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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):
December 6, 1999
AMERICAN BUSINESS PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
GEORGIA 1-7088 58-1030529
(State of (Commission File No.) (I.R.S. Employer
incorporation) Identification No.)
2100 RIVEREDGE PARKWAY, SUITE 1200
ATLANTA, GEORGIA 30328
(Address of principal executive offices, including zip code)
(770) 953-8300
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On December 6, 1999, the Registrant announced that Harold R. Smethills had
been elected President and Chief Executive Officer. Mr. Daniel W.
McGlaughlin, a member of the Board of Directors, has been serving as the
Registrant's Interim President and Chief Executive Officer since September
16, 1999.
Details are contained in the Press Release, issued December 6, 1999
filed as Exhibit 99 hereto and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
The following exhibit is filed herewith:
EXHIBIT NO. DESCRIPTION
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99 Press Release, issued December 6, 1999
SIGNATURE
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.
AMERICAN BUSINESS PRODUCTS, INC.
Dated: December 6, 1999 /s/ Richard G. Smith
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Richard G. Smith
Vice President and Chief Financial Officer
2
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EXHIBIT INDEX
The following exhibits are filed as part of this Report.
EXHIBIT NO. DESCRIPTION PAGE NO.
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99 Press Release, issued December 6, 1999
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EXHIBIT 99
Contact:
Richard G. Smith
Chief Financial Officer
American Business Products
(770) 953-8300
FOR IMMEDIATE RELEASE
Investors: Robert P. Jones/Theresa Schillero
Media Contact: Jennifer Kirksey
Morgen-Walke Associates, Inc.
(212) 850-5600
AMERICAN BUSINESS PRODUCTS APPOINTS HAROLD SMETHILLS
PRESIDENT AND CHIEF EXECUTIVE OFFICER
Atlanta, GA, December 6, 1999 - American Business Products (NYSE: ABP)
today announced the appointment of Harold R. Smethills, 51, as President, Chief
Executive Officer and a member of the Board of Directors of the Company.
Mr. Smethills brings to American Business Products thirty years
leadership experience at publicly held companies. He joins the firm after having
most recently served as Chairman of Hill Equities LLC, a private investment and
consulting firm, which he founded in 1995.
In 1986, Mr. Smethills joined Adolph Coors Company (NYSE: RKY) as
Executive Vice President and Chief Financial Officer after a successful 18-year
career in Commercial Banking. He played a significant role in the development
and execution of the Company's diversification strategy, particularly with the
Company's packaging subsidiary, Graphic Packaging Company. He led the
development and implementation of a major restructuring program to spin off
Coors' non-brewing businesses into a public company. After the restructuring,
Mr. Smethills became co-President of the newly created company, ACX
Technologies. ACX (NYSE: ACX) implemented an aggressive acquisition and
investment strategy that included the purchase of Gravure International, a
Canadian and U.S. flexible packaging company. During his two-year tenure with
ACX as a public company, ACX increased sales approximately 30% to $731 million
and created significant value for the shareholders.
G. Harold Northrop, Chairman of the Board, commented, "Harold is a
proven leader with strong strategic and managerial expertise in the packaging
industry. We are confident that his business development skills and successful
record in creating and implementing growth strategies at Coors and ACX
Technologies will provide American Business Products with the leadership needed
to strengthen our position in the packaging industry and improve profitability."
Mr. Smethills stated, "I am very exited to lead the ABP team. The
Company's rich history and position in the flexible packaging and printing
markets provides a solid platform for significant
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growth in the 21st Century. I look forward to working with the many dedicated
employees as we move forward in creating value for our shareholders."
Mr. Smethills replaces board member Daniel W. McGlaughlin who was
serving as acting Chief Executive Officer.
American Business Products, Inc. is a leading supplier of specialty
packaging and printed office products. ABP's specialty packaging companies
include: Jen-Coat, Inc., a leader in extrusion coating and laminating of
packaging and other products; International Envelope Company, the world's
largest converter of Tyvek(R) mailers and other soft packages; and Discount
Labels, Inc., the largest short-run custom label producer in the U.S. ABP's
printed office products business, Curtis 1000 Inc., is a leader in
direct-to-user marketing of custom-printed envelopes and labels, digital
document services and business forms. Information on American Business Products
can be found on the Company's website at www.goabp.com.
This press release contains certain forward-looking statements,
including statements relating to the future financial results of the Company.
Caution should be taken in relying upon forward-looking statements in this
release because they involve a number of risks and uncertainties that could
cause actual results to differ materially from any such statements. These risks
and uncertainties include the Company's ability to successfully implement its
revenue enhancement and growth strategies, and to improve profitability.
Additional risk factors are detailed in the Company's periodic filings with the
Securities and Exchange Commission, including those risks identified in the
section captioned, "Management's Discussion and Analysis of Financial Condition
and Results of Operations" in the Company's annual report on Form 10-K for the
year ended December 31, 1998, and its quarterly report on Form 10-Q for the
quarter ended September 30, 1999, which discussion is incorporated in this
release by reference.
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