United States Securities and Exchange Commission
Washington, DC
Gentlemen:
Pursuant to the requirements of the Securities Act of 1934, we are transmitting
herewith the attached Form 8-K.
Sincerely,
SPARTECH CORPORATION
/s/RANCY C. MARTIN
Randy C. Martin
Vice President Finance and
Chief Financial Officer
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 May 24, 1999
SPARTECH CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-5911 43-0761773
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
120 S. Central Avenue, Suite 1700, Clayton, Missouri 63105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (314) 721-4242
SPARTECH CORPORATION
FORM 8-K
Item 5. Other Events
This report files the announcement of the Registrant's purchase of the net
assets of the Alltrista Plastic Packaging Division of Alltrista Corporation -- a
well established manufacturer of extruded sheet & rollstock packaging materials
based in Muncie, Indiana, with annual sales approaching $30 million.
Item 7. Financial Statements and Exhibits
Exhibits
99 Spartech press release dated May 24, 1999.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
SPARTECH CORPORATION
Date May 27, 1999 By /S/ Randy C. Martin
Randy C. Martin
Vice President-Finance and
Chief Financial Officer
AT THE COMPANY:
Bradley B. Buechler David B. Mueller Randy C. Martin
Chairman, President and Executive VP and Vice President-Finance
Chief Executive Officer Chief Operating Officer and Chief Financial
Officer
(314) 721-4242 (314) 721-4242 (314) 721-4242
FOR IMMEDIATE RELEASE
Monday, May 24, 1999
SPARTECH CORPORATION COMPLETES
PURCHASE OF ALLTRISTA PLASTIC PACKAGING DIVISION
St. Louis, Missouri, May 24, 1999 -- Spartech Corporation (NYSE:SEH)
announced today that it completed its purchase of the net assets of the
Alltrista Plastic Packaging Division of Alltrista Corporation--a well-
established manufacturer of extruded sheet & rollstock packaging materials based
in Muncie, Indiana, with annual sales approaching $30 million.
Spartech's Chairman, President and CEO, Bradley B. Buechler stated, "This
purchase will further strengthen our extruded sheet & rollstock group by (1)
significantly increasing our thin-gauge extrusion capacity, (2) broadening our
product and service capabilities in the high-barrier, co-extruded rollstock food
packaging market, and (3) adding a state-of-the-art packaging technical
laboratory to better serve our customers in this segment of the plastics
industry. The cash purchase price for the acquisition was $33.7 million with
the business being accretive to our earnings per share immediately."
Spartech's Executive Vice President and COO, David B. Mueller, stated, "We
are enthusiastic about continuing Alltrista's past success in the food packaging
market, which should provide further growth opportunities for Spartech's 19-
plant extruded sheet & rollstock group. We anticipate this acquisition will
produce even greater benefits in the future, as we integrate the operation and
its products into the Company's Spartech Plastics unit."
Spartech is a leading producer of engineered thermoplastic materials,
polymeric compounds and molded & profile products which, after the acquisition,
will have 40 facilities located throughout North America and Europe, with annual
production capacity and sales of more than one billion pounds and $750 million,
respectively. The Company will release its Second Quarter Earnings on Tuesday
morning, May 25, 1999.
Safe Harbor For Forward-Looking Statements
Statements contained herein which are not historical facts are forward-
looking statements within the meaning of the Securities Act of 1933 and the
Securities Exchange Act of 1934 which are intended to be covered by the safe
harbors created thereby. For a summary of important facts which could cause the
Company's actual results to differ materially from those included in, or
inferred by, the forward-looking statements, refer to the Company's Form 10-K
for the fiscal year ended October 31, 1998, which is on file with the Securities
and Exchange Commission.
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