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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 ofOf the Securities Exchange Act of 1934

For the month of ~~August~~November, 2002

Commission File Number 333-8426 and 22-27934

Anchor Lamina Inc.

(Registrant’s name)

2590 Ouellette Avenue
Windsor, Ontario
Canada N8X 1L7

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F X x Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):~~___~~

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):~~___~~

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o No X x

If “Yes” is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-~~___~~__

Signatures

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, thereunto duly authorized.

		ANCHOR LAMINA INC
			ANCHOR LAMINA INC (registrant)
		(registrant)
Date:	January 8, 2003		By:	Jack C. Tough Jack C. Tough Vice President and Chief Financial Officer
Date:	November 26, 2002
		By: /s/ Jack C. Tough
		Jack C. Tough
		Vice President and Chief Financial Officer

Item List

1. Unaudited Consolidated Financial Statements for ~~Fourth~~First Quarter Ended ~~August 31~~ November 30, 2002.

TABLE OF CONTENTS

~~Report to Bondholders~~ CONSOLIDATED ~~STATEMENTS~~STATEMENT OF INCOME (LOSS) CONSOLIDATED STATEMENTS OF (DEFICIT) ~~RETAINED EARNINGS~~ CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF CASH FLOWS NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Report to Bondholders

For the ~~Fourth~~First Quarter Ended ~~August~~November 3130, 2002 ~~November~~January 268, ~~2002~~2003

~~Fourth~~Consolidated sales in the quarter ~~consolidated~~ended ~~sales~~November 30, 2002 were $3538.89 million, an ~~compared~~increase toof $324.7 million in from the ~~fourth~~first quarter sales of fiscal ~~2001~~2002 of $34.2 million. ~~Earnings~~First quarter fiscal 2003 earnings before interest, income taxes, depreciation and amortization ~~and non-recurring costs~~ (EBITDA) were $45.6 million ~~for~~versus ~~the quarter, compared to~~ $4.1 6 million ~~reported~~ in the ~~fourth~~ first quarter last year.

OnThe ~~May~~net income for the quarter ended November 3130, ~~2001~~2002 ~~the~~was ~~majority~~$0.7 million, compared with a net loss of $1.4 million for the ~~operations~~first quarter last year. The improvement in ~~Europe~~operating ~~(operated~~results ~~under~~was due, in most part, to the following ~~corporate~~factors. ~~identity~~EBITDA ofimproved ~~EOC)~~in ~~were~~the ~~sold~~first toquarter Dof fiscal 2003 (after-~~M-E,~~tax aimpact of ~~subsidiary~~$0.6 million) over the first quarter of ~~Milacron~~fiscal ~~Inc~~2002. ofDue to the change in ~~Cincinnati,~~accounting ~~Ohio.~~treatment Atof ~~August 31~~goodwill detailed below, ~~2002~~depreciation ~~sale~~and ~~proceeds~~amortization expenses in the first quarter of fiscal 2003 were $71.30 million ~~are~~after-tax less ~~outstanding.~~than ~~Further~~the ~~information~~first onquarter ~~the~~of ~~sale~~fiscal is2002. ~~given~~Interest incosts ~~notes~~were 2$0.1 million after-tax ~~and~~lower 8in addition to ~~the consolidated~~a ~~financial~~reduced ~~statements.~~loss ~~Anchor~~on ~~Lamina~~foreign ~~Inc.~~exchange ~~maintains~~of ~~its~~$0.2 ~~operational~~million ~~presence~~after-tax in ~~Europe~~the ~~through~~first ~~its~~quarter ~~steel~~of ~~plate~~fiscal ~~and~~2003 ~~die~~compared ~~set~~to ~~facilities~~the first inquarter ~~Chemnitz,~~of ~~Germany~~fiscal 2002.

OnAt ~~November 12,~~the ~~2002~~beginning of the fiscal year 2003, the Company ~~finalized~~adopted anthe ~~agreement~~new ~~for~~pronouncement afrom ~~new~~the ~~credit~~Canadian ~~facility~~Institute of Chartered Accountants relating to the accounting treatment of goodwill and other intangible assets. As a result ~~Further~~of ~~information~~this onchange in accounting policy, the ~~new~~Company ~~credit~~recorded ~~facility~~a non-cash charge of $64.0 million to the capital deficit for the write-down of all of the carrying value of goodwill. Further information on goodwill is given in note 93 to the consolidated financial statements.

