-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Nz6c2hDNZKc7qdHqOh/9OdQs3eCi7CnEzCmO8yMF1xluWkaHH6DQnkirIVmPXuAM 0l7IQpBgqt9glcwOQnSqYA== 0000950117-97-001092.txt : 19970626 0000950117-97-001092.hdr.sgml : 19970626 ACCESSION NUMBER: 0000950117-97-001092 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970625 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970625 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WITCO CORP CENTRAL INDEX KEY: 0000107889 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 131870000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04654 FILM NUMBER: 97629478 BUSINESS ADDRESS: STREET 1: ONE AMERICAN WAY CITY: GREENWICH STATE: CT ZIP: 06831 BUSINESS PHONE: 2126053800 MAIL ADDRESS: STREET 1: ONE AMERICAN LANE CITY: GREENWICH STATE: CT ZIP: 06831 FORMER COMPANY: FORMER CONFORMED NAME: WITCO CHEMICAL CORP DATE OF NAME CHANGE: 19851117 FORMER COMPANY: FORMER CONFORMED NAME: WITCO CHEMICAL CO INC DATE OF NAME CHANGE: 19681203 8-K 1 WITCO CORPORATION 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 25, 1997 WITCO CORPORATION ---------------------------------------------- (Exact name of Registrant as Specified in its Charter) Delaware 1-4654 13-1870000 -------------------------------------------------------------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) One American Lane, Greenwich, Connecticut 06831 --------------------------------------------------------------- (Address of Principal Executive Officers) (Zip Code) (203) 552-2000 ------------------------------------------------------------ (Registrant's telephone number, including area code) Page 1 of 5 Exhibit Index is on Page 4 Item 5. Other Events As disclosed in the Quarterly Report on Form 10-Q of Witco Corporation (the "Company") for the quarter ended March 31, 1997, effective January 1, 1997, the Company realigned its business segments into four groups. The Company's net sales and operating income (loss) from continuing operations by industry segment for the quarters ended March 31, 1996, June 30, 1996, September 30, 1996 and December 31, 1996, respectively, and for the year ended December 31, 1996 have been reclassified to reflect such changes. Exhibit 99 hereto contains the net sales and operating income (loss) from continuing operations by industry segment of the Company and subsidiary companies for such periods. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits 99 Witco Corporation and Subsidiary Companies Net Sales and Operating Income (Loss) from Continuing Operations by Industry Segment. Page 2 of 5 Exhibit Index is on Page 4 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, hereunto duly authorized. WITCO CORPORATION /s/ Dustan E. McCoy ------------------------------------------ Name: Dustan E. McCoy Title: Senior Vice President, General Counsel and Corporate Secretary Dated: June 25, 1997 Page 3 of 5 Exhibit Index is on Page 4 EX-99 2 EXHIBIT 99 Exhibit Index Exhibit No. Exhibit Page No. - ---------- ------- -------- 99 Witco Corporation and Subsidiary Companies 5 Net Sales and Operating Income (Loss) from Continuing Operations by Industry Segment Page 4 of 5 Exhibit Index is on Page 4 Exhibit 99 The following is a summary of the Company's Net Sales and Operating Income (Loss) from Continuing Operations by industry segment:
(thousands of dollars) Three Months Ended Year Ended March 31, June 30, September 30, December 31, December 31, 1996 1996 1996 1996 1996 ------------ ------------ ------------ ------------ ------------ Net Sales Oleochemicals & Derivatives $ 109,834 $ 107,675 $ 109,145 $ 98,064 $ 424,718 Performance Chemicals 224,592 213,886 201,332 204,841 844,651 Polymer Chemicals 129,988 136,584 141,135 126,241 533,948 OrganoSilicones 112,930 113,313 110,437 111,249 447,929 Other (a) 12,081 - - - 12,081 ------------ ------------ ------------ ------------ ------------ Net Sales $ 589,425 $ 571,458 $ 562,049 $ 540,395 $2,263,327 ============ ============ ============ ============ ============ Operating Income (Loss) from Continuing Operations Oleochemicals & Derivatives $ 6,739 $ 7,793 $ 5,109 $ (14,600) $ 5,041 Performance Chemicals 21,804 16,813 13,863 (254,655) (202,175) Polymer Chemicals 15,135 13,488 15,076 (42,414) 1,285 OrganoSilicones 17,749 16,056 11,497 13,049 58,351 Corporate and Unallocated (2,163) (5,984) (6,294) (110,119) (124,560) ------------ ------------ ------------ ------------ ------------ Operating Income (Loss) from Continuing Operations 59,264 48,166 39,251 (408,739) (262,058) ------------ ------------ ------------ ------------ ------------ Other expense - net (973) (901) (931) (726) (3,531) Interest expense - net (15,201) (15,321) (15,695) (14,003) (60,220) ------------ ------------ ------------ ------------ ------------ Income (Loss) from Continuing Operations before Income $ 43,090 $ 31,944 $ 22,625 $ (423,468) $ (325,809) Taxes ============ ============ ============ ============ ============
- -------------------------------------------------------------------------------- The following table presents a reconciliation of year ended December 31, 1996 operating income (loss) from continuing operations on a segment basis detailing unusual or infrequently occurring items: - --------------------------------------------------------------------------------
Oleochemicals Performance Polymer Organo- Corporate & & Derivatives Chemicals Chemicals Silicones Unallocated Total ------------ ------------ ------------ ------------ ------------ ----------- Operating income (loss) from continuing operations $ 16,457 $ 69,217 $ 51,890 $ 58,351 $ (21,857) $ 174,058 Restructuring charge (10,724) (237,853) (43,178) - (53,375) (345,130) Other charges (692) (33,539) (7,427) - (49,328) (90,986) ------------ ------------ ------------ ------------ ------------ ----------- Operating income (loss) from continuing operations $ 5,041 $(202,175) $ 1,285 $ 58,351 $ (124,560) $(262,058) ============ ============ ============ ============ ============ =========== - --------------------------------------------------------------------------------------------------------------------
(a) Net sales related to Witco Israel, disposed of at the end of the first quarter 1996. Page 5 of 5 Exhibit Index is on Page 4 -----END PRIVACY-ENHANCED MESSAGE-----