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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.1)*
SIPEX Corporation
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
829909 10 0
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(CUSIP Number)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 6
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CUSIP NO. 829909 10 0 13G Page 2 of 6 Pages
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tractebel, S.A.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Brussels, Belgium
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5. SOLE VOTING POWER
1,392,272 shares
NUMBER OF -------------------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY -0- shares
OWNED BY
EACH -------------------------------------------------------------
REPORTING 7. SOLE DISPOSITIVE POWER
PERSON 1,392,272 shares
WITH
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8. SHARED DISPOSITIVE POWER
-0- shares
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,392,272 shares
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
N/A
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.86%
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12. TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 6 Pages
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CUSIP NO. 829909 10 0 13G Page 3 of 6 Pages
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Item 1(a). Name of Issuer:
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SIPEX Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
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22 Linnell Circle
Billerica, Massachusetts 10821
Item 2(a). Name of Person Filing:
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Tractebel S.A.
Item 2(b). Address of Principal Business Office or, if none, Residence:
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Place du Trone 1
Brussels, Belgium 1000
Item 2(c). Citizenship or Place of Organization:
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Belgium Corporation
Item 2(d). Title of Class of Securities:
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Common Stock, $.01 par value per share.
Item 2(e). CUSIP Number:
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829909 10 0
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
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(a) [ ] Broker or Dealer registered under Section 15 of
the Securities Exchange Act of 1934 (the "Act").
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance Company as defined in Section 3(a)(19)
of the Act.
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 6 Pages
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CUSIP NO. 829909 10 0 13G Page 4 of 6 Pages
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(d) [ ] Investment Company registered under Section 8 of
the Investment Company Act of 1940.
(e) [ ] Investment Adviser registered under Section 203
of the Investment Advisers Act of 1940.
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund; see Rule 13d-1(b)(1)(ii)(F) of
the Act.
(g) [ ] Parent Holding Company, in accordance with Rule
13d-1(b)(ii)(G) of the Act.
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
of the Act.
Not applicable.
Item 4. Ownership:
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(a) Amount Beneficially Owned: 1,392,272 shares
(b) Percent of Class: 7.86%
The foregoing percent was calculated based on 17,711,422
shares of Common Stock outstanding.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 1,392,272
shares
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the disposition
of: 1,392,272 shares
(iv) Shared power to dispose or direct the
disposition of: -0-
Item 5. Ownership of Five Percent or Less of a Class:
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Not applicable.
Page 4 of 6 Pages
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CUSIP NO. 829909 10 0 13G Page 5 of 6 Pages
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Item 6. Ownership of More than Five Percent on Behalf of Another Person:
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Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
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Not applicable.
Item 8. Identification and Classification of Members of the Group:
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Not applicable
Item 9. Notice of Dissolution of Group:
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Not applicable.
Item 10. Certification:
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Not applicable.
Page 5 of 6 Pages
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CUSIP NO. 829909 10 0 13G Page 6 of 6 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 29, 1998.
TRACTEBEL
Societe Anonyme
By: /s/ Ph. Soumoy
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Financial Manager
By: /s/ E. Van Innis
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Director
Page 6 of 6 Pages
