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
March 5, 1998
(Date of Report - Date of earliest event reported)
KERR-MCGEE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-3939 73-0311467
(State of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
Kerr-McGee Center
Oklahoma City, Oklahoma 73125
(Address of principal executive offices) (Zip Code)
(405) 270-1313
(Registrant's telephone number)
Item 5. Other Events
Kerr-McGee Chemical LLC signed an agreement in principle to sell its
forest products operations. The agreement in principle covers marketing and
operations at the company's six crosstie-treating plants.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
99.1 News Release dated March 5, 1998, announcing Kerr-McGee
signs an agreement in principle to sell its forest
products operations.
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.
KERR-MCGEE CORPORATION
By: (Deborah A. Kitchens)
Deborah A. Kitchens
Vice President and Controller
Dated: March 12, 1998
EXHIBIT INDEX
Exhibit No. Description
99.1 News Release dated March 5, 1998 announcing Kerr-McGee
signs an agreement in principle to sell its forest
products operations.
Exhibit 99.1
Kerr-McGee Signs Agreement in Principle to Sell Forest Products Operations
OKLAHOMA CITY (March 5, 1998) -- Kerr-McGee Chemical LLC has signed an
agreement in principle with Castle Harlan, Inc., a New York-based private
merchant bank, to sell its forest products operations. The agreement in
principle covers marketing and operations at the company's six crosstie-treating
plants. The company's forest products division currently operates plants at
Columbus, Miss.; The Dalles, Ore.; Indianapolis, Ind.; Madison, Ill.;
Springfield, Mo.; and Texarkana, Texas.
"This transaction is another step in the company's strategy to focus on
its growing worldwide oil and gas exploration and production and titanium
dioxide pigment operations," said Luke R. Corbett, Kerr-McGee chairman and chief
executive officer. "The dedicated efforts of the employees have built the forest
products division into a leader in the crosstie industry. However, we believe
that the full potential of these operations can best be realized apart from the
existing corporate structure."
Kerr-McGee Chemical is wholly owned by Kerr-McGee Corp. (NYSE: KMG),
an energy and chemical company with worldwide operations and $3.1 billion in
assets.
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CONTACT: Rick Buterbaugh
(405) 270-3561
