==============================================
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) August 31, 2000
----------------
VISKASE COMPANIES, INC.
---------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-5485 95-2677354
------------------------------- -------------- ------------------
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification
No.)
6855 West 65th Street, Chicago, Illinois 60638
---------------------------------------- -------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (708) 496-4200
---------------
==============================================
Page 1 of Pages
Item 2. Acquisition or Disposition of Assets
-------------------------------------
On August 31, 2000, Viskase Companies, Inc. ("Viskase") announced the
completion of the sale of its plastic barrier and non-barrier shrink film
business ("Films Business") for a purchase price of $245 million, which
includes $228 million in cash upon the consummation of the transaction and
$18 million in accounts receivable excluded from the transaction. The
business being sold includes production facilities in the United States,
United Kingdom and Brazil. Proceeds from the sale will be used principally to
retire debt and for general corporate purposes.
Item 7. - Financial Statements and Exhibits
---------------------------------
Unaudited pro forma financial information with respect to the
disposition of the films business is attached as an exhibit to this Form
8-K.
Exhibits:
2 Purchase Agreement, dated August 31, 2000, between Viskase
Companies, Inc. and Bemis Company, Inc., as amended.
99.1 Unaudited pro forma financial information of Viskase
Companies, Inc. with respect to the disposition of the Films
Business.
99.2 Press Release dated August 31, 2000.
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.
VISKASE COMPANIES, INC.
-----------------------
Registrant
By: /s/ Gordon S. Donovan
-------------------------
Gordon S. Donovan
Vice President, Chief
Financial Officer and
Treasurer
September 25, 2000
Exhibit No. Description of Exhibits Page
---------- ------------------------------------------------ -----
2 Purchase Agreement, dated August 31, 2000, between
Viskase Companies, Inc. and Bemis Company, Inc.,
as amended.
99.1 Unaudited pro forma financial information of Viskase
Companies, Inc. with respect to the disposition of
the Films Business.
99.2 Press Release dated August 31, 2000.
