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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): September 2, 1999
(September 2, 1999)
GEORGIA GULF CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-9753 58-1563799
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation) Number) Identification No.)
400 PERIMETER CENTER TERRACE, SUITE 595, ATLANTA GEORGIA 30346
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (770) 395-4500
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On September 2, 1999, Georgia Gulf Corporation announced that it will exit
the methanol business by the end of 1999, as more fully described in the
press release filed as Exhibit 99.1 to this report and incorporated in this
report by reference.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: A number of the matters discussed in the press release filed as Exhibit
99.1 to this report that are not historical or current facts deal with
potential future circumstances and developments. These forward-looking
statements are based on management's assumptions regarding business
conditions, and actual results may be materially different. Risks and
uncertainties inherent in these assumptions include, but are not limited to,
future global economic conditions, industry production capacity, and other
factors discussed in the Securities and Exchange Commission filings of
Georgia Gulf Corporation, including the annual report on Form 10-K for the
year ended December 31, 1998 and the quarterly report on Form 10-Q for the
quarter ended June 30, 1999.
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.
Exhibit No. Exhibit Description
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99.1 Press Release dated September 2, 1999.
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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 hereunto duly authorized.
GEORGIA GULF CORPORATION
Date: September 2, 1999 By: /s/ Richard B. Marchese
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Richard B. Marchese
Vice President Finance,
Chief Financial Officer and Treasurer
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EXHIBIT INDEX
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Exhibit No. Exhibit Description
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99.1 Press Release dated September 2, 1999.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
GEORGIA GULF EXITS METHANOL BUSINESS
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Atlanta, September 2, 1999 -- Georgia Gulf Corporation today announced that
the company will exit the methanol business entirely at the end of this year.
Effective with the fiscal 1999 third quarter, Georgia Gulf will reclassify
its gas chemicals segment to discontinued operations. The company estimates
an after-tax non-cash charge of approximately $8 million will be incurred in
the third quarter to write-off certain of its methanol assets.
Georgia Gulf, headquartered in Atlanta and listed on the NYSE (GGC), is
a major manufacturer and marketer of two highly integrated product lines,
chlorovinyls and aromatics. Georgia Gulf's chlorovinyl products include
chlorine, caustic soda, sodium chlorate, vinyl chloride monomer and polyvinyl
chloride resins and compounds. Georgia Gulf's primary aromatic chemical
products include cumene, phenol and acetone.
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This news release contains forward-looking statements subject to the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's assumptions
regarding business conditions, and actual results may be materially
different. Risks and uncertainties inherent in these assumptions include, but
are not limited to,future global economic conditions, industry production
capacity, and other factors discussed in the Securities and Exchange
Commission filings of Georgia Gulf Corporation, including the annual report
on Form 10-K for the year ended December 31, 1998 and the quarterly report on
Form 10-Q for the quarter ended June 30, 1999.
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