SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGEACT OF 1934
Date of Report (Date of earliest event reported): July 28, 1998
BPI Packaging Technologies, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-10648 04-2997486
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification Number)
455 Somerset Avenue, Dighton, Massachusetts 02764
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 824-8636
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
On July 29, 1998, BPI Packaging Technologies, Inc. (the "Registrant")
engaged Livingston and Haynes, P.C. as independent accountants to audit the
consolidated financial statements of the Registrant for the year ending December
31, 1998. The decision to engage Livingston and Haynes, P.C. was approved by the
Audit Committee of the Registrant's Board of Directors. During the 10 month
period ended December 31, 1997 and the years ended February 28, 1997 and
February 23, 1996, and the subsequent interim period prior to the engagement of
Livingston and Haynes, P.C., neither the Registrant nor any person on the
Registrant's behalf consulted Livingston and Haynes, P.C. regarding the
application of accounting principles to a specified transaction, either
completed or proposed, or the type of audit opinion that might be rendered on
the Registrant's consolidated financial statements, or any matter that was the
subject of a disagreement with the previous independent accountants (as defined
in paragraph 304(a)(1)(iv) of Regulation S-K) or a reportable event (as
described in paragraph 304(a)(1)(v) of Regulation S-K), and no written or oral
advice concerning same was provided to the Registrant that was an important
factor considered by the Registrant in making a decision as to any accounting,
auditing or financial reporting issue.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
The following exhibits are filed herewith:
Exhibit No.
99. Press Release of Registrant issued July 30, 1998
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
BPI PACKAGING TECHNOLOGIES, INC.
By: /s/ C. Jill Beresford
C. Jill Beresford
Chairman and Chief Executive Officer
Date: July 30, 1998
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Company Press Release
BPI PACKAGING TECHNOLOGIES ANNOUNCES APPOINTMENT OF
NEW AUDIT FIRM
N. DIGHTON, Mass.--July 30, 1998--BPI Packaging Technologies, ("the Company")
[NASDAQ/NMS: "BPIE" (Common Stock)], Board of Directors today announced the
engagement of a new audit firm, Livingston and Haynes, P.C. ("L&H") of
Wellesley, Mass., replacing PricewaterhouseCoopers, LLP ("PWC"), the Company's
former audit firm.
C. Jill Beresford, Chairman and Chief Executive Officer, stated, "We are looking
forward to working with the L&H audit team for three reasons: First, L&H has
been providing audit, accounting and tax services to clients for over 70 years
and has significant experience in SEC engagements.
Second, BPI has seen a rapid, professional and accurate response in working with
L&H. The combination of their size and proximity to the Company has already
demonstrated a level of service that the new management team expects from its
auditors. Also, an important part of my job is providing the Company's
shareholders with timely, accurate and orderly financial communications. For
whatever reasons the Company has been historically late in SEC filings, the new
management team intends to change the Company's past pattern of behavior. L&H
clearly understands this management objective.
Third, Steve St. Louis, the Company's Vice President of Finance and
Administration, has experience in working with L&H in the past. Mr. St. Louis
began working with the Company in March 1998 and his contribution has been
extremely positive. Mr. St. Louis' knowledge in working with L&H will
significantly minimize any transition issues normally associated with a move to
a new audit firm."
Ms. Beresford concluded, "L&H, with the cooperation of PWC, is currently
reviewing the Company's Registration Statement on Form S-1 and the Form 10-Q,
for quarter ended June 30, 1998, which will be filed on time by August 14,
1998."
BPI Packaging Technologies Inc. is a leading manufacturer of proprietary thin,
clear film for tissue and bundle overwrap, proprietary plastic carryout bags
sold to convenience stores and produce departments of supermarkets and
proprietary in-store advertising and promotion products.
Certain statements contained in this press release are not based on historical
facts, but are "forward looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, that are based upon a number of
assumptions concerning future conditions that may ultimately prove to be
inaccurate. Actual events and results may materially differ from anticipated
results described in such statements.
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Contact:
BPI Packaging Technologies Inc.
C. Jill Beresford, 508/824-8636
or
Tower Research Associates
Arthur Stupay, 216/861-4816
