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): January 13, 1999
SPECIAL METALS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 000-22029 25-1445468
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(State or other (Commission (IRS Employer Identification
jurisdiction of File Number) Number)
incorporation)
4317 Middle Settlement Road
New Hartford, New York 13413
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(Address of principal executive offices)
Registrant's telephone number, including area code: (315) 798-2900
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Item 5. Other Events
On January 13, 1999, the Registrant issued a press release regarding
the resignation of Francis J. Petro, from his positions as President of the
Registrant's Inco Alloys International business unit and as a member of the
Registrant's Board of Directors.
A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference. The press release includes "safe harbor"
language, pursuant to the Private Securities Litigation Reform Act of 1995,
indicating that certain statements about the Registrant's business contained in
the press release are matters that are not historical facts and are "forward-
looking," involving risks and uncertainties, including, but not limited to, the
factors referred to in the press release.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
The following is an exhibit to this Report:
Exhibit 99.1 Press Release dated January 13, 1999.
SIGNATURES
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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, thereunto duly authorized.
SPECIAL METALS CORPORATION
By: /s/ Donald R. Muzyka
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Name: Donald R. Muzyka
Title: President and Chief
Executive Officer
Dated: January 15, 1999
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EXHIBIT INDEX
SPECIAL METALS CORPORATION
Current Report on Form 8-K
Exhibit No. Description
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Exhibit 99.1 Press Release dated January 13, 1999.
EXHIBIT 99.1
[Special Metals Corporation Letterhead]
Contacts: Donald C. Darling
Vice President Administration &
Chief Financial Officer
Special Metals Corporation
(315) 798-2058
Charles S. Freer
Vice President and Director of
Investor Relations & Strategic
Planning
(315) 798-2031
Special Metals Announces Management Change At
Inco Alloys International
NEW HARTFORD, N.Y. -- January 13, 1999 -- Special Metals Corporation
(NASDAQ: SMCX) reported today that Francis J. Petro, President of its Inco
Alloys International (IAI) business unit has resigned effective immediately to
pursue other opportunities. Petro has also resigned as a member of the Special
Metals Corporation board.
In addition to his other duties, Special Metals President and Chief
Executive Officer Donald R. Muzyka will assume responsibility for day-to-day
management of IAI until a decision is made on replacing Petro. Operation of the
facilities will continue under the various functional IAI executives who will
now report directly to Muzyka.
Special Metals is the world's largest and most-diversified producer of
high-performance nickel-based alloys. Its specialty metals are used in some of
the world's most technically demanding industries and applications, including:
aerospace, power generation, chemical processing, oil exploration and
medical/dental devices. Through its New Hartford, N.Y. headquarters, 11 U.S. and
European production facilities and a global distribution network, Special Metals
supplies over 5,000 customers and every major world market for high-performance
nickel-based alloys.
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Special Metals Corporation
Page 2
The statements in this release relating to matters that are not
historical facts are forward-looking statements that involve risks and
uncertainties, including, but not limited to, the duration of the strike at the
Huntington facility, the cyclicality of the aerospace industry, raw material
pricing, future global economic conditions, global productive capacity,
competitive products, the ability to integrate Inco Alloys International into
Special Metals Corporation to achieve the synergy savings and other risks and
uncertainties detailed in the Company's Securities and Exchange Commission
filings.
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