-----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, DdIzoR3RIsGQ9myhN4fsX7D/D8DUXaPx2bJ/Cmy0jg98ma12yKkV3V3v1791LzeE yjKNrey7W8SB4rhmAviJLA== 0000064394-96-000016.txt : 19961015 0000064394-96-000016.hdr.sgml : 19961015 ACCESSION NUMBER: 0000064394-96-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960930 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961011 SROS: CSX SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEAD CORP CENTRAL INDEX KEY: 0000064394 STANDARD INDUSTRIAL CLASSIFICATION: PAPERBOARD MILLS [2631] IRS NUMBER: 310535759 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02267 FILM NUMBER: 96642800 BUSINESS ADDRESS: STREET 1: MEAD WORLD HEADQUARTERS STREET 2: COURTHOUSE PLZ NORTHEAST CITY: DAYTON STATE: OH ZIP: 45463 BUSINESS PHONE: 5134956323 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): September 30, 1996 THE MEAD CORPORATION (Exact name of registrant as specified in its charter) Ohio 1-2267 31-0535759 (State or Other Jurisdiction (Commission File (I.R.S. Employer of Incorporation) Number) Identification No.) MEAD WORLD HEADQUARTERS COURTHOUSE PLAZA NORTHEAST DAYTON, OHIO 45463 (Address of principal executive offices) 937-495-6323 Registrant's telephone number, including area code Not Applicable (Former name or former address, if changed since last report) ================================================================================ Item 5. Other Events. The Mead Corporation (the "Company") announced on September 30, 1996 that it has signed a definitive agreement to acquire an integrated coated paper mill located in Rumford, Maine, from Boise Cascade for approximately $650 million in cash. The Rumford mill, which will be integrated into Mead's Publishing Paper division, has 667,000 acres of woodlands. Mead intends to finance the acquisition with debt. Attached hereto as Exhibit 1.1 is a press release dated September 30, 1996 detailing the above, which is incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. 1.1 Press release dated September 30, 1996. 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. Date: October 11, 1996 THE MEAD CORPORATION - -------------------- (Registrant) By: WILLIAM R. GRABER ----------------- W. R. Graber Vice President and Chief Financial Officer EXHIBIT INDEX Exhibit Number 1.1 Press release dated September 30, 1996. Exhibit 1.1 Strategic Acquisition Strengthens Mead's Position as a Leading Producer of a Full Range of Coated Papers DAYTON, OH. September 30, 1996 -- The Mead Corporation (NYSE:MEA) today announced it has signed a definitive agreement to acquire an integrated coated paper mill located in Rumford, Maine, from Boise Cascade for approximately $650 million in cash subject to the required government review and regulatory approvals. The addition of the Rumford mill, which primarily manufactures coated paper and has an annual paper and pulp production capacity of 600,000 tons, will strengthen Mead's position as one of the country's leading producers of a full range of coated papers. The Rumford mill also manufactures high-value specialty paper grades and some commodity grades. Mead anticipates that the acquisition will be completed before year- end and that it will be accretive to its 1997 earnings. "The Rumford mill is an outstanding and exciting strategic acquisition for Mead," said Steven C. Mason, Chairman and Chief Executive Officer. "Coated paper is a targeted growth area for Mead -- we know this segment well, have invested heavily in it, and have been successful. The mill complements Mead's two existing coated paper mills, offers important synergies and reinforces Mead's position as a high-quality, low-cost producer of value-added paper." The Rumford mill, which will be integrated into Mead's Publishing Paper division, has 667,000 acres of woodlands, modern equipment, an experienced workforce, and an excellent quality reputation. Mead intends to finance the acquisition with debt, raising Mead's total debt to capital ratio after the acquisition to approximately 38 percent, well within the Company's stated objectives. Mead's two other coated paper mills are located in Escanaba, Michigan, and Chillicothe, Ohio. Said Mason, "With the Rumford mill, Mead and its customers will benefit from increased flexibility made possible by multiple manufacturing locations and a full range of quality coated papers. Also, we believe we can improve market access for Rumford's output and benefit from clear opportunities to improve productivity across our entire coated paper system." Mason added that Mead plans to grow the Rumford mill's specialty paper business as well. The coated paper market is estimated to be growing at approximately 4 percent per year and currently accounts for approximately 10 percent of worldwide paper and paperboard consumption. Typical coated paper products include magazines, books, catalogs, directories, annual reports, yearbooks, advertising brochures and labels. Coated papers typically sell at a premium to other commodity paper grades due to higher value-added content. In 1995, earnings from Mead's paper segment were $330 million on $1.46 billion sales. Mead produced more than 650,000 tons of coated paper in 1995. The Mead Corporation is a $5 billion forest products company celebrating its 150th anniversary in 1996. It produces coated papers for periodicals, catalogs, books, and commercial printing; carbonless copy paper; uncoated and specialty papers; and pulp and wood products. In the packaging and paperboard sector, the Company produces coated paperboard; beverage and food packaging; and corrugating medium and cartons. Mead is a major manufacturer of paper-based school and office products. Mead's Zellerbach division delivers value-added products and services for printing, packaging and industrial supply markets. -----END PRIVACY-ENHANCED MESSAGE-----