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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) MAY 27, 1999
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ANCHOR GLASS CONTAINER CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
0-23359 59-3417812
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(Commission File Number) (I.R.S. Employer Identification No.)
ONE ANCHOR PLAZA, 4343 ANCHOR PLAZA PARKWAY, TAMPA, FLORIDA 33634-7513
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(Address of Principal Executive Offices) (Zip Code)
(813) 884-0000
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS.
This Current Report on Form 8-K is being filed with the
Securities and Exchange Commission by Anchor Glass Container Corporation (the
"Company") for the purpose of providing the information set forth in a press
release issued on May 27, 1999, a copy of which is filed as Exhibit 99.1 hereto
and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(a) Financial Statement of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
The following exhibits are filed herewith:
99.1 Press Release issued on May 27, 1999.
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SIGNATURES
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.
ANCHOR GLASS CONTAINER CORPORATION
By: /s/ M. William Lightner
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M. William Lightner
Senior Vice President -- Finance,
Chief Financial Officer and Treasurer
Date: June 7, 1998
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EXHIBIT INDEX
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Exhibit
Number Description
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99.1 Press Release issued on May 27, 1999
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ANCHOR GLASS AWARDED EXCLUSIVE SUPPLY CONTRACT FOR ANHEUSER-BUSCH BREWERIES IN
SOUTHEAST
Five-Year Contract Could Boost Anchor Sales as Much as 10 Percent; Anchor
Plants in Jacksonville, Fl., and Warner Robins, Ga., to Increase Supplies to
Nearby Breweries of Nation's Largest User of Glass Bottles.
TAMPA, Fla., May 27/PRNewswire/ -- Anchor Glass Container Corporation has
signed an agreement with Anheuser-Busch, Inc., to provide all the bottles for
the brewer's Jacksonville, Fla., and Cartersville, Ga., breweries, beginning in
January 2001. The order, which has a five-year minimum term, could increase
Anchor's sales by as much as 10 percent, according to the company, Anticipated
annual revenues from the order could amount to more than 20 percent of Anchor's
current sales.
"The contract shows Anheuser-Busch's confidence in us," said Anchor
Chairman John J. Ghaznavi. Ghaznavi said he believes the exclusive, long-term
supply agreement reflects a mutually beneficial relationship between the
companies.
To meet the expanded demand from the supply contract, Anchor will invest
approximately $45 million in new equipment for its Jacksonville, Fla., and
Warner Robins, Ga., plants over the next 18 months to increase production
efficiency. The two plants already devote a substantial percentage of their
capacity to supplying the nearby Anheuser-Busch breweries. The modernization
will make the Anchor facilities two of the most cost-competitive glass
manufacturing plants in the nation.
Because of the plants' productivity and their proximity to the breweries,
"Anchor's profit margins will improve significantly," said Richard M. Deneau,
President of Anchor. "This is a major step in Anchor's return to profitability."
To accommodate the expanded volume for Anheuser-Busch, Anchor will shift
much of its production for other customers at Jacksonville and Warner Robins to
its plants in the Northeast. Anchor plants in Salem, N.J.,, and Elmira, N.Y.,
which are closer to customer facilities, will take on the reassigned production.
These changes will provide further margin improvement for Anchor.
The order reflects the increasing need of market leader Anheuser-Busch for
glass bottles. Beer industry sales in the U.S. jumped in the first quarter of
1999 and are expected to continue rising in response to the strong economy and
demographic trends.
Anchor Glass Container Corporation, the third-largest manufacturer of glass
containers in the U.S., supplies beverage and food producers and consumer
products manufacturers nationwide. Based in Tampa, Fla., Anchor employs 4,500 at
ten U.S. locations. Parent company Consumers Packaging (Toronto: CGC) is a
leading international designer and manufacturer of glass containers.
This news release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Exchange Act of 1934, as amended. Forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond Anchor's control.
Forward-looking statements are typically identified by words such as "could,"
"will," "believe" and "anticipate." They concern topics such as Anchor's capital
expenditures, its ability to obtain financing and service debt, competitive
pressures and trends in the glass container industry, and general economic
conditions.
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Actual results could differ materially from those contemplated by these
forward-looking statements. In light of the risks and uncertainties, there can
be no assurance that the results and events contemplated by the forward-looking
information contained in this news release will in fact occur.
