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) June 30, 1994
Lone Star Industries, Inc.
Debtor-in-Possession
(Exact name of registrant as specified in its charter)
Delaware 1-2333 13-0982660
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
300 First Stamford Place, P. O. Box 120014, Stamford, CT 06912-0014
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 969-8600
ITEM 5. OTHER EVENTS.
a) On June 30, 1994 Lone Star Industries, Inc. made public
disclosure of the following by a press release for immediate
release:
Stamford, Connecticut, June 30, 1994 --- Lone Star
Industries, Inc. (NYSE/LCE) said today that Rosebud
Holdings, Inc., the company formed by Lone Star to hold
and liquidate certain non-core assets in order to pay
down the $138 million in Asset Proceed Notes issued by
Rosebud to the Lone Star creditors at the time of Lone
Star's emergence from bankruptcy, announced that a
subsidiary of Rosebud had sold all of its interest in a
cement plant in Santa Cruz, California. The cement plant
has been operated by the RMC Lonestar Joint Venture and
has been sold to an affiliate of RMC Group plc, its
partner in that joint venture. RMC Group is a major
worldwide construction materials company headquartered in
England.
Rosebud said it will receive approximately $33 million in
cash from the sale. The proceeds from the sale, after
making provisions for costs related to the transaction,
will be paid to the Trustee for the Asset Proceed Notes
to be used to redeem a portion of the outstanding notes
at par.
Rosebud Holdings also announced that it intended to pay
the July 31, 1994 interest payment due on the Asset
Proceed Notes in cash rather than issue additional notes
as it has the right to do under the indenture related to
the notes.
The transaction to purchase the cement plant at Santa
Cruz was previously granted early termination of the
Hart-Scott-Rodino Act waiting period by the Federal Trade
Commission.
Lone Star Industries, Inc. is a producer of cement,
ready-mixed concrete, sand and gravel, crushed stone, and
other construction materials.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, Lone Star Industries, Inc. has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
LONE STAR INDUSTRIES, INC.
Debtor-in-Possession
By:
John S. Johnson
Vice President
Date: July 8, 1994
