Item 8.01 - Other Events.
On March 30, 2020, PBF Energy Inc. (together with its consolidated subsidiaries,
the "Company") issued a press release announcing a number of decisive steps
taken as part of a strategic plan for the Company to navigate current
extraordinary and volatile markets, including a planned sale of five specified
hydrogen plants, reduction in 2020 cash outlays through lowered capital and
operating expenses, dividend suspension and other deferrals.
A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
Forward-Looking Statements
Statements in this press release relating to future plans, results, performance,
expectations, achievements and the like are considered "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, without limitation, the
company's post-acquisition plans, objectives, expectations and intentions with
respect to future earnings and operations of the Martinez refinery and/or its
West Coast operations, including the renewable fuels project. These
forward-looking statements involve known and unknown risks, uncertainties and
other factors, many of which may be beyond the company's control, that may cause
actual results to differ materially from any future results, performance or
achievements expressed or implied by the forward-looking statements. Factors and
uncertainties that may cause actual results to differ include but are not
limited to the risks disclosed in the company's filings with the SEC. All
forward-looking statements speak only as of the date hereof. The company
undertakes no obligation to revise or update any forward-looking statements
except as may be required by applicable law.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press release dated March 30, 2020
104 Cover Page Interactive Data File (formatted as Inline XBRL).
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses