-----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, WDHo44gGSHLjuzCV83YNFuy3WDYalkzCOmVX4E4rZbkN4rDNQoiVd0CvxPLZK2h2 ntU1QN88HkMdjri1VuO73g== 0000950129-02-005059.txt : 20021017 0000950129-02-005059.hdr.sgml : 20021017 20021017163637 ACCESSION NUMBER: 0000950129-02-005059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021015 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITH INTERNATIONAL INC CENTRAL INDEX KEY: 0000721083 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS CHEMICAL PRODUCTS [2890] IRS NUMBER: 953822631 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08514 FILM NUMBER: 02791769 BUSINESS ADDRESS: STREET 1: 16740 HARDY ST STREET 2: P O BOX 60068 CITY: HOUSTON STATE: TX ZIP: 77032 BUSINESS PHONE: 2814433370 MAIL ADDRESS: STREET 1: 16740 HARDY ST STREET 2: P O BOX 60068 CITY: HOUSTON STATE: TX ZIP: 77205 8-K 1 h00457e8vk.txt SMITH INTERNATIONAL, INC. - DATED 10/15/2002 SMITH INTERNATIONAL, INC. 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 OCTOBER 15, 2002 DATE OF REPORT (Date of earliest event reported) SMITH INTERNATIONAL, INC. (Exact name of Registrant as specified in its charter) DELAWARE 1-8514 95-3822631 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 411 N. SAM HOUSTON PARKWAY, SUITE 600 HOUSTON, TEXAS (Address of principal executive offices) 77060 (Zip Code) (281) 443-3370 (Registrant's telephone number, including area code) ITEM 5: OTHER EVENTS A copy of the press release dated October 15, 2002, announcing the acquisition of CleanCut Technologies, is filed as Exhibit 99.1 and is hereby incorporated herein by reference. ITEM 7. Financial Statements and Exhibits (a) Financial statements of businesses acquired Not applicable. (b) Pro forma financial information Not applicable. (c) Exhibits 99.1 Press Release issued by the Registrant dated October 15, 2002. 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. SMITH INTERNATIONAL, INC. /s/ NEAL S. SUTTON --------------------------------------------- By: Neal S. Sutton Senior Vice President - Administration, General Counsel and Secretary Date: October 17, 2002 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Press Release dated October 15, 2002. EX-99.1 3 h00457exv99w1.txt PRESS RELEASE DATED OCTOBER 15, 2002 EXHIBIT 99.1 PRESS RELEASE - -------------------------------------------------------------------------------- SMITH INTERNATIONAL, INC. P.O. BOX 60068 HOUSTON, TX 77205-0068 WEBSITE ADDRESS: smith.com FOR RELEASE TUESDAY, OCTOBER 15, 2002 CONTACTS: MARGARET K. DORMAN ALEX STEWART SMITH INTERNATIONAL, INC. CLYDE BLOWERS, LTD. CHIEF FINANCIAL OFFICER CHIEF FINANCIAL OFFICER (281) 443-3370 (44) 1355 575000 M-I AND CLYDE BLOWERS ANNOUNCE COMPLETION OF CLEANCUT TRANSACTION HOUSTON, Texas (October 15, 2002)... M-I today announced the acquisition of CleanCut Technologies, a division of Scotland-based Clyde Blowers, Ltd. CleanCut is involved in the design, manufacture and installation of waste collection and transportation systems for offshore drilling operations. In connection with the transaction, M-I issued $33.2 million of cash and notes payable and assumed existing indebtedness of $6.8 million, which has subsequently been repaid. Under the terms of the agreement, the sellers may be entitled to certain additional consideration, which is contingent upon future financial performance. The CleanCut process uses proprietary equipment and technology to transport drill cuttings from the rig to onshore processing facilities. CleanCut's totally enclosed pneumatic system provides a safer and more environmentally acceptable method of storing and transporting drilling waste over other available alternatives. The acquired operations will be integrated into M-I's SWACO unit, which previously served as the exclusive worldwide distributor for CleanCut products. "The CleanCut acquisition adds to our range of value-added waste management services," said Larry Barker, Senior Vice President of M-I SWACO. "CleanCut provides an innovative solution to the task of handling oil-base drill cuttings and offers our customers a system that addresses the safety and environmental aspects. The acquisition is key to our strategy of integrating leading technologies into our waste management portfolio." M-I, a leading supplier of drilling and completion fluid systems and services, solids control equipment and waste management services to the worldwide oilfield industry, is owned 60 percent by Smith International, Inc. (NYSE: SII) and 40 percent by Schlumberger Limited (NYSE: SLB). Clyde Blowers, Ltd., headquartered in East Kilbride, Scotland, manages trading activities and investments, including other material handling businesses in the non-upstream market. -----END PRIVACY-ENHANCED MESSAGE-----