0000950123-11-039697.txt : 20110427 0000950123-11-039697.hdr.sgml : 20110427 20110427070208 ACCESSION NUMBER: 0000950123-11-039697 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110421 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110427 DATE AS OF CHANGE: 20110427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEWPARK RESOURCES INC CENTRAL INDEX KEY: 0000071829 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 721123385 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02960 FILM NUMBER: 11781667 BUSINESS ADDRESS: STREET 1: 2700 RESEARCH FOREST DRIVE STREET 2: SUITE 100 CITY: THE WOODLANDS STATE: TX ZIP: 77381 BUSINESS PHONE: 281-362-6817 MAIL ADDRESS: STREET 1: 2700 RESEARCH FOREST DRIVE STREET 2: SUITE 100 CITY: THE WOODLANDS STATE: TX ZIP: 77381 FORMER COMPANY: FORMER CONFORMED NAME: NEW PARK MINING CO DATE OF NAME CHANGE: 19720828 8-K 1 c15973e8vk.htm FORM 8-K 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): April 21, 2011

NEWPARK RESOURCES, INC.
(Exact name of registrant as specified in its charter)
         
Delaware   1-2960   72-1123385
(State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)
     
2700 Research Forest Drive, Suite 100
The Woodlands, TX
  77381
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (281) 362-6800
 
 
(Former name or former address if changed since last report.)

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 

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Item 7.01 Regulation FD Disclosure.

On April 21, 2011, Newpark Resources, Inc. (“Newpark”) completed the acquisition of Australian–based Rheochem PLC’s drilling fluids and engineering services business. The acquired business provides drilling fluids and engineering services to the oil and gas exploration and geothermal industries with operations in Australia, New Zealand and India. The transaction, which was more fully described in Newpark’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 4, 2011, was completed pursuant to a Share Sale and Purchase Agreement entered into on March 4, 2011 with Rheochem Plc, a copy of which will be filed as an exhibit to Newpark’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2011.

The information referenced under Item 7.01 (including Exhibit 99.1 referenced in Item 9.01 below) of this Current Report on Form 8-K is being “furnished” under “Item 7.01. Regulation FD Disclosure” and, as such, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information set forth in this Current Report on Form 8-K (including Exhibit 99.1 referenced in Item 9.01 below) shall not be incorporated by reference into any registration statement, report or other document filed by Newpark pursuant to the Securities Act of 1933, as amended (the “Securities Act”), except as shall be expressly set forth by specific reference in such filing. Newpark does not undertake to update the information as posted on its website; however, it may post additional information included in future press releases and Forms 8-K, as well as posting its periodic Exchange Act reports.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release issued by Newpark Resources, Inc. on April 21, 2011.

 

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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.

NEWPARK RESOURCES, INC.

Dated: April 25, 2011

By: /s/ James E. Braun                             
James E. Braun, Vice President and
Chief Financial Officer
(Principal Financial Officer)

 

3

EX-99.1 2 c15973exv99w1.htm EXHIBIT 99.1 Exhibit 99.1
Exhibit 99.1
         
(LOGO)   NEWS RELEASE
 
  Contacts:   James E. Braun, CFO
Newpark Resources, Inc.
281-362-6800
 
FOR IMMEDIATE RELEASE       Ken Dennard, Managing Partner
Dennard Rupp Gray & Lascar, LLC
ksdennard@drg-l.com
713-529-6600
NEWPARK RESOURCES CLOSES ACQUISITION
OF RHEOCHEM PLC’S DRILLING FLUIDS BUSINESS
THE WOODLANDS, TX — April 21, 2011 — Newpark Resources, Inc. (NYSE: NR) today announced the closing of the acquisition of Australian-based Rheochem PLC’s drilling fluids and engineering services business, effective April 21, 2011. The acquired business provides drilling fluids and engineering services to the oil and gas exploration and geothermal industries with operations in Australia, New Zealand and India. Newpark paid AUD $23.8 million in cash at closing, subject to typical future adjustments for working capital. Additional consideration may be payable based on financial results of the acquired business over a one-year earn-out period, up to a maximum total consideration of AUD $45 million.
Paul Howes, Newpark’s President and Chief Executive Officer, stated, “We are extremely pleased to complete this acquisition, which gives us an important footprint in the growing Asia Pacific region and supports the continued global expansion of our drilling fluids operations. As stated previously, we are also acquiring the Rheochem brand name, which is well recognized in the Far East, and will continue to operate under that name. We see the potential to introduce our technology to new customers and gain exposure to growing LNG activity in Australia, while also gaining knowledge from Rheochem’s expertise in geothermal fluids. Rheochem is a natural fit with Newpark as both companies share the commitment to provide operators with best-in-class drilling fluids and engineering services.”

 

 


 

Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions. For more information, visit our website at www.newpark.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act that are based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including the statements regarding the business and financial outlook of Rheochem’s drilling fluids segment and the anticipated benefits of the acquisition to Newpark, Newpark’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Newpark, particularly its Annual Report on Form 10-K for the year ended December 31, 2010, as well as others, could cause results to differ materially from those stated. These risk factors include, but are not limited to, potential disruption of Newpark’s business and operations as it integrates the acquired Rheochem segment into its business, political and economic conditions in the markets in which the acquired business operates, the ability to realize the anticipated benefits from the acquisition, our customer concentration and cyclical nature of our industry, the availability of raw materials and skilled personnel, our market competition, the cost and continued availability of borrowed funds, our international operations, legal and regulatory matters, including environmental regulations, inherent limitations in insurance coverage, potential impairments of long-lived intangible assets, technological developments in our industry, the impact of severe weather, particularly in the U.S. Gulf Coast, and restrictions on offshore drilling activity in the Gulf of Mexico. Newpark’s filings with the Securities and Exchange Commission can be obtained at no charge at www.sec.gov, as well as through our website at www.newpark.com.
# # #

 

 

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