UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
APPLIED EXTRUSION TECHNOLOGIES, INC.
(Name of Issuer)
COMMON STOCK
$.01 PAR VALUE
(Title of Class of Securities)
038196101
(CUSIP Number)
Kevin S. Moore
Senior Vice President and Chief Financial Officer
The Clark Estates, Inc.
Thirty-First Floor
One Rockefeller Plaza
New York, New York 10020
Tel. No.: (212) 269-1833
With a copy to:
David W. Ambrosia, Esq.
Winthrop, Stimson, Putnam & Roberts
One Battery Park Plaza
New York, New York 10004-1490
(212) 858-1208
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
May 28, 1998
(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this statement because of Rule 13d-1(b)(3) or (4), check the following: [ ]
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SCHEDULE 13D
===============================================================================
CUSIP NO.038196101 Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Clark Estates, Inc.
13-5524538
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not Applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
============== ================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------- ---------- =============================================
7 SOLE VOTING POWER
NUMBER OF SHARES
580,000
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BENEFICIALLY 8 SHARED VOTING POWER
0
OWNED BY EACH ---------- =============================================
9 SOLE DISPOSITIVE POWER
REPORTING PERSON 580,000
---------- =============================================
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
580,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.28%
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14 TYPE OF REPORTING PERSON*
CO
============== ================================================================
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SCHEDULE 13D
Item 1. Security and Issuer.
This Statement relates to shares of Common Stock, $.01 par value (the
"Common Stock"), of Applied Extrusion Technologies, Inc., a Delaware corporation
(the "Company"). The address of the Company's principal executive office is 3
Centennial Drive, Peabody, Massachusetts 01960.
Item 2. Identity and Background.
(a) - (c) This statement is being filed by The Clark Estates, Inc. (the
"Reporting Person").
The Reporting Person is a New York corporation principally engaged in the
business of providing management and administrative services for certain
institutional, corporate, individual and trust accounts affiliated with the
Clark family. The principal business and principal office address of the
Reporting Person is One Rockefeller Plaza, New York, New York 10020.
The name, business address, present principal occupation or employment of
each executive officer and director of the Reporting Person (the "Executive
Officers and Directors") are set forth in Schedule I hereto, which is
incorporated herein by reference.
(d) - (e) During the last five years, neither the Reporting Person nor, to
the best knowledge of the Reporting Person, any of the Executive Officers and
Directors has (A) been
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convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (B) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
(f) Each of the persons listed in this Item 2 or Schedule I hereto is a
citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration.
All the shares of Company Common Stock owned by the Reporting Person were
purchased in open market transactions. As of May 27, 1998, the Reporting Person
was the beneficial owner of 510,200 shares of Common Stock. The Reporting
Person's further purchases of 69,600 shares of Common Stock are described in
Schedule II hereto, which is incorporated herein by reference. The 580,000 total
shares, representing 5.28% of Company Common Stock, were acquired by funds
available for investment in certain of the accounts of which the Reporting
Person provides management and administrative services.
Item 4. Purpose of Transaction.
All of the shares of Common Stock have been acquired for investment
purposes. The Reporting Person currently does not have any plans or proposals of
the type set forth in Paragraphs (a) through (j) of Item 4 of Schedule 13D,
except that the Reporting Person may acquire additional shares of Common Stock
in open market transactions for investment purposes. Any decision of the
Reporting Person either to purchase additional shares of Company Common Stock or
to dispose of any shares will take into account various factors, including
general economic conditions and money and stock market conditions.
<PAGE>
Item 5. Interest in Securities of the Issuer.
(a) The 580,000 shares of Company Common Stock beneficially owned by the
Reporting Person constitute 5.28% of the outstanding shares of Company Common
Stock (based upon an aggregate of 10,990,659 outstanding shares of Company
Common Stock as of May 8, 1998, as reported in the Company's Form 10-Q for the
period ended March 31, 1998). (b) The Reporting Person has sole power to vote or
to direct the vote of the shares of Company Common Stock referred to in
paragraph (a) above and sole power to dispose or to direct the disposition of
any such shares. (c) Information with respect to all transactions in the Company
Common Stock which were effected by the Reporting Person during the past sixty
days are set forth in Schedule II hereto, which is incorporated herein by
reference. (d) No person other than the Reporting Person has the right to
receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the shares of Company Common Stock referred to in paragraph
(a) above. (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Neither the Reporting Person, nor (to the best knowledge of the Reporting
Person) any of the Executive Officers and Directors, has any contract,
arrangement, understanding or relationship (legal or otherwise) with any person
with respect to any securities of the Company, including but not limited to the
transfer or voting of any of such securities, finder's fees, joint ventures,
loan or option arrangements, puts or calls, guarantees of profits, division of
profits or loss or the giving or the withholding of proxies.
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Item 7. Material to be Filed as Exhibits.
None.
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
August 17, 1998
- ------------------------
Date
/s/ Kevin S. Moore
- ------------------------
Signature
Senior Vice President and
Chief Financial Officer
The Clark Estates, Inc.
- ------------------------
Name/Title
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SCHEDULE I
Executive Officers and Directors of
The Clark Estates, Inc.
Except where otherwise indicated, the business address of each of the
following is The Clark Estates, Inc., One Rockefeller Plaza, New York, New York
10020.
Principal Occupation
Name and Name of Business
- ---- --------------------
Edward W. Stack President and Director
The Clark Estates, Inc.
Management Services
Jane F. Clark Chairman and Director
The Clark Estates, Inc.
Management Services
Kevin S. Moore Senior Vice President, Chief
Financial Officer and Director
The Clark Estates, Inc.
Management Services
William T. Burdick Secretary
The Clark Estates, Inc.
Management Services
Anne L. Peretz Director
The Clark Estates, Inc.
Management Services
Marshall F. Wallach Director
The Clark Estates, Inc.
Management Services
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SCHEDULE II
Transactions in Company Common Stock
Effected by Reporting Person
During Past Sixty Days
Date Transaction Number of Per Share
Type Shares Purchased Sale Price
---- ----------- ---------------- ----------
05-29-98 Market Purchase 2,500 7.18500
06-01-98 Market Purchase 1,000 7.24570
06-05-98 Market Purchase 21,300 7.24750
