furman University and his B.S. from Clemson University, has served on the
boards of Altra Holdings, Argo-Tech Corporation, MAMCO Enterprises, Ruhlin Construction Company and
Duradyne, as well as SIFCO, where he was Audit Committee Chair.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gotschall, 61, has been Chairman of the Board of SIFCO since 2001 and CEO since 1990. He
previously served as SIFCO&#146;s CEO from 1986 to 1990, and from 1986 through 1989 as its Executive
Vice President. From 1985 through 1989, he served as President of SIFCO Turbine Component
Services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;I have chosen to retire as CEO at a time when SIFCO&#146;s future can be determined from a position of
strength,&#148; said Gotschall. &#147;Further, the timing of my decision allowed the unique opportunity to
bring the special expertise of Mike Lipscomb to our organization in order to help with my
long-planned transition. I am extremely proud of what SIFCO has accomplished, including our
ability to respond positively to the many challenges and opportunities this decade has presented to
us. I look forward to supporting Mike and the SIFCO management team to chart a course for
continued success.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Alayne L. Reitman, lead outside director, said, &#147;We thank Jeff for his many contributions to SIFCO.
Over the past two decades, he has helped guide the Company&#146;s growth and position it for continued
success. At the same time, the Board has tremendous confidence in Mike Lipscomb&#146;s ability to
develop and begin to implement a growth strategy that takes full advantage of our strong financial
condition and flexibility, as well as the strength of our core businesses and related competencies,
even during a difficult economic period for the markets we serve. He has repeatedly demonstrated
success in leading businesses through strategic transitions.&#148;
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On January&nbsp;20, 2009, the Company announced its plan to explore strategic alternatives, including a
divestiture, for SIFCO Turbine Component Services and Repair Group, located in Minneapolis, Minn.,
for the purpose of enhancing shareholder value; that process has not yet concluded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">SIFCO&#146;s ACM Group, which represented $72.0&nbsp;million of the Company&#146;s $101.4&nbsp;million in net sales in
the fiscal year ended September&nbsp;30, 2008, manufactures forged components, primarily in various
steel and titanium alloys.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The ASC Group provides surface enhancement technologies principally related to selective
electrochemical finishing and anodizing, and had $15.1&nbsp;million in sales in fiscal 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company previously divested its large aerospace and industrial turbine engine component repair
businesses in fiscal 2006 and 2007, respectively.
</DIV>


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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain statements contained in this press release are &#147;forward-looking statements&#148; within the
meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to
financial results and plans for future business development activities, and are thus prospective.
Such forward-looking statements are subject to risks, uncertainties and other factors, which could
cause actual results to differ materially from future results expressed or implied by such
forward-looking statements. Potential risks and uncertainties include, but are not limited to,
economic conditions, challenges associated with any management transition, competition and other
uncertainties detailed from time to time in the Company&#146;s Securities and Exchange Commission
filings.
</DIV>



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