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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
FEBRUARY 1, 1999
Date of Report (Date of earliest event reported)
ROUGE INDUSTRIES, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 1-12852 38-3340770
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
3001 MILLER ROAD, P. O. BOX 1699, DEARBORN, MI 48121-1699
(Address of Registrant's Principal Executive Offices) (Zip Code)
(313) 317-8900
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On February 2, 1999, Rouge Industries, Inc. (the "Registrant") announced
that an explosion and fire at the Rouge Complex Powerhouse on February 1, 1999
resulted in the interruption of the supply of electricity, process and heating
steam, turbo air, mill water and other utilities to virtually all of the
facilities of its major operating subsidiary, Rouge Steel Company. The loss of
power resulted in a temporary shutdown of steel making facilities and the
Registrant's corporate offices.
On February 4, 1999, the Registrant announced that partial electricity and
steam service had been restored to the Rouge Steel Company facilities through a
combination of new power lines from Detroit Edison and temporary generators and
package boilers.
The Registrant has a substantial insurance program that provides coverage
for damage to property destroyed, interruption of business operations and
expenses incurred to minimize the period of disruption to operations. Although
the full extent of the damage to the Rouge Complex Powerhouse and the resulting
financial effect on the Registrant's operations have not been determined, the
Registrant believes that such damage and losses resulting from interruption of
its operation should be covered by its insurance program.
On February 12, 1999, the Registrant announced that Rouge Steel Company
had resumed limited production at its hot strip mill and cold mills on February
11, 1999. The Registrant's primary operations, including its two blast
furnaces, the basic oxygen furnace and continuous caster, will remain idled
pending the refurbishment and restart of the Powerhouse's turbo air equipment,
which is integral to the operation of the blast furnaces and was housed in the
Powerhouse. The Registrant believes that the blast furnaces will return to
production by April 1, 1999. In advance of the resumption of full production
capacity, the Registrant has purchased an aggregate of 430,000 tons of
semi-finished steel to partially support its automotive order book.
Safe Harbor Statement
This Form 8-K contains forward-looking information about the Registrant.
A number of factors could cause the Registrant's actual results to differ
materially from those anticipated, including the changes in the general
economic climate, the supply of or demand for and the pricing of steel products
in the Registrant's markets, potential environmental liabilities and higher
than expected costs. For further information on these and other factors that
could impact the Registrant and the statements contained herein, reference
should be made to the Registrant's filings with the Securities and Exchange
Commission.
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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.
ROUGE INDUSTRIES, INC.
(Registrant)
Date: February 12, 1999 By: /s/ Gary P. Latendresse
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Name: Gary P. Latendresse
Title: Executive Vice President and
Chief Financial Officer
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