-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P55EFqfjZ642dzqcKJtA7c7ZggoDQ7/040RPJ2k8aurkRVmvnxr4KJZn5LuBdmaK YOcmBbuOOE6SDSFBxv0e3w== 0000011860-01-500030.txt : 20010621 0000011860-01-500030.hdr.sgml : 20010621 ACCESSION NUMBER: 0000011860-01-500030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010620 ITEM INFORMATION: FILED AS OF DATE: 20010620 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BETHLEHEM STEEL CORP /DE/ CENTRAL INDEX KEY: 0000011860 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 240526133 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-01941 FILM NUMBER: 1663761 BUSINESS ADDRESS: STREET 1: 1170 EIGHTH AVE CITY: BETHLEHEM STATE: PA ZIP: 18016-7699 BUSINESS PHONE: 6106942424 MAIL ADDRESS: STREET 1: 1170 EIGHTH AVE CITY: BETHLEHEM STATE: PA ZIP: 18016-7699 8-K 1 eight.txt UNITED STATES 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 June 20, 2001 ------------------ (Date of earliest event reported) BETHLEHEM STEEL CORPORATION --------------------------- (Exact name of Registrant as specified in its charter) Delaware 1-1941 24-0526133 ------------------------------- ------------ ------------------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation) File Number) Identification No.) 1170 Eighth Avenue Bethlehem, Pennsylvania 18016-7699 - ---------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number including area code: (610) 694-2424 -------------- Page 1 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits Exhibit No. Exhibit 99 Press release of Bethlehem Steel Corporation dated June 20, 2001. ITEM 9. REGULATION FD DISCLOSURE On June 20, 2001, Bethlehem Steel Corporation issued a press release concerning its second quarter 2001 outlook. The Press Release is filed as an Exhibit to this Current Report on Form 8-K. Page 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BETHLEHEM STEEL CORPORATION (Registrant) by: /s/ L. A. Arnett ------------------------------------- L. A. Arnett Vice President and Controller (principal accounting officer) Date: June 20, 2001 Page 3 INDEX TO EXHIBITS Exhibit No. Exhibit 99 Press release of Bethlehem Steel Corporation dated June 20, 2001. Page 4 EX-99 2 news.txt Exhibit 99 [Logo of Bethlehem Steel] Bethlehem Steel Corporation Corporate Communications Division Public Affairs Department 1170 Eighth Avenue Bethlehem, PA 18016-7699 (610) 694-3711 - Phone (610) 694-1509 - Fax Internet Homepage Address http://www.bethsteel.com FOR IMMEDIATE RELEASE - -------------------------------------------------------------------------- BETHLEHEM STEEL ISSUES REVISED 2Q2001 OUTLOOK BETHLEHEM, Pa., June 20, 2001 - In its first quarter release, Bethlehem Steel Corporation said, " we expect to report a loss for the second quarter of 2001 that is less than the loss reported for the first quarter of 2001." Bethlehem still expects this to be the case. However, as a result of recent changes in Bethlehem's outlook for the second quarter 2001, Bethlehem is issuing this release in order to modify certain key assumptions relative to its second quarter outlook, which were communicated publicly with the release of its first quarter earnings on April 24, 2001. Bethlehem now believes that: 1. Costs will be lower than the first quarter by about 3%. This reflects lower assumed cost reductions than previously assumed primarily because of the effects of temporarily idling its Hibbing Taconite iron ore mine, unplanned outages and repairs involving certain facilities, and lower operating rates. 2. Product mix will be worse than previously assumed because of continued weakness involving higher value cold rolled and coated products for non-automotive markets and a higher percentage of - 2 - secondary product sales related to expediting the sales of slow moving inventory. 3. Shipments and steel prices are expected to be about the same as previously assumed (i.e., shipments about the same as in the first quarter, and prices, on a constant mix basis, lower by about 1%). 4. It will write-off its equity interest in MetalSite, an Internet marketplace for steel that ceased operations in June. Regarding Bethlehem's new revolving credit agreement, Bethlehem is continuing its efforts to syndicate a satisfactory new agreement. However, since it is unlikely that this can be completed by June 30, 2001, Bethlehem also has initiated a process to obtain an amendment to its existing revolving credit agreement and a waiver of the adjusted consolidated tangible net worth covenant contained therein. Future liquidity will remain dependent upon its sources of financing, completion of asset sales, business conditions and operating performance. This release contains forward-looking statements. Our use of the words "expect", "believe", "intent", "should", "plan" and similar words are intended to identify these statements as forward-looking. In accordance with the provisions of the Private Securities Litigation Reform Act of 1995, reference is made to "Item 1 - Business - Forward - Looking Statements" of Bethlehem's 2000 Annual Report on Form 10-K filed with the Securities and Exchange Commission on January 31, 2001, and to "Cautionary Statement" of Bethlehem's Registration Statement on Form S-4 filed with the Securities and Exchange Commission on April 24, 1998 for important factors that could cause actual results to differ materially from those projected. # - 3 - For more information contact Bethlehem Steel Public Affairs: Bob Bilheimer 610-694-3711. -----END PRIVACY-ENHANCED MESSAGE-----