FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934
Date of Report: December 13, 1994
(Date of earliest event reported)
KIMBERLY-CLARK CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-225 39-0394230
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
P.O. Box 619100, Dallas, Texas 75261-9100
(Address of principal executive offices) (Zip Code)
(214) 830-1200
(Registrant's telephone number, including area code)
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<PAGE>
Item 5. Other Events
On December 13, 1994, Kimberly-Clark Corporation issued the
press release attached hereto as Exhibit 99.
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 hereunto duly authorized.
KIMBERLY-CLARK CORPORATION
Date: December 13, 1994 By:/s/ John W. Donehower
John W. Donehower
Senior Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT INDEX
(99) Press release issued by Kimberly-Clark
Corporation on December 13, 1994.
EXHIBIT 99
Tina S. Barry
(214) 830-1484
Kimberly-Clark Forecasts Earnings....Reviews Proposed IPO of
Pulp and Newsprint Operations....Forms Joint Venture in
China....Plans to Increase Investment in South Africa....and
Expands in South America
DALLAS, December 13, 1994--At a meeting with investors and
securities analysts here today, Wayne R. Sanders, chairman
of the board and chief executive officer of Kimberly-Clark
Corporation, said analysts' consensus estimate of 85 cents a
share in the fourth quarter of 1994 is "in line with the
company's expectations." For the full year 1994, he said
sales, operating profit and earnings will be all-time
records.
Excluding the impact of a potential sale of Kimberly-
Clark's North American pulp and newsprint operations, Mr.
Sanders said he is "comfortable" with analysts' consensus
estimate of $3.83 a share for 1995.
"While we expect the cost of matching a competitor's
price and count reductions on diapers in the U.S. to
restrain earnings in 1995, particularly in the first
quarter, the year will benefit from price increases on
tissue and other paper products," he said.
Because of deterioration in the Canadian equity market,
the company is reviewing the timing and structure of a
proposed initial public offering of a partial interest in
its pulp and newsprint operations and is less certain that
the offering will occur in 1995. If it does, Mr. Sanders
said the one-time gain "should more than offset the earnings
dilution in 1995 from the sale."
In reviewing the company's commitment to global
expansion, he said Kimberly-Clark is aggressively expanding
in Europe, Asia and South America and that it intends to
increase its presence in South Africa.
Regarding Europe, Mr. Sanders said: "In September, I
thought that we could break even in Europe sometime in 1995.
Now, with pulp costs increasing and vigorous competition and
high promotional spending on diapers continuing, I expect
European losses to continue in 1995, but to be substantially
less than in 1994."
Huggies diapers have recently become available in
France, and shipments to Belgium will begin in a couple of
weeks. "Response from the retail trade has been
exceptionally good in both countries," Mr. Sanders said.
"In the U.K., where we launched Huggies diapers earlier this
year, our market share is already in the mid-teens."
As for Asia, Kimberly-Clark has acquired a 90 percent
interest in the Handan Comfort and Beauty Group,
manufacturer of the leading brand of feminine pads in China.
"Through this acquisition, Kimberly-Clark gains about a 25
percent share of China's rapidly growing $100 million
feminine care market, as well as distribution channels for
its other consumer products," Mr. Sanders said. "With a
population of 1.2 billion and a relatively undeveloped
feminine care market, China offers tremendous potential."
In South Africa, Kimberly-Clark intends to increase its
investment in Carlton Paper Corporation Ltd. to 50 percent
early next year, Mr. Sanders said. Kimberly-Clark currently
owns 38.7 percent of Carlton while the company's partner in
South Africa, Holdains Ltd., owns approximately 50 percent.
The remaining shares are held by individual investors.
"The dramatic changes in South Africa's political
situation and this market's long-term growth potential make
this an opportune time to increase our ownership in
Carlton," he said. "Carlton's sales in 1993 were more than
$150 million, and market shares for its bathroom tissue,
facial tissue, feminine pads and diapers range from 33 to 66
percent."
In South America, Kimberly-Clark's Argentine and
Colombian operations have recently expanded sales of diapers
into Chile, Uruguay and Bolivia. Other projects in 1995
will further increase the company's position in South
America, he added.
"Our strategy is to expand our presence outside North
America, transferring our technologies worldwide to build
global brands," Mr. Sanders said. "This year, revenue from
operations outside North America will grow at nearly three
times the domestic rate."
Kimberly-Clark is a manufacturer of household, personal
care and health care products, as well as newsprint and
premium business, correspondence and specialty papers. Its
well-known consumer products include Huggies diapers,
Huggies Pull-Ups training pants, Pull-Ups GoodNites
underpants, Huggies baby wipes, Kleenex facial tissue,
Kleenex premium bathroom tissue, Kotex and New Freedom
feminine care products, Hi-Dri household towels and Depend
and Poise incontinence care products.
