SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 29, 1998
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THERMORETEC CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-12636 59-3203761
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
Damonmill Square
9 Pond Lane, Suite 5A
Concord, Massachusetts 01742-2851
(Address of principal executive offices) (Zip Code)
(978) 371-3200
(Registrant's telephone number
including area code)
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This Form 8-K contains forward-looking statements that involve a number of
risks and uncertainties. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements are
set forth under the heading "Forward-looking Statements" in ThermoRetec
Corporation's annual report on Form 10-K for the fiscal year ended April 4,
1998. These include risks and uncertainties relating to: dependence of
ThermoRetec's businesses on environmental regulation, potential environmental
and regulatory liability, intense competition, development and commercialization
of technology, possible obsolescence of ThermoRetec's services due to
technological change, risks associated with ThermoRetec's acquisition strategy,
uncertainties associated with the availability of government funding, the effect
of seasonal influences on ThermoRetec's performance, and the potential impact of
the year 2000 on processing date-sensitive information.
Item 5. Other Events
On September 29, 1998, ThermoRetec Corporation ("ThermoRetec") announced
that it will record a pretax restructuring charge of approximately $9 million
during its second fiscal quarter, which ends October 3, 1998. The charge will be
incurred as a result of ThermoRetec's decision to close two soil-recycling
facilities, which are located in Richmond, California, and Greenville, South
Carolina. ThermoRetec's five other soil-recycling facilities are unaffected by
this action. These charges will reduce second quarter 1999 diluted earnings per
share by approximately $.45. ThermoRetec estimates that these actions will
result in calendar 1999 operating savings of at least $1 million.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: not
applicable.
(b) Pro Forma Financial Information: not applicable.
(c) Exhibits: not applicable.
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SIGNATURE
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, thereunto duly authorized, on this 29th day of September, 1998.
THERMORETEC CORPORATION
By:/s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
