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):
November 4, 1999
JLM INDUSTRIES, INC.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 0-22687 06-1163710
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(State or Other (Commission (I.R.S. Employer
Jurisdiction) File Number) Identification Number)
8675 HIDDEN RIVER PARKWAY, TAMPA, FL. 33637
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(Address of Principal Executive Office) (Zip Code)
(813) 632-3300
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(Registrant's telephone number, including area code)
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Item 5. Other Events
Effective November 4, 1999 (the "Acquisition Date"), JLM Marketing, Inc., a
subsidiary of JLM Industries, Inc. ("JLM" or the "Company") agreed to purchase
from Societe Financiere d'Entreposage et de Commerce International de l'Alcool,
S.A. ("Societe S.A.") various assets, inventory, receivables and contractual
commitments of Sofecia USA, a wholly-owned and unincorporated operating division
of Societe S.A. The total purchase price for the acquired assets was $2.3
million plus additional annual payments, based on earnings as defined in the
contract, to be made over the next five years. The purchase was funded by the
Company's available acquisition line of credit. The purchase price is subject to
final audit adjustments.
Sofecia USA was an industrial ethyl alcohol distribution business engaged
in the marketing and distribution of synthetic and fermentation grade ethyl
alcohol throughout the United States, which JLM Marketing, Inc. has assumed as
part of the purchase price. Sofecia USA operated from leased facilities located
in Norwalk, Connecticut. The acquisition will be accounted for under the
purchase method in accordance with generally accepted accounting principles.
Item 7. Financial Statements and Exhibits.
1. Financial statements and exhibits filed herewith: Not applicable.
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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.
JLM INDUSTRIES, INC.
Dated: November 30, 1999
By:/S/ JOHN L. MACDONALD
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John L. Macdonald
President and Chief
Executive Officer
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