~~Net~~On ~~loss~~May 31, ~~for~~2001 the ~~quarter~~majority ~~ended~~of ~~August 31,~~the ~~2002~~operations ~~was~~in ~~$1.3 million,~~Europe ~~compared~~(operated ~~with~~under the corporate identity of EOC) were sold to D-M-E, a ~~net~~subsidiary ~~loss~~of Milacron Inc. of Cincinnati, $3Ohio.~~5 million~~ ~~for~~At ~~the~~November 30, ~~fourth~~2002 ~~quarter~~sale proceeds of ~~fiscal~~$7.4 million ~~2001~~were outstanding. ~~The~~Subsequent ~~reduced loss~~to ~~was~~the ~~due~~November 30, in2002 ~~most~~quarter ~~part~~end, tothe ~~improved~~Company ~~EBITDA~~and D-M-E inagreed ~~the~~to ~~fourth~~a ~~quarter~~settlement of ~~fiscal 2002~~the ~~(after-tax~~outstanding ~~impact~~sale ofproceeds. The Company received $07.43 million), asubsequent ~~reduced~~to ~~loss~~the onNovember 30, ~~disposal~~2002 ofquarter ~~capital~~end as final ~~assets~~payment inof the ~~fourth~~outstanding ~~quarter~~sale ofproceeds. ~~fiscal~~Further ~~2002~~information ~~($1.2 million~~on ~~after-tax~~the ~~impact),~~sale is ~~lower~~given ~~interest~~in ~~costs~~notes ~~($0.3 million~~2 ~~after-tax~~and ~~impact)~~7 ~~and~~to the ~~absence~~consolidated ~~of reorganization,~~financial ~~plant~~statements. ~~closure~~Anchor ~~and~~Lamina Inc. ~~related~~maintains ~~environmental~~its ~~costs~~operational presence in ~~the~~Europe ~~current~~through its steel plate and ~~quarter~~die ~~(after-tax~~set ~~impact~~facilities ofin $1Chemnitz, Germany.~~5 million).~~

~~Sales~~On ~~for the fiscal year ended August~~November 3112, 2002 ~~were~~the ~~$137.2 million,~~Company ~~compared with~~finalized ~~$168.6 million~~an agreement for ~~fiscal~~a ~~2001.~~new ~~Fiscal 2002 consolidated EBITDA was $17.4~~credit ~~million versus $17~~facility.~~9 million~~ inFurther ~~fiscal~~information ~~2001.~~on ~~Removing~~ the ~~results~~new ofcredit ~~the~~facility ~~sold operations~~is ofgiven ~~EOC~~in ~~from~~note ~~fiscal~~6 ~~2001, sales would have been $130.9 million and~~to ~~EBITDA $15.8 million for~~ the ~~twelve~~consolidated ~~months~~financial ~~ended August 31, 2001~~statements.

~~The~~Subsequent ~~net~~to ~~loss for~~ the ~~year ended August~~November 3130, 2002 ~~was~~quarter ~~$4.5 million~~end, ~~compared~~the ~~with a~~Company ~~net~~repurchased ~~loss of~~ US$62.5 1 million inprincipal ~~fiscal~~amount ~~2001.~~of ~~The significant contributors to~~ the ~~decrease~~ in9.875% ~~the~~Senior ~~net~~Subordinated ~~loss~~Notes ~~were~~due ~~the~~February 1, ~~reduction~~2008 in ~~2002~~the inopen ~~depreciation~~market, ~~and amortization~~for ~~expenses~~an ~~(having~~aggregate acost ~~net after-tax impact~~ of US$0.68 million),. ~~a gain~~As indetailed ~~2002 compared to a loss on disposal of capital assets~~ in ~~2001~~note ~~(having a net after-tax impact of $1.~~7 ~~million),~~ ~~reduced~~to ~~interest expense (after-tax impact of $1.8 million) and~~ the ~~absence~~consolidated offinancial ~~reorganization~~statements, ~~plant~~these ~~closure and related~~repurchases ~~environmental~~will ~~costs~~result in ~~fiscal~~a ~~2002 (after~~pre-tax ~~impact~~gain ofin ~~$2.5 million) compared to~~ the ~~year~~second ~~ended~~quarter ~~August 31,~~of ~~2001.~~fiscal ~~Partially~~2003 ~~offsetting these factors was the after-tax gain~~ of C$32.3 0 million, net of the write-off of ~~associated~~related deferred ~~charges,~~ onfinance ~~the repurchase of US$ 6~~fees.~~6 million principal amount of the~~ ~~subordinated notes payable reported in fiscal 2001. The favorable after-tax~~ ~~items were further offset by the effect of non-deductible items for tax~~ ~~purposes in fiscal 2002 compared to fiscal 2001 having an after-tax impact of~~ ~~$0.8 million.~~

