-----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, D29vwdX4+E6CbMZg0bUKHp/68UeuOLDAVko1AryqXvPYVkvKreAPKoRX6nuYz6un 5Zut2Rq54jjn3+BZKq8kYA== 0000950137-98-000910.txt : 19980309 0000950137-98-000910.hdr.sgml : 19980309 ACCESSION NUMBER: 0000950137-98-000910 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980303 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980306 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL BINDING CORP CENTRAL INDEX KEY: 0000040461 STANDARD INDUSTRIAL CLASSIFICATION: OFFICE MACHINES, NEC [3579] IRS NUMBER: 360887470 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-02604 FILM NUMBER: 98559442 BUSINESS ADDRESS: STREET 1: ONE GBC PLZ CITY: NORTHBROOK STATE: IL ZIP: 60062 BUSINESS PHONE: 7082723700 MAIL ADDRESS: STREET 1: ONE GBC PLZ CITY: NORHBROOK STATE: IL ZIP: 60062 8-K 1 FORM 8-K 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 Date of Report (Date of earliest event reported) March 3, 1998 (February 27, 1998). GENERAL BINDING CORPORATION (Exact name of registrant as specified in its charter) Delaware 0-2604 36-0887470 -------- ------ ---------- (State or other juris- (Commission (IRS Employer diction of in- File Number) Identification No.) corporation) One GBC Plaza Northbrook, Illinois 60062 -------------------- ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (847) 272-3700 2 Form 8-K Current Report For the Month of February, 1998 Item 5. Other Events. On February 27, 1998 the Registrant announced that it had completed its acquisition of all of the capital stock of Ibico, AG, based in Zurich, Switzerland. The Registrant had previously reported on Form 8-K dated October 20, 1997 its intentions to complete this purchase. Item 7. Exhibits. 1. Press Release of February 27, 1998. 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. General Binding Corporation --------------------------- (Registrant) Date: March 3, 1998 /s/ Steven Rubin --------------------------- Steven Rubin, Vice President, Secretary and General Counsel EX-99.1 2 PRESS RELEASE 1 EXHIBIT 99.1 [ GBC NEWS LETTERHEAD ] Contact: Paul J. Bors Corporate Treasurer (847) 291-6187 GBC COMPLETES IBICO ACQUISITION Northbrook, IL, February 27, 1998 -- General Binding Corporation (NASDAQ: GBND) today announced it had completed the acquisition of Ibico AG, a privately-held manufacturer and marketer of document binding and laminating products. Headquartered in Zurich, Switzerland, Ibico's 1997 worldwide sales were approximately $117 million. Terms of the transaction were not disclosed. Ibico manufactures, sources, and distributes binding machines and supplies, laminators and laminating films, and calculators. It services worldwide markets, with a concentration of sales in Europe and the U.S. through the superstore, wholesale, catalog and distributor channels. The company has manufacturing facilities in Germany, Portugal and Mexico and distribution centers in twelve countries. Its products will continue to be marketed under the Ibico brand name, and the company will become part of GBC's Office Products Group, headed by Group President Howard Green. According to GBC President and CEO Govi Reddy, "the Ibico acquisition will provide GBC with greater critical mass to respond to the needs of its significant office products customers, particularly within their consolidating channels of distribution. It brings established relationships with existing and new key customers, a manufacturing base and strong market presence in Europe to strengthen existing GBC operations, access to new products and technologies, additional purchasing and manufacturing leverage, and highly-capable individuals to strengthen our global management team." Reddy said that the Ibico acquisition "further underscores GBC's commitment to strengthening its position in its various markets, and we continue to look for opportunities to expand our product lines, extend our geographic scope, realize synergies in product development, manufacturing and distribution, and leverage purchasing power to reduce costs for our customers through internal growth and strategic acquisitions," adding that "combining Ibico's sales with more... 2 GBC's 1997 sales of $700 million puts us on course to profitably reach $1 billion of revenues ahead of our target date of the year 2000." GBC is an innovative global technology leader in document finishing, paper shredding systems, film laminating and visual communications products. GBC's products are marketed under the GBC, Quartet, Ibico, VeloBind, Shredmaster, Bates, Sickinger, Pro-Tech, Fordigraph and U.S. RingBinder brand names and are used in the commercial, business, education, home office and government markets. ### The foregoing forward-looking statements are based upon various assumptions, and certain risks and uncertainties could cause actual results to differ materially from those stated. GBC assumes no obligation to update its forward-looking statements. -----END PRIVACY-ENHANCED MESSAGE-----