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EX-99.1 CHARTER - EXHIBIT 99.1 NEWS RELEASE 10.13.09 - SUN COAST INDUSTRIES INC /DE/ | ex991.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): October 13, 2009
BERRY
PLASTICS CORPORATION
(f/k/a
Berry Plastics Holding Corporation)
(Exact
name of Registrant as specified in its charter)
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Delaware
(State
of Incorporation)
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333-138380
(Commission
File Numbers)
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35-1813706
(I.R.S.
Employer Identification No.)
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101
Oakley Street
Evansville,
Indiana
(Address
of principal executive offices)
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47710
(Zip
Code)
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(812)
424-2904
(Registrant’s
telephone number, including area code)
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NA
(Former
Name or Former Address, if Changed Since Last
Report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
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[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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1
Item
8.01 Other Events
EVANSVILLE, INDIANA, October 13, 2009 -
Berry Plastics Corporation announced today that it intends to acquire in excess
of 99.99% of the common stock of Pliant Corporation upon the emergence of Pliant
from bankruptcy.
On
October 6, 2009, the U.S. Bankruptcy Court for the District of Delaware
confirmed the joint reorganization plan proposed by an affiliate of Apollo
Management, L.P. and Pliant. As a part of the Plan, Berry is entitled
to receive up to 25% of the common equity of Pliant. Berry now also
intends to acquire the remaining 75% of the common stock available under the
Plan. Berry is currently evaluating its options with respect to
financing the equity investment in Pliant. Pliant will remain
separately capitalized as an unrestricted subsidiary of Berry.
Pliant
Corporation is a leading producer of value-added film and flexible packaging
products for personal care, medical, food, industrial and agricultural
markets. Pliant operates 18 manufacturing facilities around the
world, and employs approximately 2,900 people with annual net sales of $1.1
billion for the year ended December 31, 2008.
Ira
Boots, Chairman and CEO of Berry Plastics Corporation, stated “Pliant
Corporation brings to Berry an important group of customers, employees,
manufacturing locations and products. Their film product line
enhances Berry’s current offering with innovation and broader market
appeal. Berry’s rigid plastic packaging offering will be extended
with the addition of Pliant’s flexible packaging. With Berry
acquiring Pliant, customers will be better served with a financially
strengthened full service company.”
Berry
will operate Pliant as an additional operating division. The
transaction is anticipated to close by the end of the year. The Berry
transaction described above is subject to receipt by Berry of necessary
financing and customary regulatory approvals. An affiliate of Apollo
Management remains obligated to fulfill its obligations under the Plan should
these conditions not be satisfied.
Item
9.01 Financial Statements and Exhibits
(d)
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Exhibits
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Exhibit
99.1 News Release, dated October 13, 2009, announcing Berry Plastics
Corporation’s intent to acquire in excess of 99.99% of the common stock of
Pliant Corporation upon the emergence of Pliant from bankruptcy.
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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.
BERRY
PLASTICS CORPORATION
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Date: October
14, 2009
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By:
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/s/ James
M. Kratochvil
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Name:
James M. Kratochvil
Title:
Executive Vice President, Chief
Financial
Officer, Treasurer and Secretary
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EXHIBIT
INDEX
Exhibit
No.
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Description
of Exhibit
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99.1
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News
Release dated October 13, 2009 titled “Berry Plastics Corporation to
Acquire Pliant Corporation.”
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