UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): July 7, 1997
ABT BUILDING PRODUCTS CORPORATION
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(Exact name of registrant as specified in its charter)
State of Delaware 0-21856 13-3684348
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(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification No.)
incorporation)
One Neenah Center, Suite 600, Neenah, Wisconsin 54956
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code (414) 751-8611
Not applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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On July 7, 1997, the Registrant issued the press release attached
hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7. Exhibits
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Exhibit Number
(Referenced to Item 601
of Regulation S-K) Description of Exhibit
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99.1 Registrant's Press Release, dated as of
July 7, 1997.
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Signatures
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, thereunto duly authorized.
Date: July 7, 1997
ABT BUILDING PRODUCTS CORPORATION
By: /s/ Joseph P. O'Neill
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Joseph P. O'Neill
Vice President, Finance-Controller
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EXHIBIT INDEX
Pursuant to Item 601 of Regulation S-K
Exhibit No. Description of Exhibit
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99.1 Registrant's Press Release, dated as of
July 7, 1997.
EXHIBIT NO. 99.1
July 7, 1997
P R E S S R E L E A S E
ABT Building Products Corporation
Announces Plastics Products Group Restructuring
For Immediate Release:
Neenah, WI - ABT Building Products Corporation (NASDAQ: ABTC) -
announced today that it is restructuring its Plastics Products Group. The
following programs will be implemented immediately:
The Independence, Iowa, Plant will be closed and equipment moved to
Hopkinsville, Kentucky. This will consolidate all exterior shutters, both
injected molded and thermoformed; and related plastics building materials
accessories at the Kentucky Plant. Finishing operations will also be located at
Hopkinsville.
As part of the same program, the Company will phase out its
industrial custom molded business in order to focus on specialty plastics
products for the building products industry. These moves will allow for the
closure of three smaller warehouses used for industrial custom molded products
near the Hopkinsville plant.
All manufacturing and distribution for shutters and exterior
accessories will then be concentrated at Hopkinsville.
A new centrally located customer service operation was established
last month at Charlotte, North Carolina. It will handle all exterior products
customer
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service activities including the Hopkinsville Shutter Plant, the Roaring River
Hardboard Siding and Fiber Cement Plants, and the new Holly Springs Vinyl Siding
Plant. Shipments to the US from the Acton, Ontario, Vinyl Siding Plant will also
be handled by the Charlotte customer service operation.
Three warehouses near the Acton Plan will be closed and all vinyl
siding warehousing and distribution will be consolidated at the newly
constructed distribution center in the Milton, Ontario, area. Acton is also the
location for the Canadian Vinyl Siding Plant.
George T. Brophy, Chairman, President and CEO, said that, "We have
been contemplating these moves for a period of time and we are now in the
position, from a facility and customer service perspective, to start
implementation. The focus of ABT in the future, as in the past, will continue to
be specialty building materials."
The realignment of the Plastics Products Group will result in a
restructuring charge of approximately $10 million. The majority of these costs
are non-cash related.
ABT Building Products Corporation produces specialty building
products manufactured from engineered wood, plastics and fiber cement. Premium
products include paneling, moldings, exterior shutters, exterior accessories,
door skins and siding. The major markets served are home improvement,
remodeling, commercial and new construction. (HOME PAGE ADDRESS ON THE WORLD
WIDE WEB - HTTP://WWW.ABTCO.COM.)
