-----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, L8nXD0V9y7hVjuZVUy/w+VNWpTa15BKy0tiLWNfu2ujZmgZECvPkO8rUjDadfhiG iUgF8eilXCPQxuendGEJIA== 0000905722-01-500006.txt : 20010502 0000905722-01-500006.hdr.sgml : 20010502 ACCESSION NUMBER: 0000905722-01-500006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20010430 ITEM INFORMATION: FILED AS OF DATE: 20010501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HUNTCO INC CENTRAL INDEX KEY: 0000905722 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 431643751 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13600 FILM NUMBER: 1617680 BUSINESS ADDRESS: STREET 1: 14323 SOUTH OUTER FORTY STREET 2: STE 600 N CITY: TOWN & COUNTRY STATE: MO ZIP: 63017 BUSINESS PHONE: 3148780155 MAIL ADDRESS: STREET 1: 14323 S OUTER FORTY STREET 2: STE 600N CITY: TOWN & COUNTRY STATE: MO ZIP: 63017 8-K 1 form8kapril.txt 8K 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 30, 2001 ------------------------- HUNTCO INC. ---------------- (Exact name of registrant as specified in its charter) Missouri 1-13600 43-1643751 - ----------------- ---------------------- -------------- (State or other (Commission File Number) (IRS Employer jurisdiction of Identification No.) incorporation) 14323 S. Outer Forty, Suite 600N, Town & Country, Missouri 63017 ------------------------------------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (314) 878-0155 ------------------------- Not applicable ------------------------------------------------------------ (Former name or former address, if changed since last report) Item 5. Other Events Enron Industrial Markets, in conjunction with Huntco Inc. (the "Company"), issued a news release on April 30, 2001, to report the signing of definitive agreements concerning: (a) Enron's acquisition of the Company's cold rolling and certain coil pickling operations in Blytheville, Arkansas and (b) the extension of a term loan from Enron to Huntco under transactions totaling $27.0 million; as well as (c) the long-term provision of inventory price risk management services from Enron to the Company. As stated in the release, "All transactions are scheduled to close on or before June 30, 2001, subject to satisfactory completion of Enron's due diligence and obtaining applicable consents and approvals. Further financial terms of the transactions were not disclosed." A copy of this news release is incorporated herein by reference to Exhibit 99 attached hereto. The Company also issued a news release on April 30, 2001, to report that it was giving notice to shut down its Blytheville, Arkansas cold rolling and pickling operation. This news release is incorporated herein by reference to Exhibit 99 attached hereto. - ------------------------------------------------------------------------------ SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HUNTCO INC. By: /s/ Anthony J. Verkruyse ------------------------------------- Anthony J. Verkruyse, Vice President & CFO Date: April 30, 2001 - ------------------------------------------------------------------------------ EXHIBIT INDEX These Exhibits are numbered in accordance with the Exhibit Table of Item 601 of Regulation S-K: Exhibit No. Description ----------- --------------------------------- 99 News release of April 30, 2001 regarding transactions with Enron 99 News release of April 30, 2001 regarding shut down of the Company's Blytheville, Arkansas cold rolling and pickling operation. EX-99 2 enroncoldmillrelease.txt ENRON COLD MILL RELEASE ENRON ANNOUNCES PRICE RISK MANAGEMENT AND PROCUREMENT OUTSOURCING AGREEMENT WITH HUNTCO STEEL FOR IMMEDIATE RELEASE: Monday, April 30, 2001 HOUSTON - Enron Industrial Markets and Huntco Inc. announced today the signing of definitive agreements under which over a 15-year period Enron will provide inventory price risk management services and will eventually provide more than 600,000 tons per year of hot-rolled, cold- rolled and galvanized steel products to Huntco Steel. The agreements also provide Enron access to Huntco's network of steel distribution centers nationwide. Additionally, the agreements provide for Enron's acquisition of Huntco's cold rolling and certain coil pickling operations in Blytheville, Arkansas and the extension of a term loan from Enron to Huntco under transactions totaling $27.0 million. All transactions are scheduled to close on or before June 30, 2001, subject to satisfactory completion of Enron's due diligence and obtaining applicable consents and approvals. Further financial terms of the transactions were not disclosed. "These transactions with Huntco have the potential to fundamentally change the way steel is bought and sold in the United States. It gives Enron immediate access to physical steel and positions Enron geographically to serve the steel industry in a variety of ways," said Jeff McMahon, president and CEO of Enron Industrial Markets. "In addition to providing physical products on both a spot and term basis, our goals for the steel industry include developing commodity risk management products, providing structured finance products and establishing the market-making capabilities that Enron has brought to the natural gas, power and other commodity markets." "Our steel processing business has suffered the effects of volatile steel prices since 1995. This price volatility has impaired our earnings and liquidity," said Robert J. Marischen, president and CEO of Huntco. "Enron offers creative and practical solutions to us to overcome these impediments to our success, which are reflected in the agreements announced today. This is a new beginning for Huntco Steel-allowing us the freedom to focus our resources on providing outstanding products and services at competitive prices to our customers." Enron began offering financial steel swaps in November 2000 and today provides physical products and risk management services to both buyers and sellers of steel products. These products are available via EnronOnline or through Enron's steel commodity desk. EnronOnline offers customers a free, Internet-based system for conducting wholesale transactions with Enron as principal. Enron is one of the world's leading electricity, natural gas and communications companies. The company, with revenues of $101 billion in 2000, markets electricity and natural gas, delivers physical commodities and financial and risk management services to customers around the world, and has developed an intelligent network platform to facilitate online business. Fortune magazine has named Enron "America's Most Innovative Company" for six consecutive years. Enron's Internet address is www.enron.com. The stock is traded under the ticker symbol "ENE." Huntco Inc. is the parent company of Huntco Steel, Inc., which is a major intermediate steel processor specializing in the processing of flat rolled carbon steel. Shares of Huntco Inc.'s Class A common stock are traded on the NYSE under the symbol "HCO." ### EX-99 3 warnrelease.txt WARN RELEASE HUNTCO INC. - NEWS RELEASE FOR IMMEDIATE RELEASE: HUNTCO INC. GIVES 60-DAY NOTICE TO SHUT DOWN BLYTHEVILLE, ARKANSAS COLD ROLLING AND PICKLING OPERATION TOWN & COUNTRY, MISSOURI, April 30, 2001 . . . . . Huntco Inc. (NYSE:"HCO"), an intermediate steel processor, announced that it was providing notification to applicable parties pursuant to the Worker Adjustment and Retraining Notification Act of 1988, of its intention to permanently close its cold rolling and coil pickling operations located in Blytheville, Arkansas, on or before June 30, 2001. Approximately 100 workers will be affected by the closure. "As indicated in a separate news release today, we expect to sell the assets used in these operations to Enron pursuant to the terms of a definitive agreement announced earlier today. We plan to permanently suspend our cold rolling and pickling operations whether or not the transactions with Enron are ultimately consummated, " said Robert Marischen, President and CEO of Huntco. Marischen added, "We believe that the decision to suspend operations at our cold rolling and pickling plants in Blytheville and the proposed sale to Enron are in the best interests of Huntco Inc., its shareholders and its remaining employees. Notwithstanding this, we regret the impact that this closure may have in the near term on our workforce in Blytheville." The Company expects that it will complete substantially all production required to meet remaining open sales commitments over the next two weeks, and that only very limited operations will be conducted thereafter until final suspension of operations. Affected workers will be paid through the next 60 days. Huntco Inc. is a major, intermediate steel processor, specializing in the processing of flat rolled carbon steel. * * * * for further information contact: Anthony J. Verkruyse-Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----