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 February 4, 2003 Commission file number 0-784
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DETREX CORPORATION
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(Exact name of registrant as specified in its charter)
Michigan 38-0480840
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
24901 Northwestern Hwy., Ste. 500, Southfield, MI 48075
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (248) 358-5800
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Securities registered pursuant to section 12(b) of the Act:
Name of each exchange on
Title of each class which registered
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None None
Securities registered pursuant to Section (g) of the Act:
Common Capital Stock, $2 Par Value
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(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months and (2) has been subject to such filing requirements for
the past 90 days.
YES X NO
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Item 5. OTHER EVENTS
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The registrant issued the following press release on February 4, 2003:
Detrex Corporation (NASDAQ: DTRX), a diversified manufacturer of chemicals and
allied products, announced that remediation was completed at the Fields Brook
Superfund Site in December 2002. During the final stages of the project,
unanticipated additional contamination was discovered, making it necessary to
perform further remediation which drove costs significantly over previous
estimates. Detrex's share of the increased costs was approximately $900,000.
Primarily as a result of this occurrence and the reevaluation of other amounts
within the environmental reserve, the reserve was increased by $725,000 and a
charge in a similar amount will be reflected in the year-end results.
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Statements included in this press release that are not historical in nature are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "1995 Act"). The words "believe," "expect,"
"anticipate," "estimate," "guidance," "target" and similar expressions identify
forward-looking statements. The Company cautions readers that forward-looking
statements are subject to certain risks and uncertainties, which could cause
actual results to differ materially from those projected in the forward-looking
statements. Certain risks and uncertainties are identified from time to time in
the Company's reports filed with the SEC. Some factors that could cause results
to differ materially from those projected in the forward-looking statements
include: market conditions, environmental remediation costs, liquidation value
of assets, and marketability of real estate. The Company claims the protection
of the safe harbor for forward-looking statements contained in the 1995 Act.
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.
DETREX CORPORATION
/s/ Thomas E. Mark /s/ Steven J. Quinlan
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Thomas E. Mark Steven J. Quinlan
President and Vice President, Finance,
Chief Executive Officer Chief Financial Officer & Treasurer
Dated: February 4, 2003
Detrex Corporation Reports Increased Remediation Costs
SOUTHFIELD, Mich.--(BUSINESS WIRE)--Feb. 4, 2003--Detrex Corporation
(Nasdaq:DTRX), a diversified manufacturer of chemicals and allied products,
announced that remediation was completed at the Fields Brook Superfund Site in
December 2002. During the final stages of the project, unanticipated additional
contamination was discovered, making it necessary to perform further remediation
which drove costs significantly over previous estimates. Detrex's share of the
increased costs was approximately $900,000. Primarily as a result of this
occurrence and the reevaluation of other amounts within the environmental
reserve, the reserve was increased by $725,000 and a charge in a similar amount
will be reflected in the year-end results.
Statements included in this press release that are not historical in nature
are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "1995 Act"). The words "believe," "expect,"
"anticipate," "estimate," "guidance," "target" and similar expressions identify
forward-looking statements. The Company cautions readers that forward-looking
statements are subject to certain risks and uncertainties, which could cause
actual results to differ materially from those projected in the forward-looking
statements. Certain risks and uncertainties are identified from time to time in
the Company's reports filed with the SEC. Some factors that could cause results
to differ materially from those projected in the forward-looking statements
include: market conditions, environmental remediation costs, liquidation value
of assets, and marketability of real estate. The Company claims the protection
of the safe harbor for forward-looking statements contained in the 1995 Act.
CONTACT: Detrex Corporation
Steven J. Quinlan, 248/358-5800
Fax: 248/358-5803