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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) May 17, 1999
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.
On May 17, 1999, the Company's Acme Steel Company subsidiary ("Acme
Steel") made an initial draw of $8,993,221.00 under an irrevocable letter of
credit in the approximate amount of $32 million issued by The Chase Manhattan
Bank in favor of Acme Steel to secure performance by Raytheon Engineers &
Constructors, Inc. ("Raytheon") of its obligations under a certain Engineering,
Procurement and Construction Contract dated July 28, 1994 ("EPC Contract")
under which Raytheon engineered and constructed a Compact Strip Production
Plant, Roller Hearth Furnace, Ladle Metallurgy Furnaces, Hot Rolling Mill and
Related Support and Ancillary Facilities at Acme Steel's Riverdale facility.
The funds were drawn as a result of Acme Steel's position that Raytheon
failed to cure certain defaults under the EPC Contract.
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: June 9, 1999 By: /s/ Derrick T. Bay
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Derrick T. Bay
Controller and Chief
Accounting Officer
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