OnCertain ~~September 1,~~statements ~~2002,~~contained atin this report may be construed as “forward—looking” statements within the ~~beginning~~meaning of the ~~fiscal~~United ~~year~~States ~~2003,~~federal securities ~~the~~laws ~~Company will~~and ~~adopt~~are made in reliance upon the ~~new~~safe ~~pronouncement~~harbor ~~from~~provisions of the Private ~~Canadian~~Securities ~~Institute~~Litigation Reform Act of ~~Chartered~~1995. Investors are cautioned ~~Accountants~~that ~~relating~~such tostatements ~~the~~are ~~accounting~~only ~~treatment~~predictions and speak only as of ~~goodwill~~the ~~and~~date ~~other intangible~~of ~~assets~~this report. ~~The~~No ~~Company~~assurances ~~expects~~can ~~this~~be ~~change~~given inthat ~~accounting~~actual ~~policy~~results will not differ ~~result~~materially from those projected in the ~~write~~forward-~~down~~looking ofstatements ~~all~~contained ofin this ~~the $64~~report.~~0 million~~ ~~carrying~~Actual ~~value~~results ~~of goodwill.~~may ~~Further~~also ~~information~~differ onmaterially ~~goodwill~~due isto ~~given~~risks inand uncertainties ~~note~~which 3are todescribed in the Company’s Registration Statement on ~~consolidated~~Form 20-F, ~~financial~~as ~~statements~~filed with the Securities and Exchange Commission on February 25, 2002.

Certain statements contained in this report may be construed as “forward–looking” statements within the meaning of the United States federal securities laws and are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such statements are only predictions and speak only as of the date of this report. No assurances can be given that actual results will not differ materially from those projected in the forward-looking statements contained in this report. Actual results may also differ materially due to risks and uncertainties which are described in the Company’s Registration Statement on Form 20-F, as filed with the Securities and Exchange Commission on February 25, 2002.

ANCHOR LAMINA INC. CONSOLIDATED ~~STATEMENTS~~STATEMENT OF INCOME (LOSS) (In Thousands of Canadian Dollars)

	Three Months Ended	~~Three Months Ended~~							~~Twelve Months Ended~~
		Aug 31,							Aug 31,
	November 30,
	2002	~~2002~~			2001	~~2001~~			~~2002~~			~~2001~~
SALES		$	35,764				32,651			137,234			168,574
					(restated)
Cost of goods sold			25,020				23,746			97,680			122,037
SALES	$	38,880				34,193
GROSS PROFIT			10,744				8,905			39,554			46,537
Cost of goods sold		27,406				24,273
Selling and administrative expenses			6,097				4,851			22,174			28,634
GROSS PROFIT		11,474				9,920
OPERATING EARNINGS BEFORE THE FOLLOWING			4,647				4,054			17,380			17,903
Selling and administrative expenses		5,862				5,341
Depreciation and amortization			2,542				2,340			11,955			12,790
OPERATING EARNINGS BEFORE THE FOLLOWING		5,612				4,579
Loss (gain) on disposal of capital assets (note 4)			367				1,844			(997	)		1,530
Depreciation and amortization		2,041				3,053
Interest on long-term debt			2,037				2,454			8,939			11,189
Loss on disposal of capital assets		10				—
Other interest			614				687			1,775			2,177
Interest on long-term debt		2,238				2,313
Reorganization expenses (note 5)			—				585			—			1,978
Other interest		333				443
Plant closure and related environmental expenses (note 6)			—				1,694			—			1,694
Loss on foreign exchange (note 4)		76				331
Gain on early extinguishment of debt (note 7)			—				—			—			(5,455	)
Loss on sale of European operations (note 2)		—				29
Write-off of deferred finance fees (note 7)			—				—			—			278
		4,698				6,169
Write-off of deferred exchange asset (note 7)			—				—			—			97
INCOME (LOSS) BEFORE INCOME TAXES		914				(1,590	)
Loss (gain) on foreign exchange — intercompany debt			(46	)			(78	)		136			(382	)
INCOME TAXES		199				(215	)
Loss on sale of European operations (note 2)			66				—			155			389
NET INCOME (LOSS)	$	715				(1,375	)
			5,580				9,526			21,963			26,285
LOSS BEFORE INCOME TAXES			(933	)			(5,472	)		(4,583	)		(8,382	)
INCOME TAXES			409				(2,007	)		(81	)		(1,870	)
NET LOSS		$	(1,342	)			(3,465	)		(4,502	)		(6,512	)

(See accompanying notes)

ANCHOR LAMINA INC. CONSOLIDATED STATEMENTS OF (DEFICIT~~) RETAINED EARNINGS~~ (In Thousands of Canadian Dollars)

