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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): September 1, 1998 (August 17,
1998)
AMERICAN PAD & PAPER COMPANY
(Exact name of registrant as specified in its charter)
Commission file number 1-11803
Delaware 04-3164298
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
17304 Preston Road, Suite 700, Dallas, TX 75252-5613
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (972) 733-6200
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Item 5. Other Events.
On August 17, 1998, American Pad & Paper Company (the "Company") issued a
press release, which announced the first step in its restructuring plan. The
Company will restructure its manufacturing facilities serving the continuous
forms markets, including the consolidation of production for continuous forms
from six facilities into two facilities. This press release is incorporated
herein as Exhibit 99.10.
On August 18, 1998, the Company announced the appointment of John Hill to
the position of Vice President of the Ampad Division. This press release is
incorporated herein as Exhibit 99.11.
Item 7.
Exhibits
99.10 Press release by the Company dated August 17, 1998.
99.11 Press release by the Company dated August 18, 1998.
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.
American Pad & Paper Company
September 1, 1998. /s/ James W. Swent, III
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Date James W. Swent, III
Chief Executive Officer and
Chief Financial Officer
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INDEX TO EXHIBITS
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<CAPTION>
Exhibit No. Description
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99.10 Press release by the Company dated August 17, 1998.
99.11 Press release by the Company dated August 18, 1998.
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Exhibit 99.10
CONTACT: James W. Swent
Chief Executive Officer
American Pad & Paper Co.
(972) 733-6200
FOR IMMEDIATE RELEASE
Robert P. Jones/Theresa Schillero
Leslie Feldman - Press
(212) 850-5600
Ken Pieper
(972) 663-9390
Morgen-Walke Associates
AMERICAN PAD & PAPER ANNOUNCES REORGANIZATION OF
CONTINUOUS FORMS BUSINESS
Dallas, Texas August 17, 1998 - American Pad & Paper Company (NYSE: AGP)
(AP&P) announced today the first step in its restructuring plan discussed in
the release of second quarter results. AP&P will restructure its manufacturing
facilities serving the continuous forms markets. The restructuring includes
consolidating production of its continuous forms from six facilities into two
low cost, state-of-the-art facilities.
AP&P expects the consolidation to reduce operating expenses and yield
significant annual savings. Further details including the costs to accomplish
the consolidation will come with the release of third quarter results. This
reorganization reflects a portion of the previously announced restructuring
charges to be recorded in the third quarter.
"Concentrating our efforts with our two most experienced and
cost-effective facilities will allow us to better service this market," said
James W. Swent, III, Chief Executive Officer of AP&P. "These moves will reduce
costs, improve margins, improve customer service, and better balance
manufacturing capacity to market demands."
American Pad & Paper Company is a leading manufacturer and marketer of
paper-based office products in North America. In its 22 U.S. facilities, the
company manufacturers and distributes writing pads, file folders, machine
papers, envelopes and other office products. Name brands include Ampad,
Century, Embassy, Gold Fibre, Huxley, Karolton, Kent, Peel & Seel, SCM,
Williamhouse and World Fibre.
This release contains forward-looking statements relating to future results.
Actual results may differ significantly as a result of factors over which the
company has no control, including the strength of domestic and foreign
economies, slower than anticipated sales growth, price and product competition
and increases in raw material costs. Additional information which could affect
the company's financial results is included in the company's prospectus on file
with the Securities and Exchange Commission.
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Exhibit 99.11
CONTACT: James W. Swent
Chief Executive Officer
American Pad & Paper Co.
(972) 733-6200
FOR IMMEDIATE RELEASE
Robert P. Jones/Theresa Schillero
Leslie Feldman/Eileen King-Press
(212) 850-5600
Ken Pieper
(972) 663-9390
Morgen-Walke Associates
AMERICAN PAD & PAPER NAMES JOHN HILL
VICE PRESIDENT OF AMPAD DIVISION
DALLAS, Texas, August 18, 1998, -- American Pad & Paper Company
(NYSE:AGP) (AP&P) today announced that John Hill has joined the AMPAD division
as Vice President assuming responsibilities for mass market sales.
Mr. Hill joins AP&P after having most recently served as Vice
President of Business Development and National Account Manager at Gibson
Greetings. Prior to Gibson Greetings, he spent fifteen years with Hallmark
where he held various senior level positions in its sales organization. Mr.
Hill received his Bachelors of Science degree in Business
Administration/Marketing from the University of Texas at Austin.
American Pad & Paper Company is a leading manufacturer and marketer of
paper-based office products in North America. In its 22 U.S. facilities, the
company manufacturers and distributes writing pads, file folders, machine
papers, envelopes and other office products. Name brands include Ampad,
Century, Embassy, Gold Fibre, Huxley, Karolton, Kent, Peel & Seel, SCM,
Williamhouse and World Fibre.
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