-----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, HJiQSJXeIM6wEBOAaFoh/yLCPCyComFvDZ9tMaeCFAYsxSFG9uu9/3scOXU6PlS7 rdnpMeGGo1pJhM8+yOdXww== 0000950123-01-503546.txt : 20010619 0000950123-01-503546.hdr.sgml : 20010619 ACCESSION NUMBER: 0000950123-01-503546 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010618 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLIANT CORP CENTRAL INDEX KEY: 0001049442 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, FOIL & COATED PAPER BAGS [2673] IRS NUMBER: 870496065 STATE OF INCORPORATION: UT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-40067 FILM NUMBER: 1662589 BUSINESS ADDRESS: STREET 1: 2755 E. COTTONWOOD PARKWAY CITY: SALT LAKE CITY STATE: UT ZIP: 84121 BUSINESS PHONE: 8019938200 MAIL ADDRESS: STREET 1: 2755 E. COTTONWOOD PARKWAY CITY: SALT LAKE CITY STATE: A1 ZIP: 84121 FORMER COMPANY: FORMER CONFORMED NAME: HUNTSMAN PACKAGING CORP DATE OF NAME CHANGE: 19971110 8-K 1 y50581e8-k.txt PLIANT CORPORATION 1 ================================================================================ 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 18, 2001 ------------------------------- (Date of earliest event reported) PLIANT CORPORATION ------------------ (Exact name of registrant as specified in its charter) UTAH 333-40067 87-0496065 - ------------------------------- --------------------- ------------------ (State or other jurisdiction of (Commission File No.) (I.R.S. Employer incorporation or organization) Identification No.) 2755 E. Cottonwood Parkway, Suite 400 Salt Lake City, Utah 84121 (801) 993-8221 --------------------------------------------------------------------------- (Address of principal executive offices and telephone number, including area code) ================================================================================ 2 ITEM 5. OTHER EVENTS On June 18, 2001, Pliant Corporation announced that it has agreed to acquire all of the outstanding shares of common stock of Uniplast Holdings, Inc. for stock of Pliant Corporation and cash in a transaction valued at approximately $55 million, including the assumption of approximately $40 million of debt. Uniplast is a manufacturer of multi-layer packaging films, industrial films and cast-embossed films in the United States and Canada. The closing of the transaction is expected to occur on or before July 31, 2001 and is subject to certain conditions, including government and bank approvals. A copy of the press release issued by Pliant Corporation in connection with the announcement is filed as Exhibit 99.1 to this report and incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA INFORMATION AND EXHIBITS. (c) Exhibits 99.1Press release dated June 18, 2001. 2 3 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 thereunto duly authorized. PLIANT CORPORATION /s/ Jack E. Knott II ----------------------------------------- Jack E. Knott II President and Chief Operating Officer Date: June 18, 2001 3 4 INDEX TO EXHIBITS Exhibits 99.1 Press Release dated June 18, 2001. EX-99.1 2 y50581ex99-1.txt PRESS RELEASE 1 PLIANT CORPORATION AGREES TO ACQUIRE UNIPLAST JUNE 18, 2001 - - SCHAUMBURG, IL - - Pliant Corporation today announced that it has agreed to acquire all of the outstanding shares of common stock of Uniplast Holdings, Inc. for stock of Pliant Corporation and cash in a transaction valued at approximately $55 million, including the assumption of approximately $40 million of debt. Uniplast is a manufacturer of multi-layer packaging films, industrial films and cast-embossed films in the United States and Canada. The closing of the transaction is expected to occur on or before July 31, 2001 and is subject to certain conditions, including government and bank approvals. "We are very excited about the acquisition of Uniplast. The combination of Pliant and Uniplast is consistent with our strategy of growing through internal expansion and through strategic acquisitions, " said Richard P. Durham, Pliant Chairman and Chief Executive Officer. "We look forward to the successful integration of these businesses, which will give us a combined capacity of over 1 billion pounds," he added. Founded in 1984, Uniplast grew through expansions in Canada and acquisitions in the U.S, including the acquisition of Pierson Industries in Palmer, Massachusetts, Turex Industries in Woonsocket, Rhode Island, and PCL Corporation in Columbus, Indiana. Today, Uniplast has annual sales of approximately $100 million and employs nearly 300 people in six plants (two plants in Canada, four in the U.S.). The Uniplast acquisition is the most recent endeavor in Pliant's continuous expansion strategy of growth through strategic business acquisitions. Pliant Corporation, formerly Huntsman Packaging Corporation, was formed in 1992 to acquire Goodyear Tire and Rubber Company's Film Products Division. Since that time, it has acquired and successfully integrated 13 additional film and flexible packaging businesses. Pliant Corporation is one of North America's leading producers of value-added plastic films for flexible packaging, food, personal care, medical, agricultural and industrial applications. With annual sales of approximately $850 million, over 3,000 employees and more than 20 manufacturing and R&D facilities worldwide, Pliant Corporation is committed to delivering superior value to each of its customers. 2 Part of this news release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements. The risks and uncertainties are detailed from time to time in Pliant's reports filed with the Securities and Exchange Commission, including but not limited to Pliant's 2000 Annual Report on Form 10-K. -----END PRIVACY-ENHANCED MESSAGE-----