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)
JULY 22, 2002
Halliburton Company
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number Identification
of incorporation Number
Delaware 1-3492 No. 75-2677995
3600 Lincoln Plaza
500 North Akard Street
Dallas, Texas 75201-3391
(Address of principal executive offices)
Registrant's telephone number,
including area code - 214/978-2600
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INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The registrant may, at its option, report under this item any events, with
respect to which information is not otherwise called for by this form that the
registrant deems of importance to security holders.
On July 22, 2002 registrant issued a press release entitled "Halliburton To
Sell Interest In Joint Venture", pertaining to an announcement that registrant
has signed a letter of intent to sell its 50% interest in Bredero-Shaw to its
partner, ShawCor Ltd. for $150 million comprised of cash, stock and a short-term
note. The transaction is subject to approval by the respective Boards of
Directors, execution of definitive agreements and regulatory approvals.
Registrant will recognize a pre-tax loss of $61 million or $0.14 per diluted
share.
Item 7. Financial Statements and Exhibits
List below the financial statements, pro forma financial information and
exhibits, if any, filed as part of this report.
(c) Exhibits.
Exhibit 20 - Press release dated July 22, 2002.
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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.
HALLIBURTON COMPANY
Date: July 22, 2002 By: /s/ Susan S. Keith
--------------------------------
Susan S. Keith
Vice President and Secretary
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EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of 5 of 5
July 22, 2002
Incorporated by Reference
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FOR IMMEDIATE RELEASE Contact: Cedric Burgher
July 22, 2002 Vice President, Investor Relations
713-676-4608
Wendy Hall
Manager, Media Relations
713-676-5227
HALLIBURTON TO SELL INTEREST IN JOINT VENTURE
DALLAS -- Halliburton (NYSE:HAL) announced today that it has signed a
letter of intent to sell its 50% interest in Bredero-Shaw to its partner,
ShawCor Ltd. (SCL.A/TSE) for $150 million comprised of cash, stock and a
short-term note. The transaction is subject to approval by the respective Boards
of Directors, execution of definitive agreements, and regulatory approvals.
Bredero-Shaw, which is accounted for using the equity method, contributed
approximately $4 million, or $.01 per share to Halliburton net income in 2001.
The sale of Bredero-Shaw, which is in the pipe coating business, is the first of
the company's previously announced plan to divest non-strategic assets. In
connection with this decision, the Company will recognize a pretax loss of $61
million or $0.14 per diluted share. Other sales are expected to be concluded by
year end and total proceeds are not expected to exceed $500 million.
Halliburton, founded in 1919, is one of the world's largest providers of
products and services to the petroleum and energy industries. The Company serves
its customers with a broad range of products and services through its Energy
Services Group and Engineering and Construction Group business segments. The
Company's World Wide Web site can be accessed at www.halliburton.com.
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