	Three Months Ended						~~Twelve Months Ended~~
	Aug 31,						Aug 31,
	November 30,
	2002			2001			~~2002~~			~~2001~~
(DEFICIT) RETAINED EARNINGS, BEGINNING OF PERIOD	$	(8,482	)		(1,857	)		(5,322	)		1,190
DEFICIT, BEGINNING OF YEAR, AS PREVIOUSLY REPORTED	$	(9,823	)		(5,322	)
Net loss		(1,342	)		(3,465	)		(4,502	)		(6,512	)
Change in accounting policy (note 3)		(64,012	)		—
DEFICIT, END OF PERIOD	$	(9,824	)		(5,322	)		(9,824	)		(5,322	)
Change in accounting policy (note 4)		(608	)		(710	)
DEFICIT, BEGINNING OF PERIOD AS RESTATED		(74,443	)		(6,032	)
Net income (loss)		715			(1,375	)
DEFICIT, END OF PERIOD	$	(73,728	)		(7,407	)

(See accompanying notes)

ANCHOR LAMINA INC.
CONSOLIDATED BALANCE SHEETS
(In Thousands of Canadian Dollars)

		August 31				August 31
			November 30				August 31
		~~2002~~	2002			~~2001~~	2002
CURRENT ASSETS
							(restated)
Accounts receivable		$	25,683				22,791
	CURRENT ASSETS
Loans receivable — sale of European operations (note 2)			7,252				4,134
	Accounts receivable		$	28,665				25,683
Loans receivable — shareholders			241				33
	Loans receivable — sale of European operations (note 2)			7,425				7,252
Inventories			15,444				16,252
	Loans receivable — shareholders			241				241
Prepaid expenses			971				1,035
	Inventories			15,124				15,444
			49,591				44,245
	Prepaid expenses			717				971
LOANS RECEIVABLE — SHAREHOLDERS			108				337
				52,172				49,591
LOANS RECEIVABLE — SALE OF EUROPEAN OPERATIONS (note 2)			—				2,878
	LOANS RECEIVABLE — SHAREHOLDERS			108				108
~~CAPITAL ASSETS~~	CAPITAL ASSETS		~~98,693~~	97,275			~~103,857~~	98,693
GOODWILL AND DEFERRED CHARGES (note 3)			66,881				71,055
	GOODWILL AND DEFERRED CHARGES (notes 3 and 4)			2,757				66,006
		$	~~215,273~~$	152,312			~~222,372~~	214,398
CURRENT LIABILITIES Bank indebtedness		$	14,905				17,740
	CURRENT LIABILITIES
Accounts payable			9,378				7,739
	Bank indebtedness		$	12,118				14,905
Accrued liabilities			8,063				8,005
	Accounts payable			9,879				9,378
Income taxes payable			797				745
	Accrued liabilities			10,471				8,063
Current portion of long-term debt			4,650				8,525
	Income taxes payable			932				797
			37,793				42,754
	Current portion of long-term debt			712				4,650
LONG-TERM DEBT			89,832				89,186
				34,112				37,793
FUTURE INCOME TAXES			639				1,140
	LONG-TERM DEBT			94,477				89,831
CONTINGENCIES (note 8)
	FUTURE INCOME TAXES			571				372
SHAREHOLDERS’ EQUITY Share capital			91,860				91,860
CONTINGENCIES (note 5)
Contributed surplus			1,665				1,665
	SHAREHOLDERS’ EQUITY
Deficit			(9,824	)			(5,322	)
	Share capital			91,860				91,860
Cumulative translation adjustments			3,308				1,089
	Contributed surplus			1,665				1,665
			87,009				89,292
	Deficit			(73,728	)			(10,431	)
		$	215,273				222,372
	Cumulative translation adjustments			3,355				3,308
				23,152				86,402
			$	152,312				214,398

(See accompanying notes)

ANCHOR LAMINA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands of Canadian Dollars)

