-----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, FICal5AA8Y0Nmi2GgAjHmFoQ45vUVQlyqiBbD+4ExTJoT/zIjD9EQH/bdwB9ZVCc AgcL73V7YjB+nmLH5PEYZQ== 0000731939-03-000050.txt : 20031120 0000731939-03-000050.hdr.sgml : 20031120 20031120091418 ACCESSION NUMBER: 0000731939-03-000050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031120 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20031120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEMPLE INLAND INC CENTRAL INDEX KEY: 0000731939 STANDARD INDUSTRIAL CLASSIFICATION: PAPERBOARD MILLS [2631] IRS NUMBER: 751903917 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08634 FILM NUMBER: 031014291 BUSINESS ADDRESS: STREET 1: 1300 MOPAC EXPRESSWAY SOUTH CITY: AUSTIN STATE: TX ZIP: 78746 BUSINESS PHONE: 5124345800 MAIL ADDRESS: STREET 1: 1300 MOPAC EXPRESSWAY SOUTH CITY: AUSTIN STATE: TX ZIP: 78746 8-K 1 tin8kcpcosts112003.txt FORM 8-K FOR PRESS RELEASE ON CORRUGATED PACKAGING COSTS 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: November 20, 2003 (Date of earliest event reported) TEMPLE-INLAND INC. (Exact Name of Registrant as Specified in its Charter) Delaware 001-08634 75-1903917 (State or Other (Commission (IRS Employer Jurisdiction File Number) Identification No.) of Incorporation) 1300 South MoPac Expressway, Austin, Texas 78746 (Address of Principal Executive Offices) (512) 434-5800 (Registrant's telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) 2 Item 7. Exhibits. (c) Exhibits. 99.1 Press release issued by Temple-Inland Inc. (the "Company") on November 20, 2003, announcing initiatives to cut costs and improve asset utilization in its corrugated packaging converting operation. Item 9. Regulation FD Disclosure. On November 20, 2003, the Company issued a press release announcing initiatives to cut costs and improve asset utilization in its corrugated packaging converting operation. A copy of this press release is attached as Exhibit 99.1 and incorporated herein by reference. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TEMPLE-INLAND INC. Date: November 20, 2003 By: /s/ M. Richard Warner ---------------------------- Name: M. Richard Warner Title: President 3 EXHIBIT INDEX Exhibit Description Page - ------- ----------- ---- 99.1 Press release issued by the Company on November 4 20, 2003, announcing initiatives to cut costs and improve asset utilization in its corrugated packaging converting operation. EX-99 3 tincppr11202003.txt PRESS RELEASE ON CORRUGATED PACKAGING COSTS [TEMPLE-INLAND INC. LOGO] NEWS RELEASE----------------------------------------------------------- FOR IMMEDIATE RELEASE CONTACT: Doyle R. Simons (512) 434-3737 TEMPLE-INLAND INC. TO CUT COSTS AND IMPROVE ASSET UTILIZATION IN CORRUGATED PACKAGING AUSTIN, TEXAS, November 20, 2003 - Temple-Inland Inc. today announced the following initiatives in its corrugated packaging converting operation: - The company will reduce costs by implementing organizational changes and eliminating approximately 300 positions. These changes will be made by the end of 2003 and annual savings of approximately $20 million will be realized in 2004. The company expects to take a pre-tax charge of approximately $10 to $15 million in fourth quarter 2003 as a result of this initiative. - The company will further lower costs and improve profitability over the next 18 to 24 months by consolidating converting facilities, eliminating additional positions and improving asset utilization. These initiatives will result in additional annual cost savings of approximately $40 million. The amount and timing of the one-time expenses associated with these actions will be finalized next year. "The cost reduction steps we are taking today in our corrugated packaging converting operation will result in improved earnings and returns and better position our company for success. These steps are in addition to the cost reduction actions we have taken in Project TIP and in our mills," said Kenneth M. Jastrow, II, chairman and chief executive officer of Temple-Inland Inc. "Our consolidation efforts will not affect service to customers as we are able to eliminate duplication and capitalize on synergy benefits from our large, nationwide box plant system. Our past technology investments allow us to more efficiently and effectively serve new and existing customers and facilitate consolidation. These initiatives will help maximize utilization of our converting facilities, lower costs, better match converting capacity with demand and maintain availability for future growth." Temple-Inland Inc. is a major manufacturer of corrugated packaging and building products, with a diversified financial services operation. The Company's 2.1 million acres of forestland are certified as managed in compliance with ISO 14001 and in accordance with the Sustainable Forestry Initiativer (SFI) program of the American Forest & Paper Association to ensure forest management is conducted in a scientifically sound and environmentally sensitive manner. Temple-Inland's common stock (TIN) is traded on the New York Stock Exchange and the Pacific Exchange. Temple-Inland's address on the World Wide Web is www.templeinland.com. This release contains forward-looking statements that involve risks and uncertainties. The actual results achieved by Temple-Inland may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include general economic, market, or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Temple-Inland and its subsidiaries; competitive actions by other companies; changes in laws or regulations; the accuracy of certain judgments and estimates concerning the integration of Gaylord into the operations of the company; the accuracy of certain judgments and estimates concerning the Company's consolidation and supply chain initiatives and other cost reduction steps; and other factors, many of which are beyond the control of Temple-Inland and its subsidiaries. -----END PRIVACY-ENHANCED MESSAGE-----