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UNITED STATES
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 14, 1999 (May 10, 1999)
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 May 10, 1999, American Pad & Paper Company (OTCBB:AMPP) (AP&P) announced
the appointment of William L. Morgan as Chief Operating Officer (COO).
On May 10, 1999, American Pad & Paper Company (OTCBB:AMPP) (AP&P) announced
the closing of its plant in Holland, New York.
These press releases are incorporated herein as Exhibit 99.027 and Exhibit
99.028.
Exhibit
99.27 Press release by the Company dated May 10, 1999.
99.28 Press release by the Company dated May 10, 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 hereunto duly authorized.
American Pad & Paper Company
May 14, 1999 /s/ David N. Pilotte
Date David N. Pilotte
Vice President and Corporate Controller
Principal Accounting Officer
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Exhibit 99.027
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News Release
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For Immediate Release CONTACT: Mark Lipscomb
(972) 733-5415
AMERICAN PAD & PAPER ANNOUNCES APPOINTMENT OF CHIEF OPERATING OFFICER
DALLAS, Texas, May 10, 1999, -- American Pad & Paper Company (OTCBB:AMPP)
(AP&P) announced today that it has named William L. Morgan as Chief Operating
Officer (COO).
Mr. Morgan, 59, joined American Pad & Paper in July 1998 as Executive Vice
President, Operations. In his new position as COO, Mr. Morgan will focus on the
day-to-day business operations for manufacturing, marketing, sales, purchasing,
logistics, information systems, new product development and operational
finance/accounting functions.
Mr. Morgan has over 35 years manufacturing and operations experience with
both publicly traded multi-national manufacturing companies and large-scale
entrepreneurial companies, in fast growth industries. His most recent position
prior to joining AP&P was President, Transmission, Connection and Broadband
Systems, with Northern Telecom. Prior to this assignment he held numerous senior
executive positions with Fujitsu, Memorex, and Texas Instruments.
"Bill is an experienced problem-solving executive with a proven track
record of building strong, highly motivated organizations," said James W. Swent
III, Chief Executive Officer of AP&P. "Bill will be the focal point for the
Company's day-to-day operations, and his appointment as COO will ensure that the
efforts of sales and manufacturing are closely coordinated. This is key as we
continue execution of our plant rationalization plan, and new product
development efforts."
American Pad & Paper Company is a leading manufacturer and marketer of
paper-based office products in North America. Product offerings include
envelopes, writing pads, file folders, machine papers, greeting cards and other
office products. The key operating divisions of the Company are Williamhouse,
AMPAD, and Creative Card. Company revenues in 1998 were $662 million.
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Exhibit 99.028
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News Release
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For Immediate Release CONTACT: Mark Lipscomb
(972) 733-5415
AMERICAN PAD & PAPER ANNOUNCES PLANT CLOSING
DALLAS, Texas, May 10, 1999, -- American Pad & Paper Company
(OTCBB:AMPP) (AP&P) announced that its plant in Holland, New York will be closed
and consolidated as part of the Company's previously announced rationalization
plan.
The Holland plant is a Williamhouse Division operation and will be
transferring its production capability into an existing plant in Scottdale,
Pennsylvania. The Holland plant employs approximately 185 people and will
continue operations at reduced levels through the end of September 1999.
Eligible employees affected will be provided with a severance package, and the
Company will be working with the State of New York Department of Labor to
provide a career transition program.
Commenting on the plant closure, William L. Morgan, Chief Operating
Officer of American Pad & Paper said, "The decision to combine the Holland plant
into the Scottdale plant is a necessary step in returning the Company to
sustained profitability. This consolidation combined with ongoing improvements
in the Scottdale plant will significantly enhance our ability to service our
customers. I sincerely regret the hardship to our employees, but this
consolidation is essential to maximize greater efficiency within our
Williamhouse division."
Mr. Morgan also stated, "Closure of the Holland plant is the fourth major
plant rationalization action we have announced and we are on or slightly ahead
of schedule in each of these actions, which should all be completed by the end
of 1999."
American Pad & Paper Company is a leading manufacturer and marketer of
paper-based office products in North America. Product offerings include
envelopes, writing pads, file folders, machine papers, greeting cards and other
office products. The key operating divisions of the Company are Williamhouse,
AMPAD, and Creative Card. Company revenues in 1998 were $662 million.
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, but not limited to the following:
changing economic conditions, slower than anticipated sales growth, price and
product competition and changes in raw material costs. Additional information,
which could affect the Company's financial results, is included in the Company's
filings with the Securities and Exchange Commission.
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