Securities and Exchange Commission
Washington, D.C. 20549
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): January 13, 2003
P. H. GLATFELTER COMPANY
- -------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Pennsylvania 1-3560 23-0628360
(State or Other (Commission File (IRS Employer
Jurisdiction of Incorporation) Number) Identification No.)
96 South George Street, Suite 500; York, PA 17401
- -------------------------------------------------------------------------------
(Address of Principal (Zip Code)
Executive Offices)
(717) 225-4711
- -------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
Not Applicable
- -------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
We have reported previously regarding certain environmental matters
related to the lower Fox River and the Bay of Green Bay in Wisconsin. On
January 7, 2003, the Wisconsin Department of Natural Resources ("WDNR") issued a
Record of Decision ("ROD") in which the United States Environmental Protection
Agency ("EPA") concurred setting forth the agencies' decision on how to address
sediment contamination in two reaches of the lower Fox River under the federal
Superfund statute. One of the reaches is Little Lake Butte des Morts, which is
adjacent to our Neenah, Wisconsin facility. This ROD does not address the entire
lower Fox River or the Bay of Green Bay nor does it place any value on claims
for Natural Resource Damages associated with this matter. EPA has previously
asserted that six other companies and we are potentially responsible for the
sediment contamination in the lower Fox River and the Bay of Green Bay.
Subject to extenuating circumstances and alternative solutions arising
during the cleanup, the ROD requires the removal of approximately 750,000 cubic
yards of sediment from Little Lake Butte des Morts. The ROD also requires the
monitoring of Little Lake Butte des Morts and a second downstream reach of the
river. WDNR and EPA estimate that the remedy for these two reaches will cost
approximately $75 million but could cost within a range from approximately $52
million to $112 million. The $75 million estimate is approximately the same
amount estimated for this section of the river in the Proposed Remedial Action
Plan issued in October, 2001 related to this matter. We are analyzing the ROD to
determine its potential impact on the Company, but believe that our accrual for
this matter will remain unchanged. At this point, we do not foresee that it will
be necessary to make significant changes to disclosures we have previously made
related to this issue; however, our review of the ROD may reveal that certain
changes to our disclosures are necessary.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
P. H. GLATFELTER COMPANY
(Registrant)
By: /s/ Robert P. Newcomer
----------------------
Title: President, Chief Operating Officer
and Acting Chief Financial Officer