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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THERMO TERRATECH INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-9549 04-2925807
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
81 Wyman Street
Waltham, Massachusetts 02454-9046
(Address of principal executive offices) (Zip Code)
(781) 622-1000
(Registrant's telephone number
including area code)
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 Exhibit 13 to Thermo
TerraTech Inc.'s Annual Report on Form 10-K for the year ended April 4, 1998.
These include risks and uncertainties relating to: dependence of Thermo
TerraTech's businesses on environmental regulation and on sales to government
entities; potential environmental, regulatory, and professional liability;
intense competition; development and commercialization of technology; dependence
on the availability of certain raw materials; possible obsolescence of Thermo
TerraTech's services due to technological change; Thermo TerraTech's acquisition
and spinout strategies; uncertainties associated with the availability of
government funding; the effect of seasonal influences on Thermo TerraTech's
performance; and the potential impact of the year 2000 on processing
date-sensitive information.
Item 5. Other Events
On September 29, 1998, Thermo TerraTech Inc. ("Thermo TerraTech") issued
a press release announcing that it will record pretax restructuring
charges totaling approximately $10 million in its second fiscal quarter,
which ends October 3, 1998. A charge of approximately $9 million will be
incurred as a result of the decision of Thermo TerraTech's ThermoRetec
Corporation subsidiary to close two soil-recycling facilities, which are
located in Richmond, California, and Greenville, South Carolina. Thermo
TerraTech's five other soil-recycling facilities are unaffected by this
action. These charges will reduce second quarter 1999 diluted earnings per
share by approximately $.24. Thermo TerraTech 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.
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.
THERMO TERRATECH INC.
By:/s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer