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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 25, 1996
ACME METALS INCORPORATED
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 1-14378 36-3802419
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(State or other (Commission File Number) (IRS Employer Identification No.)
jurisdiction of Incorporation)
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13500 South Perry Avenue, Riverdale, Illinois 60627-1182
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (708) 849-2500
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
The following exhibit accompanies this Current Report on Form 8-K:
Exhibit No. Description
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20.1 Press release issued
on September 25, 1996
SIGNATURES
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.
ACME METALS INCORPORATED
Date: September 25, 1996 By: /s/ Jerry F. Williams
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Vice President-Finance and Administration
and Chief Financial Officer
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EXHIBIT 20.1
NEWS FROM
[ACME METALS INCORPORATED LETTERHEAD]
FOR IMMEDIATE RELEASE For further information contact:
September 25, 1996 James W. Hoekwater
Treasurer
Acme Metals Incorporated
(708) 849-2500
ACME METALS SELLS $8.5 MILLION TAX-EXEMPT BONDS
Riverdale, IL, September 25, 1996--Acme Metals Incorporated today
announced it has sold $8,585,000 of tax-exempt bonds. The Environmental
Improvement Revenue bonds were issued by the Village of Riverdale with a
coupon rate and an effective yield of 7.90%. The bonds mature April 1,
2024.
The net proceeds of the bonds will reimburse the Company for funds
expended for the acquisition, construction and installation of solid waste
disposal facilities which are part of the Modernization and Expansion
Project currently under construction at the Company's Acme Steel Company
plant in Riverdale, a Chicago suburb. The bonds are secured by the
Company's pledge of loan payments and an interest in the solid waste
disposal facilities.
The Modernization and Expansion Project consists of a continuous thin slab
caster and seven stand hot strip mill which will be the world's first
complex to produce MiniGratedTM steel, combining mini-mill efficiencies
with Acme's traditional high quality liquid steel. This state-of-the-art
technology will result in higher quality steels for customers, create
opportunities to expand Acme's share of present markets as well as enter
new markets, and
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ideally position Acme for enhanced long-term growth and profitability
as a low cost, superior quality North American steel producer.
The Company also announced that its 12 1/2% Senior Secured Notes due 2002
and 13 1/2% Senior Secured Discount Notes due 2004 previously issued as
part of the financing for the Modernization and Expansion Project have
been certified by the New York Stock Exchange. It is expected that the
bonds will commence trading on the Exchange September 27, 1996.
Acme Metals Incorporated, through its operating subsidiaries, is a fully
integrated producer of steel, steel strapping and strapping products,
welded steel tube, and auto and light truck jacks. Its common stock is
traded on the New York Stock Exchange under the symbol AMI and on the
Toronto Stock Exchange under the symbol AMK.
