8-KThe WireRoutine
Company Update
Filed Aug 1, 2019 · 7y ago · Accession 0001144204-19-037215
Plain English
Material event — a significant development the company must disclose promptly.
Read the source below for the full document.
Filing text
View original ↗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
August 1, 2019
Date of Report (Date of earliest event
reported)
QUAKER CHEMICAL CORPORATION
(Exact name of Registrant as specified
in its charter)
Commission File Number 001-12019
PENNSYLVANIA
No. 23-0993790
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
One Quaker Park
901 E. Hector Street
Conshohocken, Pennsylvania 19428
(Address of principal executive offices)
(Zip Code)
(610) 832-4000
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which
registered
Common Stock, $1 par value
KWR
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
INFORMATION TO BE INCLUDED IN THE REPORT
Item 8.01
Other Events.
On April 4, 2017, Quaker Chemical
Corporation, a Pennsylvania corporation (the “ Company ”), entered into a Share Purchase Agreement (the
“ Share Purchase Agreement ”) with Gulf Houghton Lubricants, Ltd., an exempted company incorporated under
the laws of the Cayman Islands (“ Gulf Houghton ”), Global Houghton Ltd., an exempted company incorporated
under the laws of the Cayman Islands (“ Global Houghton ”), and certain members of the management of Global
Houghton (collectively with Gulf Houghton, the “ Sellers ”) and Gulf Houghton, as agent for the Sellers. On
August 1, 2019, the parties consummated the transactions contemplated by the Share Purchase Agreement, substantially pursuant
to the terms and conditions set forth in the Share Purchase Agreement. The Share Purchase Agreement was filed with the
Securities and Exchange Commission (“ SEC ”) as an exhibit to the Company’s Current Report on Form 8-K
filed on April 5, 2017, and is incorporated by reference as an exhibit to the Company’s latest Annual Report on Form
10-K, as amended.
The Company released a press release providing
information about the closing of the transactions on August 1, 2019. A copy of that document is attached hereto as Exhibit 99.1
and is incorporated herein by reference.
The Company made available on its website
a slide presentation providing information about the closing of the transactions on August 1, 2019. A copy of that document is
attached hereto as Exhibit 99.2 and is incorporated herein by reference.
The information required by Item 2.01
will be filed in a separate Current Report on Form 8-K.
Item 9.01.
Financial Statements and Exhibits.
The following exhibits are included as part of this report:
Exhibit
No.
Description
99.1
Press Release, dated August 1,
2019 (furnished herewith).
99.2
Slide Presentation, dated
August 1, 2019 (furnished herewith).
Cautionary Statement Regarding Forward Looking Statements
This Current Report on Form 8-K contains
“forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the fact that they do
not relate strictly to historical or current facts. We have based these forward-looking statements on our current
expectations about future events. These forward-looking statements include statements with respect to our beliefs, plans,
objectives, goals, expectations, anticipations, intentions, financial condition, results of operations, future performance,
and business, including but not limited to statements relating to the potential benefits of the combination described above,
our current and future results and plans, and statements that include the words “may,” “could,”
“should,” “would,” “believe,” “expect,” “anticipate,”
“estimate,” “intend,” “plan” or similar expressions. These forward-looking statements are
subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such
statements. A major risk is that demand for the Company’s products and services is largely derived from the demand for
its customers’ products, which subjects the Company to uncertainties related to downturns in a customer’s
business and unanticipated customer production shutdowns. Other major risks and uncertainties include, but are not limited
to, significant increases in raw material costs, customer financial stability, worldwide economic and political conditions,
foreign currency fluctuations, significant changes in applicable tax rates and regulations, future terrorist attacks and
other acts of violence. Furthermore, the Company is subject to the same business cycles as those experienced by steel,
automobile, aircraft, appliance, and durable goods manufacturers. Our forward-looking statements are subject to risks,
uncertainties and assumptions about the Company and its operations that are subject to change based on various important
factors, some of which are beyond our control. These risks, uncertainties, and possible inaccurate assumptions relevant to
the Company’s business could cause its actual results to differ materially from expected and historical results. Other
factors beyond those discussed in this Current Report could also adversely affect us including, but not limited to, the
following related to the combination described above:
• potential adverse effects on the Company’s business, properties or operations caused by the implementation of the combination;
• the Company’s ability to promptly, efficiently and effectively integrate the operations of Global Houghton and the Company;
• the ability to develop or modify financial reporting, information systems and other related financial tools to ensure overall
financial integrity and adequacy of internal control procedures;
• the ability to identify and take advantage of potential synergies, including cost reduction opportunities, while maintaining
legacy business and other related attributes;
• difficulties in managing a larger, combined company, addressing differences in business culture and retaining key personnel;
• risks related to each company’s distraction from ongoing business operations due to the combination; and
• the outcome of any legal proceedings that may be instituted against the companies related to the combination.
Therefore, we caution you not to place undue reliance on our
forward-looking statements. For more information regarding these risks and uncertainties as well as certain additional risks that
we face, you should refer to the Risk Factors detailed in Item 1A of our Form 10-K for the year ended December 31, 2018, as amended,
and in our quarterly and other reports filed from time to time with the SEC. We do not intend to, and we disclaim any duty or obligation
to, update or revise any forward-looking statements to reflect new information or future events or for any other reason. This discussion
is provided as permitted by the Private Securities Litigation Reform Act of 1995.
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 hereunto duly authorized.
QUAKER CHEMICAL CORPORATION
Date: August 1, 2019
By:
/s/ Robert T. Traub
Robert T. Traub
Senior Vice President, General Counsel
and Corporate Secretary
Filing details
- Company
- QUAKER CHEMICAL CORP
- Ticker
- KWR
- CIK
- 81362
- Form type
- 8-K
- Filing date
- Aug 1, 2019
- Report date
- Aug 1, 2019
- Document
- tv526448_8k.htm
- Size
- 11.8 MB