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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549-1004
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): October 2, 1995
MOBIL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-7555 13-2850309
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
3225 Gallows Road
Fairfax, Virginia 22037-0001
Telephone: (703) 846-3000
(Address of principal executive offices)
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Item 5. Other Events
The Registrant hereby incorporates by reference herein the
information set forth in its News Release dated October 2, 1995, a
copy of which is annexed hereto as exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits.
99. Mobil Corporation News Release dated October 2,
1995 which announced the sale of Mobil Chemical Company's Plastics
Division to Tenneco's Packaging Corporation of America (PCA).
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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.
REGISTRANT MOBIL CORPORATION
By /s/ Patricia A. Stevenson
NAME AND TITLE Patricia A. Stevenson, Senior Assistant Secretary
DATE October 2, 1995
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EXHIBIT INDEX
EXHIBIT SUBMISSION MEDIA
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99. Mobil Corporation, Electronic
News Release dated
October 2, 1995
CONTACT: John Lord or Gail Campbell Woolley
(703) 846-2500
MOBIL SELLS PLASTICS DIVISION FOR $1.27 BILLION
FAIRFAX, VA., Oct. 2 -- Mobil Corporation announced today it
has reached a definitive agreement to sell the Mobil Chemical
Company's Plastics Division to Tenneco's Packaging Corporation of
America (PCA).
The sales price of $1.27 billion will produce net income in
excess of one-half billion dollars to Mobil. The sale, which is
subject to regulatory approval, is expected to be completed in
the fourth quarter of this year. Proceeds from the sale will be
used to fund Mobil's many opportunities for growth in our core
businesses, including potential acquisitions.
Mobil Plastics is one of the largest manufacturers and
marketers of plastic packaging and consumer products in North
America. Its products include Hefty brand waste bags, tableware
and food storage bags as well as specialty packaging for food
service, supermarket and industrial applications.
Based in Rochester, New York, Mobil Plastics Division
employs approximately 4,100 people and had revenues of more than
$1 billion in 1994. PCA has agreed to offer employment to all
Mobil Plastics Division employees.
"This sale is part of Mobil's strategy to enhance
shareholder value by focusing on its core businesses of oil, gas
and petrochemicals, and selling those non-core businesses that
are worth substantially more to others," said Mobil Chairman
Lucio A. Noto.
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Mobil Plastics Division manufacturing plants are in
Bakersfield, CA; Covington, GA; Frankfort, IL; Jacksonville, IL;
Canandaigua, NY; Macedon, NY; Temple, TX; and Belleville,
Ontario, Canada.
The sale does not involve Mobil Chemical's Films,
Petrochemicals, Chemical Products, Tucker Housewares or Composite
Products Divisions.
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10/02/95
