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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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FORM 8-K
CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 15,1997
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ARCO CHEMICAL COMPANY
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-9678 51-0104393
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(Commission File Number) (IRS Employer Identification No.)
3801 West Chester Pike, Newtown Square, Pennsylvania 19073-2387
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (610)359-2000
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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On December 15, 1997, ARCO Chemical Company (the "Company") announced
that it had reached a conditional settlement of a dispute with Repsol Quimica,
S.A. concerning the use in Spain of technology for the production of propylene
oxide and styrene monomer. The settlement is subject to clearance by the
Directorate - General for Competition of the European Commission and the Spanish
Bureau for the Defense of Competition. See also the Company's Press Release,
dated December 15, 1997, filed as Exhibit 99 to this Report.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits:
99 Press Release, dated December 15, 1997.
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SIGNATURE
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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.
ARCO CHEMICAL COMPANY
/s/Van Billet
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Van Billet
Vice President
and Controller
December 15, 1997
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EXHIBIT INDEX
Exhibit
Number Description
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99 Press Release, dated December 15, 1997
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EXHIBIT 99
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ARCO Chemical Company
PUBLIC AFFAIRS NEWS
3801 West Chester Pike
Newtown Square, PA 19073-2387
ARCO CHEMICAL COMPANY ANNOUNCES
CONDITIONAL SETTLEMENT OF TECHNOLOGY DISPUTE
WITH REPSOL QUIMICA, S.A.
Newtown Square, Pennsylvania, December 15, 1997. ARCO Chemical Company
(NYSE: RCM) announced today that it had reached a conditional settlement of a
dispute with Repsol Quimica, S.A. concerning the use in Spain of technology for
the production of propylene oxide ("PO") and styrene monomer ("SM"). The
dispute has given rise to an arbitration at the International Chamber of
Commerce in Paris and to proceedings by the Directorate-General for Competition
of the European Commission and the Spanish Bureau for the Defense of
Competition. The settlement is conditional in that it is subject to clearance
by these two competition authorities.
If the settlement is cleared by the competition authorities, the
arbitration will come to an end, and the complaints and other filings that led
to the initiation of the competition proceedings will be withdrawn. The
settlement is without prejudice in the event that such clearance is not
obtained. Under the terms of the settlement, Repsol Quimica will be able to
carry out its PO/SM plans in Spain. The remaining terms of the settlement are
confidential.
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ARCO Chemical is a publicly traded worldwide manufacturer and marketer of
PO and derivatives and other intermediate chemicals with its headquarters in
Newtown Square, Pennsylvania, U.S.A. It is the world's largest producer of PO.
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Contacts:
Sallie D. Anderson, Manager, Communications (610-359-5773)
Sami S. Ahmad, Investor Relations (610-359-3171)
Martin Beck, Public Affairs-Europe (44-1628-775012)