		Three Months Ended						~~Twelve Months Ended~~
		Aug 31,						Aug 31,
		November 30,
		2002			2001			~~2002~~			~~2001~~
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE FOLLOWING ACTIVITIES:
					(restated)
OPERATING Net loss		$	(1,342	)		(3,465	)		(4,502	)		(6,512	)
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE FOLLOWING ACTIVITIES:
Adjustments for:
OPERATING
	Depreciation and amortization		2,542			2,340			11,955			12,790
Net income (loss)		$	715			(1,375	)
	Loss (gain) on disposal of capital assets		367			1,844			(997	)		1,530
Adjustments for:
	Write-down of assets (note 6)		—			306			—			306
	Depreciation and amortization		2,041			3,053
	Gain on early extinguishment of debt (note 7)		—			—			—			(5,455	)
	Loss on disposal of capital assets		10			—
	Write-off of deferred finance fees (note 7)		—			—			—			278
	Loss on sale of European operations (note 2)		—			29
	Write-off of deferred exchange asset (note 7)		—			—			—			97
	Long-term debt exchange expense (note 4)		93			346
	Loss on sale of European operations (note 2)		66			—			155			389
	Future income tax expense (recovery)		215			(253	)
	Future income taxes		332			(2,085	)		(479	)		(2,487	)
			3,074			1,800
			1,965			(1,060	)		6,132			936
Net change in non-cash working capital			377			1,402
Net change in non-cash working capital			(928	)		(2,233	)		(605	)		(4,376	)
			3,451			3,202
			1,037			(3,293	)		5,527			(3,440	)
INVESTING
INVESTING
Purchase of capital assets			(202	)		(487	)
Purchase of capital assets			(2,790	)		(161	)		(4,862	)		(5,083	)
Proceeds on disposal of capital assets			35			—
Proceeds on disposal of capital assets (note 4)			105			4			5,491			6,490
			(167	)		(487	)
Repayment of loans receivable — sale of European operations			—			—			719			—
FINANCING
Proceeds on sale of European operations (note 2)			—			—			—			26,331
Decrease in bank indebtedness			(2,787	)		(1,146	)
			(2,685	)		(157	)		1,348			27,738
Long-term debt incurred (note 6)			5,000			—
FINANCING
Repayment of long-term debt			(4,650	)		(1,569	)
Increase (decrease) in bank indebtedness			2,334			16,458			(2,835	)		5,028
Deferred financing fees			(847	)		—
Repayment of long-term debt			(521	)		(12,463	)		(3,875	)		(27,654	)
			(3,284	)		(2,715	)
Repurchase of share capital for cancellation			—			(545	)		—			(1,026	)
CHANGE IN CASH AND CASH EQUIVALENTS			—			—
Deferred financing fees			(165	)		—			(165	)		—
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			—			—
Employee share option advances			—			—			—			(646	)
CASH AND CASH EQUIVALENTS, END OF PERIOD		$	—			—
			1,648			3,450			(6,875	)		(24,298	)
CHANGE IN CASH AND CASH EQUIVALENTS			—			—			—			—
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			—			—			—			—
CASH AND CASH EQUIVALENTS, END OF PERIOD		$	—			—			—			—

(See accompanying notes)

ANCHOR LAMINA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In Thousands of Canadian Dollars)

(1) The consolidated interim financial statements have been prepared in accordance with Canadian generally accepted accounting principles and follow the same accounting policies and methods as were used in the August 31, ~~2001~~2002 annual financial statements., ~~Certain~~except offor the ~~fiscal~~changes ~~year~~in ~~2001~~accounting ~~figures~~policy ~~have~~outlined ~~been~~in ~~restated~~notes to3 ~~conform~~and ~~with the fiscal 2002 presentation~~4.

(2) Effective May 31, 2001 the Company sold its business interests and operations at Mahlberg and Ludenscheid, Germany, and its distribution interests in France and the Czech Republic. The purchaser was Milacron of Cincinnati, Ohio through its operating division D-M-E. The Company maintains ownership of the Chemnitz, Germany steel plate and die set facilities and operations. The purchase price was $33,288 (Euro 25,090) consisting of $26,331 (Euro 20,145) cash, loans receivable guaranteed by the purchaser of $719 (Euro 511) repaid January 1, 2002, and $3,~~127~~180 (Euro 2,045) due January 1, 2003 and a closing balance sheet estimated purchase price adjustment of $3,~~653~~713 (Euro 2,389) (See note 87). The Company used the cash proceeds to reduce debt. The operations sold had a book value of $28,543 (Euro 21,837). Transaction costs were $1,755 (Euro 1,297). Including a realized exchange loss of $3,035 (Euro 2,243) on related intercompany debt, the transaction resulted in a loss on sale of $389 (Euro 287) recorded in the year ended August 31, 2001. The additional loss on sale recorded in fiscal 2002 of $155 (Euro 108) related to professional fees. Interest accrues at 6% per annum on the loans receivable and 5% per annum on the closing balance sheet purchase price adjustment. At ~~August~~November 3130, 2002, loans receivable include $~~472~~532 (Euro ~~309~~ 342) of interest (2001 — $54108 (Euro 3877)).

(3) In September 2001, the Canadian Institute of Chartered Accountants (CICA) issued Handbook section 3062, Goodwill and Other Intangible Assets. Goodwill represents the excess of the purchase price paid over the fair value of net identifiable assets acquired. This pronouncement significantly changes the accounting for goodwill and isintangible assets and states that goodwill and indefinite lived intangible assets are no longer amortized onbut aare ~~straight-line~~reviewed ~~basis~~for impairment annually (or more frequently if impairment indicators arise). Separable intangible assets that are not deemed to have an indefinite life will continue to be amortized over 20their useful lives. The amortization provisions of the pronouncement apply to goodwill and intangible assets acquired prior to July ~~years~~1, 2001. Companies are required to adopt the pronouncement in their fiscal year beginning after January 1, 2002. The Company adopted CICA Handbook section 3062 on September 1, 2002. Upon adoption of this pronouncement, the Company ceased amortization of goodwill with a net carrying amount of $64,012 and annual amortization of approximately $4,344. Goodwill is written down when there has been a permanent impairment in the value of the ~~unamortized~~ goodwill. A permanent impairment in goodwill is determined by ~~comparison~~comparing the fair value of ~~the~~each ~~carrying~~reporting unit to the value of ~~unamortized~~ its other assets and goodwill. ~~with~~Based on management’s evaluation under the ~~undiscounted~~transitional ~~future~~impairment test in this new pronouncement, the Company has recorded a non-cash ~~flow~~charge ~~projection~~of $64,012 to write-off the net carrying amount of the ~~related~~Company’s ~~business~~goodwill in the first quarter of fiscal 2003. The impairment loss has been recognized as the effect of a change in accounting policy and charged to the September 1, 2002 deficit without restatement of comparative figures.

