-----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, AHtQwfYlVv5vdTK1kILTXjbh8BIlHMVMa6+qEL+XMonQDt+kkPsFW3joyR5epa+a QNxMfzaTMMWbPjwnVk7V2g== 0001013816-04-000084.txt : 20040130 0001013816-04-000084.hdr.sgml : 20040130 20040130172653 ACCESSION NUMBER: 0001013816-04-000084 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040130 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040130 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: 1934 Act SEC FILE NUMBER: 333-40067 FILM NUMBER: 04556863 BUSINESS ADDRESS: STREET 1: 1475 WOODFIELD ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 BUSINESS PHONE: 8479693300 MAIL ADDRESS: STREET 1: 1475 WOODFIELD ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 FORMER COMPANY: FORMER CONFORMED NAME: HUNTSMAN PACKAGING CORP DATE OF NAME CHANGE: 19971110 8-K 1 form8k_13004.txt FORM 8K - -------------------------------------------------------------------------------- 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) JANUARY 30, 2004 ---------------------- PLIANT CORPORATION (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) UTAH 333-40067 87-0496065 (STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER OF INCORPORATION) IDENTIFICATION NO.) 1475 WOODFIELD ROAD, SUITE 700 SCHAUMBURG, IL 60173 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES INCLUDING ZIP CODE) (847) 969-3300 (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) N.A. (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) - -------------------------------------------------------------------------------- ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits EXHIBIT NO. DESCRIPTION - ----------- ----------- 99.1 Press Release dated January 30, 2004. - -------------------------------------------------------------------------------- ITEM 9. REGULATION FD DISCLOSURE. The press release dated January 30, 2004 attached as an Exhibit to this report is furnished herewith for informational purposes and shall not be deemed filed under the Securities Exchange Act of 1934. DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This report and the attached Exhibit include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other information that is not historical information. When used in this report and the attached Exhibit, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, management's examination of historical operating trends, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. But, management's expectations, beliefs and projections may not be achieved. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this report and the attached Exhibit. Important factors that could cause our actual results to differ materially from the forward-looking statements we make in this report are described in our annual report on Form 10-K for the year ended December 31, 2002 and our registration statement on Form S-4 (File No. 333-86532), as amended. Such risks, uncertainties and other important factors include, among others: o general economic and business conditions, particularly an economic downturn; o continuing losses and charges against earnings resulting from restructurings or the impairment of assets; o industry trends; o risks of high leverage and any increases in our leverage; o interest rate increases; o changes in our ownership structure; o raw material costs and availability, particularly resin; o competition; o the loss of any of our major customers; o changes in demand for our products; o new technologies o changes in distribution channels or competitive conditions in the markets or countries where we operate; o costs and/or complications of integrating any future acquisitions; o loss of our intellectual property rights; o foreign currency fluctuations and devaluations and political instability in our foreign markets; o changes in our business strategy or development plans; o availability, terms and deployment of capital; o labor relations and work stoppages; o availability of qualified personnel; and o increases in the cost of compliance with laws and regulations, including environmental laws and regulations There may be other factors that may cause our actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this report and are expressly qualified in their entirety by the cautionary statements included in this report. We undertake no obligations to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events. - -------------------------------------------------------------------------------- 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. PLIANT CORPORATION Dated: January 30, 2004 BY: /S/ BRIAN E. JOHNSON ----------------------------------- Brian E. Johnson EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER - -------------------------------------------------------------------------------- EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION - ------- ----------- 99.1 Press Release dated January 30, 2004. EX-99 3 form8k_13004ex991.txt EXH. 99.1 PRESS RELEASE EXHIBIT 99.1 January 30, 2004 PLIANT CORPORATION ANNOUNCES IMPROVED OUTLOOK FOR 2004 FOR IMMEDIATE RELEASE SCHAUMBURG, IL -- Pliant Corporation announced today that for the quarter ending March 31, 2004 and year ending December 31, 2004, the Company currently anticipates it will generate overall EBITDA of approximately $25 million and approximately $108 million, respectively, and currently anticipates it will generate free cash flow (net of capital expenditures, cash interest, working capital, cash taxes and pension payments) of approximately $15 million in the year ending December 31, 2004. EBITDA reflects income before interest expense, income taxes, depreciation and amortization. These estimates do not take into account any restructuring charges which may be taken for 2004. We believe EBITDA information enhances understanding of our ability to satisfy principal and interest obligations with respect to our indebtedness and utilize cash for other purposes. EBITDA does not represent and should not be considered as an alternative to net income or cash flows from operating activities as determined by U.S. generally accepted accounting principles and may not be comparable to other similarly titled measures of other companies. This press release does not contain a reconciliation of estimated future EBITDA to estimated future net cash provided by operating activities. These are merely our current estimates of anticipated future results, which cannot be assured. Actual results may vary from these estimates based on a number of factors, many of which will be outside our control. Any variances between currently anticipated results and actual results may be material. We undertake no obligation to update these estimates based upon future circumstances or events. Pliant Corporation is a leading producer of value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. Pliant operates 25 manufacturing and research and development facilities around the world and employs approximately 3,250 people. DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, business trends and other information that is not historical information. When used in this release, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, management's examination of historical operating trends, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. But, management's expectations, beliefs and projections may not be achieved. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this release. Important factors that could cause our actual results to differ materially from the forward-looking statements we make in this release are described in our annual report on Form 10-K for the year ended December 31, 2002 and our registration statement on Form S-4 (File No. 333-86532), as amended. Such risks, uncertainties and other important factors include, among others: o general economic and business conditions, particularly an economic downturn; o continuing losses and charges against earnings resulting from restructurings or the impairment of assets; o industry trends; o risks of high leverage and any increases in our leverage; o interest rate increases; o changes in our ownership structure; o raw material costs and availability, particularly resin; o competition; o the loss of any of our major customers; o changes in demand for our products; o new technologies o changes in distribution channels or competitive conditions in the markets or countries where we operate; o costs and/or complications of integrating any future acquisitions; o loss of our intellectual property rights; o foreign currency fluctuations and devaluations and political instability in our foreign markets; o changes in our business strategy or development plans; o availability, terms and deployment of capital; o labor relations and work stoppages; o availability of qualified personnel; and o increases in the cost of compliance with laws and regulations, including environmental laws and regulations There may be other factors that may cause our actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this release and are expressly qualified in their entirety by the cautionary statements included in this release. We undertake no obligations to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. # # # CONTACTS: John C. McCurdy Director of Corporate Communications Voice: 330.896.6732 Fax: 330.896.6733 E-mail: JOHN.MCCURDY@PLIANTCORP.COM Brian Johnson EVP and Chief Financial Officer Voice: 847.969.3319 E-mail: BRIAN.JOHNSON@PLIANTCORP.COM Company Web Site: www.pliantcorp.com -----END PRIVACY-ENHANCED MESSAGE-----