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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 6, 1997
IMCO RECYCLING INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
DELAWARE 1-7170 75-2008280
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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5215 NORTH O'CONNOR BLVD., SUITE 940
CENTRAL TOWER AT WILLIAMS SQUARE
IRVING, TEXAS 75039
(Address of principal
executive offices)
(972) 869-6575
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On November 6, 1997, IMCO Recycling Inc. (the "Company") issued a
press release (the "Press Release") regarding the amendment and restatement
of its credit agreement with its senior lenders. The Press Release is
included as an exhibit to this Report and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
The following exhibit is filed herewith:
99.1 Press Release dated November 6, 1997.
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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.
IMCO RECYCLING INC.
("Registrant")
Date: November 6, 1997 /s/ ROBERT R. HOLIAN
_______________________________________
Robert R. Holian
Vice President and
Controller
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INDEX TO EXHIBITS
EXHIBIT
NUMBER
99.1 Press Release dated November 6, 1997.
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EXHIBIT 99.1
[IMCO Recycling Inc. Letterhead]
For Information: Paul V. Dufour For Immediate Release
Telephone: (972) 869-6575 November 6, 1997
IMCO RECYCLING INC.
INCREASES BORROWING CAPACITY
THROUGH MODIFICATION OF CREDIT AGREEMENT
Irving, Texas - IMCO Recycling Inc. (NYSE:IMR) today announced that it
has modified its credit agreement with lenders and arranged a reducing
revolving credit facility of up to $200 million which is secured by
substantially all assets of the company. IMCO's borrowing limit under the
previous agreement was $125 million.
Don V. Ingram, chairman and chief executive officer, said borrowings
under the new six-year credit facility will be used to fund part of the costs
of IMCO's planned acquisition of Alchem Aluminum, Inc. of Coldwater, Michigan.
After this purchase, the company expects to have about $100 million in unused
borrowing capacity available under the new credit facility.
IMCO Recycling Inc. is the world's largest aluminum recycler and also
processes zinc and magnesium. The company has 15 U.S. production facilities
and owns 50 percent of a joint venture that operates two recycling and foundry
alloy plants in Germany. It is also building an aluminum recycling plant in
Swansea, Wales that is expected to begin operating by the end of 1997. IMCO
Recycling's headquarters office is in Irving, Texas.
. . .