(4) In ~~September~~December 2001, the ~~Canadian Institute of Chartered Accountants (~~CICA~~) issued~~ amended Handbook section ~~3062~~1650, ~~Goodwill~~Foreign ~~and Other~~Currency ~~Intangible~~Translation, ~~Assets.~~to ~~This~~eliminate ~~pronouncement~~the ~~significantly~~requirement of ~~changes~~deferring ~~the~~and ~~accounting~~amortizing ~~for~~unrealized ~~goodwill~~translation gains and ~~intangible~~losses ~~assets~~on ~~and states~~foreign ~~that~~currency ~~goodwill~~denominated ~~and~~monetary ~~indefinite~~items ~~lived~~that ~~intangible~~have ~~assets~~a fixed ~~are~~or noascertainable ~~longer~~life ~~amortized~~extending ~~but~~beyond ~~are~~the ~~reviewed~~end ~~for~~of ~~impairment~~the ~~annually~~fiscal ~~(or more~~year ~~frequently~~following ifthe ~~impairment~~current ~~indicators~~reporting ~~arise)~~period. byThe ~~comparing~~amendment requires ~~the~~companies ~~fair~~to ~~value~~record ofexchange ~~each~~gains ~~reporting~~or ~~unit~~losses toin ~~the~~earnings ~~value~~in ofthe ~~its~~current ~~other~~reporting ~~assets~~ period and ~~goodwill.~~to ~~Separable~~separately ~~intangible~~disclose exchange ~~assets~~gains ~~that~~and ~~are~~losses. ~~not~~Any ~~deemed~~change necessary to ~~have~~apply anthe ~~indefinite~~new ~~life~~requirements ~~will~~is ~~continue~~required to be ~~amortized~~recognized ~~over their~~retroactively ~~useful~~and ~~lives.~~disclosed ~~The~~as ~~amortization~~a ~~provisions~~change ofin ~~the~~accounting ~~pronouncement~~policy ~~apply~~with torestatement ~~goodwill~~of ~~and~~comparative ~~intangible~~figures. ~~assets~~The ~~acquired~~Company ~~prior~~adopted tothe ~~July~~new requirements on September 1, ~~2001.~~ ~~Companies~~2002 ~~are~~and ~~required to adopt~~ the ~~pronouncement~~financial instatements ~~their~~of ~~fiscal~~prior ~~year~~periods ~~beginning~~have ~~after~~been ~~January 1,~~restated ~~2002.~~to ~~The~~reflect ~~Company~~the ~~will~~effects ~~adopt~~of ~~CICA~~this ~~Handbook~~change ~~section~~in ~~3062~~accounting ~~on September 1, 2002~~policy. Upon adoption of ~~this~~the ~~pronouncement~~new requirements, the Company ~~will~~ceased ~~cease~~ amortization of ~~goodwill~~the deferred ~~with~~foreign aexchange ~~net~~loss ~~carrying~~arising ~~amount~~from the translation of ~~$64,012~~U.S. ~~and~~denominated ~~annual~~subordinated ~~amortization~~notes ofpayable ~~approximately~~with a net book value of $4875 at August 31,~~344~~ 2002. ~~Based~~As ~~on management’s~~a ~~preliminary~~result ~~evaluation~~of ~~under~~adopting the ~~transitional~~change ~~impairment test~~ in ~~this~~accounting ~~new pronouncement~~policy, the ~~Company~~September 1, ~~expects to~~2002 ~~record~~deficit awas increased ~~non-cash~~by ~~charge~~$608 to($875 ~~write-off~~less ~~the~~future ~~net~~income ~~carrying~~taxes ~~amount~~ of ~~the~~$267) ~~Company’s~~and ~~goodwill~~the inSeptember 1, ~~the~~2001 ~~first~~deficit ~~quarter~~was ofincreased ~~fiscal~~by ~~2003.~~$710 ($1,021 ~~The~~less ~~impairment~~future ~~loss~~income ~~will~~taxes beof ~~recognized~~$311). asExchange ~~the~~expense ~~effect~~on oflong-term adebt ~~change~~included in ~~accounting~~the ~~policy~~Consolidated ~~and~~Statements ~~charged~~of ~~to September 1, 2002~~Income ~~retained~~(Loss) ~~earnings~~is ~~without~~$93 ~~restatement~~(2002 of— ~~comparative figures~~$346).

