ITEM 2 - Properties
The Company’s corporate offices are owned by the company and are located in the Minneapolis, Minnesota metropolitan area. Manufacturing facilities are located in Minnesota, Michigan, Germany and The Netherlands. The Company has announced its plans to close the Waldhausen, Germany, manufacturing operation and transfer the related production to a contract manufacturer in the Czech Republic in 2001. Sales offices, warehouse and storage facilities are leased in various locations in North America, Europe, Japan, and Australia. The Company’s facilities are in good operating condition, suitable for their respective uses and adequate for current needs. Further information regarding the Company’s property and lease commitments is included on pages 20 and 23 of the 2000 Annual Report to Shareholders Notes to Consolidated Financial Statements.
ITEM 3
ITEM 3 - Legal Proceedings
There are no material pending legal proceedings other than ordinary routine litigation incidental to the Company’s business.
ITEM 4
ITEM 4 - Submission of Matters to a Vote of Security Holders
Not applicable.
Executive Officers of the Registrant
Richard M. Adams, Vice President
Richard M. Adams (53) joined the Company in 1974. He was elected Assistant Controller in 1983 and was named Corporate Controller in 1986. Mr. Adams was named Vice President, Global Accounts in 1993 and Vice President, New Business Development in 1999. Mr. Adams is a Certified Public Accountant. Mr. Adams is a director of Tennant UK Limited, Tennant Holding B.V., Tennant Europe B.V., and Tennant Import B.V.
Anthony T. Brausen, Vice President, Chief Financial Officer and Treasurer
Anthony T. Brausen (41) joined the Company in March 2000 as Vice President and Chief Financial Officer. He was named also as Treasurer in February 2001. Mr. Brausen is a director of Tennant N.V., Tennant Sales and Service Company, Tennant Finance Company, and Tennant Sales and Service Finance Company.
Janet M. Dolan, President and Chief Executive Officer
Janet M. Dolan (51) joined the Company in 1986. Ms. Dolan was appointed General Counsel and Secretary in 1987, Vice President in 1990, Senior Vice President in 1995, Executive Vice President in 1996, President and Chief Operating Officer and a director in 1998. Ms. Dolan was named Chief Executive Officer in 1999. She is a director of Tennant Sales and Service Company, Tennant Finance Company, and Tennant Sales and Service Finance Company. She is also director of Donaldson Company, Inc. and a member of the NYSE Listed Company Advisory Committee.
Thomas J. Dybsky, Vice President
Thomas J. Dybsky (51) joined the Company in 1998 as Vice President of Human Resources. Mr. Dybsky is a director of Tennant N.V.
James H. Moar, Chief Operating Officer
James H. Moar (52) joined the Company in 1998 as Senior Vice President of Industrial Markets. He was named Chief Operating Officer in 1999. Mr. Moar is a director of Tennant Sales and Service Company, Tennant Finance Company, and Tennant Sales and Service Finance Company.
Dean A. Niehus, Corporate Controller and Principal Accounting Officer
Dean A. Niehus (43) joined the Company in 1998. Mr. Niehus is a director of Tennant Company Far East Headquarters Pte Ltd.
Keith D. Payden, Vice President
Keith D. Payden (53) joined the Company in 1981. He was named Director, Information Services in 1987, Chief Information Officer in 1992, and Vice President in 1993.
James J. Seifert, Vice President, General Counsel and Secretary
James J. Seifert (44) joined the company in 1999 as Vice President , General Counsel and Secretary. Mr. Seifert is a director of Tennant UK Limited, Tennant Holding B.V., Tennant Europe B.V., Tennant, Import B.V., Tennant N.V., Tennant Sales and Service Company, Tennant Finance Company, and Tennant Sales and Service Finance Company.
Thomas J. Vander Bie, Senior Vice President
Thomas J. Vander Bie (49) was named Senior Vice President of Tennant Company in August 1999. From 1974-1999, Mr. Vander Bie was President of Castex Incorporated, which became a subsidiary of Tennant Company in 1994.
Steven K. Weeks, Vice President
Steven K. Weeks (45) joined the Company in 1984. He was named Manager, Global New Business and Marketing Development in 1993; Director of Marketing in 1994; Vice President, Customer Solutions in 1996; and Vice President, Global Marketing in 1999.
PART II
Part II is included in the Tennant Company 2000 Annual Report to Shareholders (to the extent specific pages are referred to on the Cross Reference Sheet) and is incorporated in this Form 10-K Annual Report by reference, except Item 9, “Changes in and Disagreements with Accountants on Accounting and Financial Disclosure,” of which there were none.
PART III
Part III is included in the Tennant Company 2001 Proxy (to the extent specific pages are referred to on the Cross Reference Sheet) and is incorporated in this Form 10-K Annual Report by reference, except Item 13 - "Certain Relationships and Related Transactions," of which there were none, and Item 10 - "Directors and Executive Officers of the Registrant" as it relates to executive officers. Identification of executive officers is included in Part I of this Form 10-K Annual Report.
PART IV
Item 14 - Exhibits, Financial Statement Schedule, and Reports on Form 8-K.
A. The following documents are filed as a part of this report:
1. Financial Statements
The following consolidated financial statements and independent auditors’ report are included on pages 14 through 29 of the Tennant Company 2000 Annual Report to Shareholders and are incorporated in this Form 10-K Annual Report by reference:
a.
Consolidated Statements of Earnings for each of the years in the three-year period ended December 31, 2000 - page 14.
b.
Consolidated Balance Sheets as of December 31, 2000 and 1999 - page 15.
c.
Consolidated Statements of Cash Flows for each of the years in the three-year period ended December 31, 2000 - page 16.
d.
Consolidated Statements of Shareholders’ Equity for each of the years in the three-year period ended December 31, 2000 - page 17.
e.
Independent Auditors’ Report of KPMG LLP - page 29.
f.
Notes to Consolidated Financial Statements - pages 18 through 28.
2. Financial Statement Schedules
Schedule II - Valuation and Qualifying Accounts
(Dollars in Thousands)
(1)
Accounts determined to be uncollectible and charged against reserve, net of collections on accounts previously charged against reserves.
All other schedules are omitted as the required information is inapplicable or because the required information is presented in the Consolidated Financial Statements in the Tennant Company 2000 Annual Report to Shareholders.
2. Exhibits
*Management contract or compensatory plan or arrangement required to be filed as an exhibit to this Form 10-K.
B. Reports on Form 8-K
There were no reports filed on Form 8-K the quarter ended December 31, 2000.
CROSS REFERENCE
Form 10-K
Referenced
Location
Part I, Item 1 - Business
Annual Report to Shareholders
a. General
b. Lines of business, industry segments and foreign and domestic operations
Exhibit 13.1
Inside front cover to page 9
Page 27, Footnote 17, Segment Reporting
Part I, Item 2 - Properties
Annual Report to Shareholders
Exhibit 13.1
Page 20, Footnote 4, Property, Plant, and Equipment
Page 23, Footnote 13, Leases
Inside back cover
Part II, Item 5