<PAGE> 1
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) December 10, 1999
-------------------------
HUNTCO INC.
----------------
(Exact name of registrant as specified in its charter)
Missouri 1-13600 43-1643751
- ----------------- ---------------------- --------------
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
14323 S. Outer Forty, Suite 600N, Town & Country, Missouri 63017
- ---------------------------------------------------------- ---------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (314) 878-0155
---------------------------
Not applicable
------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Huntco Inc. (the "Company") issued a news release on December 10, 1999, with
respect to the sale of its steel processing facility located in South
Carolina. This news release is incorporated herein by reference to Exhibit 99
attached hereto.
- ------------------------------------------------------------------------------
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HUNTCO INC.
By: /s/ Anthony J. Verkruyse
-------------------------------------
Anthony J. Verkruyse,
Vice President & CFO
Date: December 10, 1999
- ------------------------------------------------------------------------------
EXHIBIT INDEX
These Exhibits are numbered in accordance with the Exhibit Table of Item
601 of Regulation S-K:
Exhibit No. Description
----------- -----------------------------------
99 News release of December 10, 1999
<PAGE> 1
HUNTCO INC.
14323 SOUTH OUTER FORTY - SUITE 600N
TOWN & COUNTRY, MISSOURI 63017
NEWS RELEASE
FOR IMMEDIATE RELEASE:
HUNTCO ANNOUNCES SALE OF ITS SOUTH CAROLINA FACILITY.
TOWN & COUNTRY, MISSOURI, December 10, 1999 . . . . . Huntco Inc.
(NYSE:"HCO"), today announced that its subsidiary, Huntco Steel, Inc., agreed
to sell its steel processing facility and related inventory, located in Mount
Pleasant, South Carolina, to Feralloy Corporation. The plant facility, which
operates a cut-to-length line and a slitting line, both of which were leased
pursuant to operating leases, was newly constructed by Huntco Steel, Inc. and
opened late in the fourth quarter of 1996. The sale should be finalized on
December 15, 1999.
While specific terms of the transaction were not released, the company
indicated that the sale would result in a net loss of approximately $1.1
million, or $.12 per share, which will be recognized in the fourth quarter.
The cash proceeds from the sale of the real property and inventory, plus
proceeds from the collection of trade accounts receivable related to this
operation, which were retained by Huntco Steel, Inc., are expected to total
approximately $17.0 million, which amount will be used to retire debt.
Huntco Inc. is a major, intermediate steel processor, specializing in the
processing of flat rolled carbon steel.