In December 2001, the CICA amended Handbook section 1650, Foreign Currency Translation, to eliminate the requirement of deferring and amortizing unrealized translation gains and losses on foreign currency denominated monetary items that have a fixed or ascertainable life extending beyond the end of the fiscal year following the current reporting period. The amendment requires companies to record exchange gains or losses in earnings in the current reporting period and to separately disclose exchange gains and losses. Companies are required to adopt the amended requirements in fiscal years beginning on or after January 1, 2002. Any change necessary to apply the new requirements is required to be recognized retroactively and disclosed as a change in accounting policy with restatement of comparative figures. The Company will adopt the new requirements on September 1, 2002. Upon adoption of the new requirements, the Company will cease amortization of the deferred foreign exchange loss arising from the translation of U.S. denominated subordinated notes payable with a net book value of $875 at August 31, 2002. As a result of adopting the change in accounting policy, September 1, 2002 retained earnings will be reduced by $608 ($875 less future income taxes of $267) and comparative figures will be restated accordingly.

ANCHOR LAMINA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(In Thousands of Canadian Dollars)

(~~4) On March 15, 2002 the land and buildings in Ludenscheid, Germany were sold for proceeds of $~~5~~,351 (Euro 3,794~~)~~, resulting~~ Contingencies ~~in a gain on sale of $1,402 (Euro 977) . The proceeds were initially used to pay down the Company’s revolving line of credit.~~ ~~In September and October, 2002 the Company repaid $3,851 of the term loan from the sale proceeds.~~

~~(5) During~~Certain ~~the~~metals ~~twelve~~and ~~months~~chemical ~~ended~~contamination ~~August 31,~~has ~~2001,~~been found at one of the Company’s ~~incurred~~former ~~reorganization~~die ~~costs~~set manufacturing facilities located in ~~connection~~Cheshire, Connecticut. The Company is proceeding with ~~reducing~~delineation testing that, together with current State and ~~staff~~Federal ~~levels~~regulations, atwill ~~all~~determine the nature and extent of ~~its~~any ~~locations~~required remediation of the site. ~~Expenses~~The Company has recorded a liability of $1,~~978~~958 ~~were~~(2001 ~~incurred~~— $2,097) to pay for ~~employee~~estimated ~~severance~~remediation costs and professional fees. The liability is based on reports from environmental consulting firms.

(6) During the year ended August 31, 2001, the Company expensed $1,388 for estimated remediation costs and professional fees for the removal of certain metals and chemical contamination at its Cheshire, Connecticut facility (See note 8). An additional provision for loss on disposal of the Cheshire land and building of $306 was recorded in 2001.

(7) During the year ended August 31, 2001, the Company repurchased $10,085 ($6,600 U.S.) of its subordinated notes payable for $4,630 ($3,023 U.S.). This resulted in a gain on early extinguishment of debt of $5,455. This gain is reduced by deferred financing fees of $278 incurred in connection with the original issuance of the repurchased notes that have been written off. This gain is also reduced by the deferred foreign exchange asset on the subordinated notes payable that has been written down by $97 to reflect the reduction in the outstanding balance of the subordinated notes payable.

(8) Contingencies

Certain metals and chemical contamination has been found at one of the Company’s former die set manufacturing facilities located in Cheshire, Connecticut. The Company is proceeding with delineation testing that, together with current State and Federal regulations, will determine the nature and extent of any required remediation of the site. The Company has recorded a liability of $1,958 (2001 — $2,097) to pay for estimated remediation costs and professional fees (note 6). The liability is based on reports from environmental consulting firms.

The Company has loans receivable from the sale of its European operations (note 2). The amounts outstanding from the sale are under dispute. Management believes that it has recorded the proper balances due under the legally binding sale agreement. However, management is unable to predict the outcome of this dispute and cannot reasonably estimate whether an allowance for uncollectible loans is required due to the current status of the dispute.

From time to time, as is common in the industry, the Company is the subject of litigation. In the opinion of management, any litigation outstanding, if successful, would not have a material impact on the financial statements.

(96) ~~Subsequent~~New ~~event — new~~ credit facility

On November 12, 2002, the Company refinanced ~~the~~its ~~existing bank~~ credit facility. The new credit facility ~~replaces the existing bank term loan and line of credit. The new credit facility~~ provides for borrowings in the aggregate amount of $50,000 and is composed of:

(a) A $30,000 revolving credit facility subject to a borrowing base of allowable accounts receivable and inventories maturing on November 14, 2005.

