<PAGE>
1997
FORM 10-K/A
AMENDMENT NO. 1
----------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
[No Fee Required]
For the fiscal year ended December 31, 1997
Commission file number 1-9678
ARCO CHEMICAL COMPANY
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 51-0104393
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
3801 WEST CHESTER PIKE, NEWTOWN SQUARE, PENNSYLVANIA 19073-2387
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code: (610) 359-2000
Securities registered pursuant to Section 12(b) of the Act:
NAME OF EACH
EXCHANGE
ON WHICH
TITLE OF EACH CLASS REGISTERED
------------------- ------------
COMMON STOCK, $1.00 PAR VALUE NEW YORK STOCK EXCHANGE
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. [ ]
The aggregate market value of the voting stock held by non-affiliates of the
registrant on February 6, 1998, based on the closing price on the New York
Stock Exchange composite tape on that date, was $813,716,277.
Number of shares of Common Stock, $1.00 par value, outstanding at December 31,
1997: 97,177,230.
DOCUMENTS INCORPORATED BY REFERENCE
The registrant's definitive proxy statement, which will be filed with the
Securities and Exchange Commission within 120 days after December 31, 1997
(incorporated by reference under Part III).
<PAGE>
The undersigned hereby amends the following items and exhibits of its Annual
Report on Form 10-K for the fiscal year ended December 31, 1997 as follows:
ITEM 14. EXHIBITS AND REPORTS ON FORM 8-K.
3. Exhibits:
24.2 Power of Attorney.
27.1 Financial Data Schedule for the fiscal year ended December 31, 1997.
27.2 Restated Financial Data Schedule for the fiscal year ended December 31,
1996.
27.3 Restated Financial Data Schedule for the quarterly period ended
September 30, 1996.
27.4 Restated Financial Data Schedule for the quarterly period ended June
30, 1996.
27.5 Restated Financial Data Schedule for the fiscal year ended December 31,
1995.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 of the Securities Exchange Act of
1934, the registrant has duly caused this amendment to be signed on its behalf
by the undersigned, thereunto duly authorized, in Newtown Square, Commonwealth
of Pennsylvania, on May 14, 1998.
ARCO Chemical Company
MARVIN O. SCHLANGER
By: _________________________________
Marvin O. Schlanger
President and Chief Executive
Officer
----------------
Pursuant to the requirements of the Securities Exchange Act of 1934, this
amendment has been signed below by the following persons on behalf of the
registrant and in the capacities and on the date indicated.
SIGNATURE TITLE DATE
Chairman of the
ANTHONY G. FERNANDES* Board and Director
- -------------------------------------
Anthony G. Fernandes
ALAN R. HIRSIG* Vice Chairman
- ------------------------------------- and Director
Alan R. Hirsig
MARVIN O. SCHLANGER President, Chief
- ------------------------------------- Executive Officer
Marvin O. Schlanger and Director
WALTER J. TUSINSKI* Senior Vice
- ------------------------------------- President, Chief
Walter J. Tusinski Financial Officer
and Director
WALTER F. BERAN*
- ------------------------------------- Director
Walter F. Beran
MARK L. HAZELWOOD*
- ------------------------------------- Director
Mark L. Hazelwood
JOHN H. KELLY* Director
- -------------------------------------
John H. Kelly
MARIE L. KNOWLES* Director
- ------------------------------------- May 14, 1998
Marie L. Knowles
JAMES A. MIDDLETON* Director
- -------------------------------------
James A. Middleton
STEPHEN R. MUT*
- ------------------------------------- Director
Stephen R. Mut
FRANK SAVAGE* Director
- -------------------------------------
Frank Savage
DONALD R. VOELTE, JR.* Director
- -------------------------------------
Donald R. Voelte, Jr.
VAN BILLET Vice President and
- ------------------------------------- Controller
Van Billet (principal
accounting officer)
VAN BILLET
*By: ________________________________
Van Billet
(Attorney in fact)
53
<PAGE>
INDEX TO EXHIBITS
24.2 Power of Attorney.
27.1 Financial Data Schedule for the fiscal year ended December 31, 1997.
27.2 Restated Financial Data Schedule for the fiscal year ended December 31.
1996.
27.3 Restated Financial Data Schedule for the quarterly period ended September
30, 1996.
27.4 Restated Financial Data Schedule for the quarterly period ended June 30,
1996.
27.5 Restated Financial Data Schedule for the fiscal year ended December 31,
1995.
