-----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, QkXIqj854dO5nASgCXaarKte0NirWKyyHy0L6MJtw8mhUZetbxDSa16P0twgBL9t r02hOvII5UWXue5sKO5sag== 0000916002-02-000055.txt : 20020917 0000916002-02-000055.hdr.sgml : 20020917 20020917154358 ACCESSION NUMBER: 0000916002-02-000055 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020917 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20020917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MIDWEST GRAIN PRODUCTS INC CENTRAL INDEX KEY: 0000835011 STANDARD INDUSTRIAL CLASSIFICATION: GRAIN MILL PRODUCTS [2040] IRS NUMBER: 480531200 STATE OF INCORPORATION: KS FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17196 FILM NUMBER: 02765988 BUSINESS ADDRESS: STREET 1: 1300 MAIN ST CITY: ATCHISON STATE: KS ZIP: 66002 BUSINESS PHONE: 9133671480 MAIL ADDRESS: STREET 1: 1300 MAIN STREET CITY: ATCHISON STATE: KS ZIP: 66002 8-K 1 form8k.txt 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) September 17, 2002 MIDWEST GRAIN PRODUCTS, INC. (Exact name of registrant as specified in its charter) KANSAS 0-17196 48-0531200 (State or other jurisdiction of (Commission (IRS Employer Identification No.) incorporation) File Number) 1300 Main Street Box 130 Atchison, Kansas 66002 (Address of principal executive offices) (Zip Code) (913) 367-1480 (Registrant's telephone number, including area code) Item 7. Exhibits 99.1 Press Release dated September 17, 2002. Item 9. Regulation FD Disclosure. Attached as Exhibit 99.1 and incorporated into this Item 9 by reference is a press release which was issued on September 17, 2002 by Midwest Grain Products, Inc. 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. MIDWEST GRAIN PRODUCTS, INC. Date: September 17, 2002 By:/s/ Robert G. Booe Robert G. Booe Vice President and Chief Financial Officer EX-99 2 presrel.txt PRESS RELEASE [LOGO OMITTED] [GRAPHIC OMITTED] FOR IMMEDIATE RELEASE: INVESTIGATION CONTINUES INTO MIDWEST GRAIN DISTILLERY EXPLOSION ATCHISON, Kan., September 17, 2002 -- The cause of Friday's distillery explosion at Midwest Grain Products, Inc.'s Atchison plant remains under investigation. A full damage assessment is underway but could take some time to complete. The company maintains property, general liability and business interruption insurance and believes that its coverages are sufficient to protect it from material loss as a result of the explosion. Initial conferences with insurance representatives are being held this week. As a result of the explosion, the company's Atchison alcohol production facility is inoperable. Pending completion of the damage assessment, the company is unable to estimate when the distillery will reopen. Historically, the Atchison distillery has produced approximately one-third of the company's total alcohol output. However, the company believes that production capabilities at its Pekin, Illinois, facility could be sufficient to supply regular customers, but its ability to supply new spot business could be substantially reduced. During the last fiscal year, the Atchison distillery accounted for approximately 19% of the company's total fuel grade alcohol production and approximately 67% of its total food grade alcohol production. The company is working to resume the production of wheat-based ingredients at the Atchison plant as soon as practicable. Some production is expected to occur within the next one to two weeks, depending primarily on the extent of damage to the plant's boilers. These wheat-based ingredients consist primarily of commodity and specialty wheat proteins and wheat starches. Sales of wheat-based ingredients produced at the Atchison facility during the last fiscal year represented approximately 61% of the company's total wheat-based ingredient sales, nearly 75% of the company's specialty wheat-based ingredient sales and nearly 44% of the company's commodity wheat-based ingredient sales. -more- ADD 1 -- MIDWEST GRAIN EXPLOSION INVESTIGATION CONTINUES Because the Atchison plant's wheat-based ingredient and alcohol production processes are integrated, the company's ability to resume normal protein and starch production operations will be dependent on the company's ability to make arrangements for alternative means of handling the effluents from the production of wheat-based ingredients that were consumed in the distillery operations. If such arrangements do not materialize, the company's ability to process commodity starches and commodity proteins at the Atchison plant will be affected. However, in recent years, the company has elected to reduce the production of its commodity wheat-based ingredients and instead has emphasized sales of its specialty products. By adjusting its production process and by sourcing starch and gluten raw material from its Illinois plant, the company expects to be able to resume producing most of its specialty wheat-based proteins and starches formerly produced at its Atchison plant after the plant reopens. Specialty wheat-based proteins and starches have been the primary focus of the company's marketing efforts in recent times. The Atchison plant has approximately one month's inventory of most protein and starch products and the company expects to be able to maintain shipments to customers until wheat-based ingredient production at the Atchison facility returns to more normal operations. This news release contains forward-looking statements as well as historical information. Forward-looking statements are identified by or are associated with such words as "intend," "believe," "estimate," "expect," "anticipate," "hopeful," "should," "may" and similar expressions. They reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results and are not guarantees of future performance. The forward-looking statements are based on many assumptions and factors, including those relating to grain prices, gasoline prices, energy costs, product pricing, competitive environment and related marketing conditions, operating efficiencies, access to capital and actions of governments or government officials and actions of insurers. Any changes in the assumptions or factors could produce materially different results than those predicted and could impact stock values. ### -----END PRIVACY-ENHANCED MESSAGE-----