-----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, HiiA178zGSz360ZbuSG4VILBzw7Iyhjd5FFw0nQ0hCy0n4+yN7E+Nl5rKDPwr0wA pFpxPjw1p/nbjXiu9fiRzA== 0000950123-01-504410.txt : 20010719 0000950123-01-504410.hdr.sgml : 20010719 ACCESSION NUMBER: 0000950123-01-504410 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010716 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010718 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: 1683486 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 y51543e8-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 JULY 16, 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 July 16, 2001, Pliant Corporation announced that it has completed the acquisition of Uniplast, Inc. announced on June 18, 2001. Uniplast is a manufacturer of multilayer packaging films, industrial films and cast-embossed films in the United States and Canada. Pliant Corporation purchased 100% of the outstanding stock of Uniplast Holdings, Inc., based on a valuation of $55 million. The acquisition was financed by drawings under Pliant Corporation's revolving credit facility and approximately $44 million in new equity issued by Pliant Corporation. 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 99.1 Press release dated July 16, 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: July 17, 2001 3 4 INDEX TO EXHIBITS Exhibits 99.1 Press Release dated July 16, 2001. EX-99.1 2 y51543ex99-1.txt PRESS RELEASE 1 PLIANT CORPORATION COMPLETES ACQUISITION OF UNIPLAST SCHAUMBURG, IL, JULY 16, 2001 - - Pliant Corporation has completed the acquisition of Uniplast, Inc. announced on June 18, 2001. Uniplast is a manufacturer of multi-layer packaging films, industrial films and cast-embossed films in the United States and Canada. "Our goal is to become a recognized leader in manufacturing value-added film products. The acquisition of Uniplast is an excellent fit for Pliant. It supports our North American strategy for growth and significantly increases our presence in the Canadian film market, particularly the converter (film) market," said Richard P. Durham, Pliant Chairman and Chief Executive Officer. Pliant Corporation purchased 100% of the outstanding stock of Uniplast Holdings, Inc. based on a valuation of $55 million. The acquisition was financed by drawings under the company's revolving credit facility and approximately $44 million in new equity issued by Pliant Corporation. The shareholders of Uniplast received shares in Pliant Corporation valued at $15 million. Pliant's existing shareholders, led by J.P. Morgan Partners provided a further $29 million in cash equity injection to finance the purchase. In May 2000, J.P. Morgan Partners, formerly Chase Capital Partners, and members of current management purchased Pliant Corporation in a recapitalization transaction valued at $1.065 billion. Pliant 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. 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-----