UNITED STATES
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
Commission File No. 33-70476
Date of Report:
October 1, 1997
INTER LAKE WISCONSIN, INC.
(Exact name of registrant as specified in its charter)
Wisconsin 39-1247669
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
433 North Main Street
Kimberly, Wisconsin 54136
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (920)788-3511
REPAP WISCONSIN, INC.
(former name or former address, if changed since last report)
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Item 1. Changes in Control - Registrant.
On October 1, 1997, Consolidated Papers, Inc.
("Consolidated") announced that the company had completed
acquisition of Repap USA, Inc., a wholly owned subsidiary of
Repap Enterprises, Inc. Repap USA, Inc. is the holding
company for Repap Wisconsin, Inc. and Repap Sales
Corporation.
The completed transaction results in full ownership of Repap
USA, Inc. by Consolidated as of October 1, 1997.
Consolidated paid $228.8 million in cash and assumed $433
million in net debt and $14 million for postretirement
benefits. The transaction totaled $674 million and is
subject to certain postclosing adjustments based on September
30, 1997, audited financial statements.
Following the closing, Repap USA, Inc. changed its name to
Inter Lake Papers, Inc.; Repap Wisconsin, Inc. changed its
name to Inter Lake Wisconsin, Inc.; and Repap Sales
Corporation changed its name to Inter Lake Sales Corporation.
The operations of the three subsidiaries are called Inter
Lake Papers, Inc., a company of Consolidated Papers, Inc.
Item 7. Financial Statements, Pro Forma Financial
Information, and Exhibits.
(c) Exhibits.
99.2 Press release, dated October 1, 1997, issued by Consolidated
Papers, Inc.
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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, hereunto duly authorized, on
October 15, 1997.
Inter Lake Papers, Inc.
/s/__________________________
David. P. Nimtz
(Duly authorized officer and
principal financial and accounting officer)
<PAGE>
Index to Exhibits
Exhibit Description
99.2 Press release, dated October 1, 1997, issued by Consolidated
Papers, Inc.
<PAGE>
Consolidated Papers Completes Acquisition of Repap USA
WISCONSIN RAPIDS, Wis. - Gorton M. Evans, president and chief
executive office, and George W. Mead, chairman of the board, of
Consolidated Papers, Inc. (NYSE: CDP) today announced that the
company has completed the acquisition of Repap USA, Inc., a
wholly owned subsidiary of Repap Enterprises, Inc. Repap USA is
the holding company for Repap Wisconsin, Inc. and Repap Sales
Corporation.
The operations will now be called Inter Lake Papers, Inc., a
company of Consolidated Papers, Inc.
The completed transaction results in Consolidated's full
ownership of the acquired companies as of October 1, 1997.
Consolidated paid $227 million in cash and assumed $433 million
in net debt and $14 million for postretirement benefits of the
acquired companies. The transaction totals $674 million and is
subject to certain postclosing adjustments based on September 30,
1997 audited financial statements.
"This is a strategically significant addition for Consolidated
Papers," Evans said. "The vision we share at Consolidated is to
build for the 21st century through continuous improvement and
growth. It is a rare acquisition opportunity to add pulp and
papermakers of the highest caliber like the people at Inter Lake
Papers. It is an equally rare opportunity to expand through
acquisition in your own neighborhood. We have achieved both with
the addition of Inter Lake Papers."
Inter Lake Papers, in Kimberly, Wisconsin, just 90 miles from
Consolidated's headquarters, manufactures coated papers for the
printing and publishing industries. The company's products are
used for brochures, advertising inserts, annual reports,
catalogs, and magazines. The mill has a capacity of 508,000 tons
of coated paper annually as well as an integrated groundwood pulp
mill, a 140,000-ton-per-year paper converting capability and a
paper recycling facility. The company has achieved ISO 9002
certification. Employing approximately 1,000 people, the company
reported 1996 net sales of $405 million and 1995 sales of $510
million.
Consolidated Papers, Inc. Profile
Consolidated Papers in North America's largest producer of
coated printing papers with an annual capacity of 1,330,000 tons.
The company is also a manufacturer of supercalendered printing
papers with an annual capacity of 240,000 tons. The company's
coated and supercalendered printing papers are produced primarily
for the printing and publishing industries.
In addition, Consolidated Papers is the leading manufacturer
of coated specialty papers with an annual capacity of 180,000
tons. These papers are used in consumer product packaging and
labeling.
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Consolidated Papers has the capacity to product 370,000 tons
annually of kraft pulp for internal use using and elemental
chlorine-free process. The company also produces recycled pulp
from post-consumer office wastepaper. Other Consolidated
products include paperboard, paperboard products, and corrugated
displays and containers. Employing approximately 6,000 people,
the company reported 1996 sales of $1.5 billion and 1995 sales of
$1.6 billion. The company is headquartered in Wisconsin Rapids,
Wisconsin.