(b) Term loans of $20,000, $5,000 drawn immediately and $15,000 available for certain restricted purposes. The term loans mature on November 14, 2005 with principal repayments commencing immediately based upon a seven year amortization.

(7) Subsequent events

In December 2002 the Company repurchased $3,308 ($2,100 U.S.) of its subordinated notes payable for $1,274 ($809 U.S.) A gain on early extinguishment of debt of approximately $2,034 will be recorded in the second quarter of fiscal 2003. This gain is reduced by deferred financing fees of $67 incurred in connection with the original issuance of the repurchased notes that have been written off.

The Company has loans receivable from the sale of its European operations (note 2). The amounts outstanding from the sale were under dispute. In December 2002, the Company and the purchaser of its European operations, D-M-E, agreed on a final settlement of the outstanding balance of the purchase price. The final settlement of the outstanding purchase price of $7,320 (Euro 4,568) has been received by the Company. A further loss on sale of the European operations of approximately $370 (Euro 238) will be recorded in the second quarter of fiscal 2003.

ANCHOR LAMINA INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(In Thousands of Canadian Dollars)

(108) The Company conducts its operations through three principal operating segments: North American Die Set, Lamina Components, and Anchor Lamina GmbH in Europe. The following tables set forth information about segment revenue and earnings before interest, taxes, depreciation and amortization (EBITDA).

Three months ended August 31, 2002

Three months ended November 30, 2002

North American

Lamina

European

Inter-Segment

Die Set

Components

Segment

Eliminations

Total

Revenue from external customers

2527,~~280~~399

1011,~~669~~259

23,~~713~~305

(23,~~898~~083

)

3538,~~764~~880

Segment EBITDA

23,~~791~~414

1,~~801~~640

55558

45,~~647~~612

Three months ended August 31, 2001

Three months ended November 30, 2001

North American

Lamina

European

Inter-Segment

Die Set

Components

Segment

Eliminations

Total

Revenue from external customers

2122,~~988~~632

11,~~428~~557

2,~~199~~595

(2,~~964~~591

)

3234,~~651~~193

Segment EBITDA

12,~~700~~216

12,~~957~~014

~~397~~349

4,~~054~~579

	Twelve months ended August 31, 2002
	North American		Lamina		European		Inter-Segment
	Die Set		Components		Segment		Eliminations			Total
Revenue from external customers	$	92,660	$	44,923	$	10,411	$	(10,760	)	$	137,234
Segment EBITDA		9,291		7,027		1,062					17,380

	Twelve months ended August 31, 2001
	North American		Lamina		European		Inter-Segment
	Die Set		Components		Segment		Eliminations			Total
Revenue from external customers	$	85,976	$	47,467	$	46,736	$	(11,605	)	$	168,574
Segment EBITDA		7,357		7,113		3,433					17,903

Reconciliation of total reportable operating segment EBITDA to the Company’s consolidated loss before income taxes is as follows:

	Three Months Ended						~~Twelve Months Ended~~
	August 31,						August 31,
	November 30,
	2002			2001			~~2002~~			~~2001~~
Total EBITDA for reportable segments	$	4,647		$	4,054		$	17,380		$	17,903
				(restated)
Depreciation and amortization		(2,542	)		(2,340	)		(11,955	)		(12,790	)
Total EBITDA for reportable segments	$	5,612		$	4,579
(Loss) gain on disposal of capital assets		(367	)		(1,844	)		997			(1,530	)
Depreciation and amortization		(2,041	)		(3,053	)
Interest on long term debt		(2,037	)		(2,454	)		(8,939	)		(11,189	)
Loss on disposal of capital assets		(10	)		—
Other interest		(614	)		(687	)		(1,775	)		(2,177	)
Interest on long term debt		(2,238	)		(2,313	)
Reorganization expenses (note 6)		—			(585	)		—			(1,978	)
Other interest		(333	)		(443	)
Plant closure and related environmental expenses (note 5)		—			(1,694	)		—			(1,694	)
Loss on foreign exchange		(76	)		(331	)
Gain on early extinguishment of debt (note 7)		—			—			—			5,455
Loss on sale of European operations (note 2)		—			(29	)
Write-off of deferred finance fees (note 7)		—			—			—			(278	)
Total consolidated income (loss) before income taxes	$	914		$	(1,590	)
Write-off of deferred exchange asset (note 7)		—			—			—			(97	)
(Loss) gain on foreign exchange — intercompany balances		46			78			(136	)		382
Loss on sale of European operations (note 2)		(66	)		—			(155	)		(389	)
Total consolidated loss before income taxes	$	(933	)	$	(5,472	)	$	(4,583	)	$	(8,382	)

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Filing Compare · ANCHOR LAMINA INC