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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) March 9, 1998
ACME METALS INCORPORATED
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(Exact name of registrant as specified in its charter)
Delaware 1-14378 36-3802419
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(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
13500 South Perry Avenue, Riverdale, Illinois 60827-1182
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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 March 18, 1998
This report on Form 8-K reports the cash sale by the Company of its subsidiary,
Universal Tool & Stamping Company, Inc., to Dura Automotive Systems, Inc. for
approximately $18 million.
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: March 18, 1998 By: /s/ Edward P. Weber, Jr.
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Edward P. Weber, Jr.
Vice President, General Counsel
and Secretary
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[ACME METALS INCORPORATED LETTERHEAD]
IMMEDIATE RELEASE For further information contact:
March 18, 1998 Joel L. Hawthorne
Director, Investor & Public Relations
Acme Metals Incorporated
(708) 841-8383, ext. 2266
ACME METALS COMPLETES SALE OF UNIVERSAL TOOL & STAMPING COMPANY, INC.
RIVERDALE, Illinois, March 18, 1998 -- Acme Metals Incorporated (NYSE: AMI;
TSE: AMK) announced today that it has recently completed a cash sale of its
Butler, Indiana, subsidiary, Universal Tool & Stamping Company, Inc., to Dura
Automotive Systems, Inc. for approximately $18 million.
Stephen D. Bennett, President and CEO of Acme Metals Incorporated, the parent
company of Universal, commented, "Since its acquisition in 1987, Universal has
been a strong addition and good fit with our downstream integration strategy.
However, in order for Universal to continue its leadership position, it needed
to become a global supplier to its OEM customers and to offer a broader product
line. It was not our strategic focus to make the necessary investment to
become a global supplier of automotive components."
Acme Metals will record a gain on the sale of Universal favorably impacting
first quarter earnings by approximately $12 million pre-tax, $7 million after
tax.
Acme Metals Incorporated, through its operating subsidiaries, is a fully
integrated producer of steel, steel strapping and strapping products, and
welded steel tubing. 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.
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