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) August 31, 1995
Atlantis Plastics, Inc.
(Exact Name of Registrant as Specified in Charter)
Florida 1-9487 06-1088270
(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
1870 The Exchange, Suite 200, Atlanta, Georgia 30339
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (404) 953-4567
(Former name, if changed since last report)
Item 2. Acquisition or Disposition of Assets
On August 31, 1995, the Registrant sold all of the
outstanding shares of capital stock of its wholly owned subsidiary,
Western Pioneer Insurance Company, a California corporation
("WPIC"), to The Commerce Insurance Company, a Massachusetts
corporation (the "Purchaser").
The sale price for the WPIC shares was $12,000,000,
subject to adjustment to reflect (a) the settlement of net
intercompany charges between the Registrant and WPIC with respect
to the tax allocation agreement and the management agreement
between the Registrant and WPIC (both of which agreements have been
terminated), and (b) the purchase by a wholly owned subsidiary of
the Registrant of certain real estate owned by WPIC. Net proceeds
to the Registrant, after taking into account such adjustments, were
approximately $10,255,000 in cash.
The sale price was determined through arms' length
negotiations between the Registrant and the Purchaser.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(a) Not applicable.
(b) Pro Forma Financial Information
Pro forma financial information is not included because
such information has previously been reflected in the
Registrant's results of operations for continuing
operations.
(c) Exhibits
The following exhibit is incorporated by reference in
this Current Report on Form 8-K:
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Exhibit No. Description
2.1 Stock Purchase Agreement, dated as of May 18, 1995,
between the Registrant and The Commerce Insurance
Company, incorporated by reference to Exhibit 10.17 to
the Registrant's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
ATLANTIS PLASTICS, INC.
Dated: September 13, 1995 By:/s/ Paul Rudovsky
Paul Rudovsky
Executive Vice President and
Chief Financial Officer
