-----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, UUAiJ6ZoCzgqonYAw1HGIXmelHeYu9flI9Ke13p1rKBxIVR4G5wCTpidjyaBOk0B ExkjdmIbA2ccfAASpnHFcg== 0000950131-02-000837.txt : 20020415 0000950131-02-000837.hdr.sgml : 20020415 ACCESSION NUMBER: 0000950131-02-000837 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20020307 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020311 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL STEEL CORP CENTRAL INDEX KEY: 0000070578 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 250687210 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00983 FILM NUMBER: 02571777 BUSINESS ADDRESS: STREET 1: 4100 EDISON LAKES PARKWAY CITY: MISHAWAKA STATE: IN ZIP: 46545-3440 BUSINESS PHONE: 2192737000 MAIL ADDRESS: STREET 1: 4100 EDISON LAKE PARKWAY CITY: MISHAWAKA STATE: IN ZIP: 46545-3440 8-K 1 d8k.txt FORM 8-K UNITED STATES 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): March 11, 2002 (March 7, 2002) NATIONAL STEEL CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 1-983 25-0687210 (Commission File Number) (IRS Employer Identification No.) 4100 Edison Lakes Parkway, Mishawaka, IN 46545-3440 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 574-273-7000 ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE National Steel Corporation issued press releases on March 7, 2002 and March 8, 2002 announcing the following actions: (1) Organizational appointments of Ronald J. Werhnyak as Senior Vice President, General Counsel & Secretary and Kirk A. Sobecki as Senior Vice President and Chief Financial Officer. (2) National Steel Corporation receives court approval of interim DIP financing, approval of first day motions and continued payment of employee wages and salaries. Copies of these press releases are attached hereto as Exhibit 99.1 and 99.2, respectively. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS Exhibit 99.1 Press release dated March 7, 2002. Exhibit 99.2 Press release dated March 8, 2002. SIGNATURE 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. NATIONAL STEEL CORPORATION Date: March 11, 2002 By: /s/ Kirk A. Sobecki ----------------------------------------------- Kirk A. Sobecki Senior Vice President and Chief Financial Officer EX-99.1 3 dex991.txt PRESS RELEASE DATED MARCH 7, 2002 Exhibit 99.1 [LOGO OF NATIONAL STEEL] - -------------------------------------------------------------------------------- National Steel Corporation 4100 Edison Lakes Parkway Mishawaka, IN 46545-3440 NEWS RELEASE - ------------ Media Contact: Ronald B. Freeman (574) 273-7559 Analyst and William E. McDonough Investor Contact: (574) 273-7414 NATIONAL STEEL PERSONNEL ANNOUNCEMENT Mishawaka, IN, March 7, 2002 - National Steel Corporation (NYSE: NS) today announced that the Board of Directors has confirmed the following Executive Officer appointments, effective March 1, 2002: . Ronald J. Werhnyak - Senior Vice President, General Counsel & Secretary . Kirk A. Sobecki - Senior Vice President and Chief Financial Officer Headquartered in Mishawaka, Indiana, National Steel Corporation is one of the nation's largest producers of carbon flat-rolled steel products, with annual shipments of approximately six million tons. National Steel employs approximately 8,300 employees. Please visit National Steel's website at www.nationalsteel.com for more information on the Company, its products and facilities. EX-99.2 4 dex992.txt PRESS RELEASE DATED MARCH 8, 2002 Exhibit 99.2 [LOGO OF NATIONAL STEEL] - -------------------------------------------------------------------------------- National Steel Corporation 4100 Edison Lakes Parkway Mishawaka, IN 46545-3440 NEWS RELEASE Media Contact: Anita-Marie Hill Terry Fahn (574) 273-7704 (310) 788-2850 For immediate release: National Steel Corporation Receives Court Approval Of Interim DIP Financing Approval of First Day Motions; Continued Payment of Employee Wages and Salaries Mishawaka, Indiana -- March 8, 2002 - National Steel Corporation, Inc., (NYSE:NS) announced today the court granted the Company approval to use up to $230 million of its $450 million debtor-in-possession (DIP) financing on an interim basis to continue operations, pay employees, and purchase goods and services going forward during the restructuring period. National Steel had previously reached an agreement in principle for its DIP financing with the existing senior secured bank group. The final hearing on the DIP financing has been set for April 2, 2002. The Company also confirmed it had received court approval to, among other things, pay pre-petition and post-petition employee wages and salaries during its voluntary restructuring under Chapter 11. As announced March 6, 2002, to reduce its debt and to restructure its operations and balance sheet and ensure sufficient liquidity to continue to grow its business, National Steel and its wholly owned subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code. National Steel Chairman and Chief Executive Officer Hisashi Tanaka said he was pleased with the court's approval of its "first-day" orders and interim DIP financing. "We fully anticipate that the combination of DIP financing and cash flow from our businesses will provide adequate funding for our post-petition supplier and employee obligations and business investments," said Mr. Tanaka. "Our customers have expressed their support of our action and pledged their commitment to us as a valued supplier. Similarly, our major vendors have expressed a willingness to continue to do business with us on normal terms going forward," Mr. Tanaka said. Employee wages and salaries will continue as before. All suppliers will be paid on normal terms for goods furnished and services provided after the filing date. The Chapter 11 petitions were filed in the U.S. Bankruptcy Court for the Northern District of Illinois in Chicago. More information about National Steel is available on the Internet at http://www.nationalsteel.com. About National Steel: Headquartered in Mishawaka, Indiana, National Steel Corporation is one of the nation's largest producers of carbon flat-rolled steel products, with annual shipments of approximately six million tons. National Steel employs approximately 8,400 employees. For more information about the company, its products and its facilities, please visit the National Steel's web site at www.nationalsteel.com. Safe harbor: All statements contained in this release, other than historical information, are forward-looking statements. A variety of factors, including factors affecting the steel industry generally, could cause business conditions and the Company's actual results and experience to differ materially from those expected by the Company or expressed in the Company's forward looking statements. Additional information concerning certain of these factors is available in the Company's Form 10-K for the year ended December 31, 2000 and its Form 10-Q for the quarter ended September 30, 2001. -----END PRIVACY-ENHANCED MESSAGE-----