<PAGE> 1
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): December 15, 2000
PIONEER COMPANIES, INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
DELAWARE 1-9859 06-1215192
-------- ------ ----------
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File No.) Identification No.)
700 LOUISIANA, SUITE 4300, HOUSTON, TEXAS 77002
----------------------------------------- -----
(Address of principal executive offices) (Zip Code)
</TABLE>
Registrant's telephone number, including area code: 713-570-3200
------------
NOT APPLICABLE
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 5. Other Events.
On December 15, 2000, the Registrant issued a press release announcing
that its wholly-owned subsidiary, Pioneer Corporation of America ("PCA"), was
delaying the payment of interest due on December 15, 2000, on PCA's outstanding
9 1/4% Senior Secured Notes due June 2007. The press release also disclosed that
the Registrant has entered into discussions with an institutional investor with
respect to a three-year credit facility of up to $35 million subject to
specified conditions. It was stated that if the new financing is consummated
within thirty days, Pioneer will be able to pay the delayed interest payment
within the grace period allowed by the Notes, and that necessary consents will
be sought from the holders of the Registrant's senior indebtedness. Further, the
Registrant disclosed that if the financing is not arranged or if the necessary
consents are not obtained, the Registrant will seek a restructuring of the
senior indebtedness.
ITEM 7. Financial Statements and Exhibits.
The following exhibit is filed with this report:
EXHIBIT NO. DESCRIPTION
----------- -----------
99(a) Press Release issued by Pioneer Companies, Inc. on
December 15, 2000.
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.
PIONEER COMPANIES, INC.
December 19, 2000 By: /s/ PHILIP A. ABLOVE
--------------------------------
Philip A. Ablove
Executive Vice President and
Chief Financial Officer
-2-
