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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) September 29, 1997
STARMET CORPORATION
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(Exact name of Registrant as Specified in its Charter)
MASSACHUSETTS 0-8836 04-2506761
(State or other (Commission (IRS Employer
jurisdiction of File Number)
Identification No.)
incorporation
or organization)
2229 Main Street, Concord, Massachusetts 01742
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(Address of Principal Executive Offices) (Zip Code)
(508) 369-5410
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(Registrant's Telephone Number, Including Area Code)
NUCLEAR METALS, INC.
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On September 29, 1997, Nuclear Metals, Inc. (the "Company") held a
special meeting of its stockholders and adopted two proposals, generally
described below and in the attached press release.
Effective October 1, 1997, the name of the Company was changed to
"StarMet Corporation" and the Company's ticker symbol on Nasdaq was changed
to "STMT".
The Company also received approval to reorganize into five subsidiaries to
operate in the following lines of business: depleted uranium products,
specialty powders, specialty metals, Beralcast-Registered Trademark-products
for aerospace use, and Beralcast-Registered Trademark-products for commercial
use. The Company received approval to transfer some or all of the assets,
debts and obligations related to each business activity to the respective
subsidiary in exchange for 100% of such subsidiary's issued and outstanding
stock. The Company also received approval to transfer the remaining assets
used at Carolina Metals, Inc.'s (CMI) South Carolina facility to CMI in
consideration of the assumption of the debts, obligations and liabilities of
such assets.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Exhibit
99 Press Release dated September 29, 1997.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.
STARMET CORPORATION
/s/ James M. Spiezio
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James M. Spiezio, Vice President Finance
Date: 10/15/97
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Exhibit 99
NUCLEAR METALS, INC.
September 29, 1997
NEWS ITEM--FOR IMMEDIATE RELEASE
NUCLEAR METALS, INC. RECEIVES SHAREHOLDERS APPROVAL FOR NAME CHANGE AND
RESTRUCTURING.
Nuclear Metals, Inc., a diversified metallurgical technology company
based in Concord, Massachusetts announced today that it has received
shareholder approval to change its company name to STARMET CORPORATION.
Shareholders also approved the proposed corporate restructuring plan to
establish several new wholly owned subsidiaries. At the conclusion of a
special meeting of shareholders held earlier today in Concord, President
Robert E. Quinn stated, "With the backing of our shareholders received this
morning, we will now undertake key changes to our company structure, which we
believe will better position our patented technologies for their expected
future growth. This restructuring will, over the long term, improve
stockholder value." He then announced the following changes will take place
on October 1, 1997. Four new wholly owned subsidiaries will be created under
Starmet Corporation.
Starmet NMI will provide manufacturing and sales of depleted uranium
products for both defense and commercial shielding applications. Starmet
Powders will provide manufacturing and sales of high purity spherical metal
powders. Starmet Aerocast will provide manufacturing and sales of
Beralcast--Registered Trademark-- products for use by the government and in
the aerospace industry. Starmet Comcast will provide manufacturing and sales
of Beralcast--Registered Trademark-- products for general commercial use.
The company's existing Barnwell, South Carolina subsidiary, Carolina Metals,
Inc. will be renamed Starmet CMI and provide uranium metal products and
related services to both the commercial and government markets.
A new stock trading symbol has been reserved with the NASDAQ stock
market under the symbol STMT.
For futher information, contact:
Frank J. Vumbaco
Vice President, Corporate Communications
(508) 369-5410
or visit our web site at http://www.nucmet.com
2229 Main Street, Concord, Massachusetts 01742 (508) 369-5410
