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):
December 31, 1998
REYNOLDS METALS COMPANY
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(Exact name of Registrant as specified in its charter)
Delaware 001-01430 54-0355135
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification Number)
6601 West Broad Street
P.O. Box 27003
Richmond, Virginia 23261-7003
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(Address of Principal Executive Offices,
including zip code)
(804) 281-2000
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(Registrant's Telephone Number, including area code)
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Item 5. OTHER EVENTS
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A pro forma statement of income (unaudited) for the year
ended December 31, 1998 in connection with the disposition of the
Registrant's North American aluminum beverage can operations on
August 10, 1998 is presented at Exhibit 99 of this report.
As previously reported, on August 10, 1998, the Registrant
completed the sale of its North American aluminum beverage can
operations to Ball Corporation for $746 million in cash.
The disposition was made pursuant to the Asset Purchase Agreement,
dated as of April 22, 1998, by and among Ball, Ball Metal Beverage
Container Corp. and the Registrant. The purchase price was
determined by arms-length negotiation between the Registrant and
Ball. The Registrant realized an after-tax gain of $200 million
on the sale.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
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c) Exhibits.
Exhibit 99 - Pro Forma Statement of Income (Unaudited)
for the year ended December 31, 1998
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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.
REYNOLDS METALS COMPANY
By: ALLEN M. EAREHART
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Allen M. Earehart
Senior Vice President and Controller
Dated: October 20, 1999
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