-----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, NU2y8kmzBI8YXmXueBKg1O8cv6PZl6cPUrKJx/ekNb+Vdsfo/wEK6G4or+tJPrwe L9wU3wPB/hIhAqcK2cgDUQ== 0000950152-96-004801.txt : 19960923 0000950152-96-004801.hdr.sgml : 19960923 ACCESSION NUMBER: 0000950152-96-004801 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960918 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960920 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEON CO CENTRAL INDEX KEY: 0000897547 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821] IRS NUMBER: 341730488 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11804 FILM NUMBER: 96632515 BUSINESS ADDRESS: STREET 1: ONE GEON CENTER CITY: AVON LAKE STATE: OH ZIP: 44012 BUSINESS PHONE: 2169301000 MAIL ADDRESS: STREET 1: ONE GEON CENTER CITY: AVON LAKE STATE: OH ZIP: 44012 8-K 1 GEON COMPANY 8-K 1 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 18, 1996 ------------------ THE GEON COMPANY -------------------------------------------------- (Exact name of registrant as specified in charter) Delaware 1-11804 34-1730488 - -------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) One Geon Center, Avon Lake, Ohio 44012 -------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 216-930-1241 ------------ Not Applicable -------------- (Former name or former address, if changed since last report.) 2 Item 5. Other Events - --------------------- On September 18, 1996 the company announced that it was lowering its 3rd quarter, 1996 earnings as a result of reduced margins in polyvinyl chloride resins and recent vinyl chloride monomer manufacturing problems. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits - --------------------------------------------------------------------------- Exhibit 99, the text of The Geon Company press release dated September 18, 1996, is fixed herewith as a part of this Report. 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. THE GEON COMPANY By /s/ Gregory L. Rutman -------------------- Gregory L. Rutman Secretary Dated September 20, 1996 EX-99 2 EXHIBIT 99 1 EXHIBIT 99 GEON LOWERS EARNINGS ESTIMATE Cleveland, Ohio - September 18, 1996 - The Geon Company (NYSE: GON) today announced that a decline in cash margins in polyvinyl chloride (PVC) resins, as well as recent vinyl chloride monomer (VCM) manufacturing problems, will result in third-quarter earnings below previously anticipated levels. The Company expects earnings to be $0.10 to $0.20 below second-quarter 1996 earnings of $0.40 per share. PVC resin margins, selling price less cost for chlorine and ethylene, have eroded from the second quarter despite continued good customer demand. The Company's previously announced July 1, 1996, price increase of $0.04 per pound did not go into effect as expected in either July or August. Concurrently, chlorine and ethylene costs increased during the first two months of the third quarter. The Company expects third-quarter margins over raw material costs to be below the second quarter. The Company's newly expanded LaPorte, Texas, VCM plant has encountered problems associated with new equipment installed earlier this year. These issues have limited VCM production to less than full capacity, increased operating cost and required higher-than-anticipated purchases of VCM. The cause of the problems has been identified and full operating rates are now being attained. The total impact on the current quarter's earnings is estimated to be $0.05 per share. The Geon Company, a leading producer of PVC resins and compounds, is headquartered in Avon Lake, Ohio. ****** Media & Investor Contact: Dennis Cocco 216-930-1538 Investor Contact: Tom Waltermire 216-930-1222 -----END PRIVACY-ENHANCED MESSAGE-----