<PAGE>
EXHIBIT 24.2
ARCO CHEMICAL COMPANY
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints
Van Billet, Robert J. Millstone, Marvin O. Schlanger, and Walter J. Tusinski,
and each of them, his or her true and lawful attorneys-in-fact and agents, with
full power of substitution and resubstitution, for him or her and in his or her
name, place and stead, in any and all capacities, to effect the following acts
as necessary or appropriate for the conduct of the business and affairs of ARCO
Chemical Company (the "Company"):
I. In connection with any outstanding security of the Company
registered pursuant to Section 12 of the Securities Exchange Act of 1934,
as amended
(1) to execute any singular or periodic report (including
amendments) required or permitted to be filed under the Securities Exchange
Act of 1934, as amended, including specifically any amendments to the
------------
Company's Annual Report on Form 10-K for the fiscal year ended December 31,
1997 and the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 1998; and
(2) to file or cause to be filed such report with the Securities
and Exchange Commission (the "Commission"), any national or foreign
securities exchange, any securities industry self-regulatory organization,
any state or other jurisdiction of the United States, and any jurisdiction
outside the United States, in each case as required or permitted by
applicable law;
II. In connection with the issuance, offering, or sale of any
securities authorized by the Board of Directors of the Company or by the
Executive Committee thereof pursuant to due authorization by such Board, or
in connection with the issuance, offering or sale of any security,
participation or interest in any employee or executive compensation or
benefit plan authorized and approved by the Board of Directors of the
Company or by the Executive Committee, Compensation Committee, or Long-Term
Incentive Plan Administration Subcommittee thereof pursuant to due
authorization by such Board.
(1) to execute and file, or cause to be filed, with the
Commission, (A) Registration Statements and any and all amendments
(including post-effective amendments) thereto, and to file, or cause to be
filed, all exhibits thereto and other documents in connection therewith as
required or permitted by the Commission in connection with such
registration under the Securities Act of 1993, as amended, and (B) any
singular or periodic report or other document required or permitted to be
filed by the Company with the Commission pursuant to the Securities
Exchange Act of 1934, as amended;
(2) to execute and file, or cause to be filed, any application
for registration or exemption therefrom, or any report or any other
document required or permitted
<PAGE>
to be filed by the Company under the Blue Sky or securities laws of any
state or other jurisdiction of the United States, and to furnish any other
information required in connection therewith, including any reports or
other documents required or permitted to be filed subsequent to the
issuance of such securities;
(3) to execute and file, or cause to be filed, any application
for registration or exemption therefrom under the securities laws of any
jurisdiction outside the United States, including any reports or other
documents required or permitted to be filed subsequent to the issuance of
such securities; and
(4) to execute and file, or cause to be filed, any application
for listing such securities on any national or foreign securities exchange;
granting to such attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act required to be done as he or she
might or could do in person, hereby ratifying and confirming all that such
attorneys-in-fact and agents, and each of them, may lawfully do or cause to be
done by virtue of this Power of Attorney.
Each such attorney-in-fact and agent shall have the right to
indemnification for any action taken or omitted pursuant to this Power of
Attorney provided in the By-Laws of the Company to officers and directors for
service as such, including, but not limited to, the non-exclusivity provisions
of such By-Laws.
Each person whose signature appears below may at any time revoke this Power
of Attorney, as to himself or herself only, by an instrument in writing
specifying that this Power of Attorney is revoked as to him or her as of the
date of delivery of such revocation to the Secretary of the Company or at a
subsequent specified date. This Power of Attorney shall be revoked
automatically with respect to any person whose signature appears below effective
on the date he or she ceases to be a member of the Board of Directors, or in the
case of Mr. Billet, on the date he ceases to be the principal accounting officer
of the Company, or in the case of Mr. Millstone, on the date he ceases to be
Vice President, General Counsel and Secretary. Any revocation shall not void or
otherwise affect any acts performed by any attorney-in-fact and agent named
herein pursuant to this Power of Attorney prior to the effective date of such
revocation.
This instrument may be executed in multiple counterparts each of which
shall be deemed an original and all of which together shall be deemed one
instrument.
<PAGE>
SIGNATURE
---------
SIGNATURE TITLE DATE
Chairman of the
ANTHONY G. FERNANDES Board and Director
- -------------------------------------
Anthony G. Fernandes
ALAN R. HIRSIG Vice Chairman
- ------------------------------------- and Director
Alan R. Hirsig
MARVIN O. SCHLANGER President, Chief
- ------------------------------------- Executive Officer
Marvin O. Schlanger and Director
WALTER J. TUSINSKI Senior Vice
- ------------------------------------- President, Chief
Walter J. Tusinski Financial Officer
and Director
WALTER F. BERAN
- ------------------------------------- Director
Walter F. Beran
MARK L. HAZELWOOD
- ------------------------------------- Director May 14, 1998
Mark L. Hazelwood
JOHN H. KELLY Director
- -------------------------------------
John H. Kelly
MARIE L. KNOWLES Director
- -------------------------------------
Marie L. Knowles
JAMES A. MIDDLETON Director
- -------------------------------------
James A. Middleton
<PAGE>
SIGNATURE TITLE DATE
STEPHEN R. MUT
- ------------------------------------- Director
Stephen R. Mut
FRANK SAVAGE Director
- ------------------------------------- May 14, 1998
Frank Savage
DONALD R. VOELTE, JR. Director
- -------------------------------------
Donald R. Voelte, Jr.
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