SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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):
May 24, 1999
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THERMO TERRATECH INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-9549 04-2925807
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
45 First Avenue
Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 622-1000
(Registrant's telephone number
including area code)
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This Form 8-K contains forward-looking statements that involve a number of risks
and uncertainties. Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are set forth
under the heading "Forward-looking Statements" in Exhibit 13 to Thermo TerraTech
Inc.'s Annual Report on Form 10-K for the year ended April 4, 1998. These
include risks and uncertainties relating to: dependence of the Registrant's
businesses on environmental regulation and on sales to government entities;
potential environmental, regulatory, and professional liability; intense
competition; development and commercialization of technology; dependence on the
availability of certain raw materials; possible obsolescence of the Registrant's
services due to technological change; the Registrant's acquisition and spinout
strategies; the availability of government funding; the effect of seasonal
influences on the Registrant's performance; and the potential impact of the year
2000 on processing date-sensitive information.
Item 5. Other Events
On May 24, 1999, the Registrant issued a press release regarding certain
pretax restructuring and other charges that will be taken by the Registrant.
The press release stated that the Registrant will record pretax charges
totaling approximately $65 million, primarily in the first quarter of fiscal
2000, which ends July 3, 1999. These charges will be recorded as a result of the
Registrant's proposed sale of various businesses. The Registrant's Thermo
EuroTech N.V. subsidiary intends to sell its used-oil processing operations. The
Registrant's The Randers Killam Group Inc. subsidiary plans to sell three
operating units: BAC Killam, the Randers division, and E3-Killam. In addition,
the Registrant's ThermoRetec Corporation subsidiary announced its intent to sell
certain soil-recycling facilities.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: not
applicable.
(b) Pro Forma Financial Information: not applicable.
(c) Exhibits: not applicable.
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SIGNATURE
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, thereunto duly authorized, on this 25th day of May, 1999.
THERMO TERRATECH INC.
By: /s/ Theo Melas-Kyriazi
Theo Melas-Kyriazi
Chief Financial Officer
