American Pad & Paper Co – ‘8-K’ for 1/22/99

As of:  Friday, 1/22/99   ·   For:  1/22/99   ·   Accession #:  5588-99-2   ·   File #:  1-11803

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         January 8, 1999 Press Release                          3     12K 

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=============================================================================== 

 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

 Date of Report (Date of earliest event reported):
  January 22, 1999 (January 8, 1999)

AMERICAN PAD & PAPER COMPANY
(Exact name of registrant as specified in its charter)

Commission file number 1-11803

      Delaware                                        04-3164298
(State or other jurisdiction of                       (I.R.S. Employer    
incorporation or organization)                        Identification No.) 

17304 Preston Road, Suite 700, Dallas, TX                     75252-5613        
(Address of principal executive offices)                      (Zip Code)        

Registrant's telephone number, including area code: (972) 733-6200

=============================================================================== 

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Item 5.  Other Events.                                                          

     On January 8, 1999 American Pad & Paper Company (NYSE:AGP) (AP&P) announced
today that the New York Stock Exchange  (NYSE) intends to apply for delisting of
the Company's common stock because it does not meet the NYSE's continued listing
criteria.                                                                       

This press release is incorporated herein as Exhibit 99.019.                    

Exhibit                                                                         

99.19 Press release by the Company dated January 8, 1999.                       

 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.                                           

                            American Pad & Paper Company

January 22, 1999                        /s/ David N. Pilotte                    
Date                                    David N. Pilotte                        
                                       Vice President and Corporate Controller
                            Principal Accounting Officer

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                                                Exhibit 99.019
FOR IMMEDIATE RELEASE                                    CONTACT: Mark Lipscomb 
                                                (972) 733-5415

 AMERICAN PAD & PAPER ANNOUNCES PENDING PENDING DELISTING OF COMPANY'S
SECURITIES BY NEW YORK STOCK EXCHANGE 

         DALLAS,  Texas,  January  8,  1999,  --  American  Pad & Paper  Company
(NYSE:AGP)  (AP&P)  announced  today  that the New York  Stock  Exchange  (NYSE)
intends to apply for delisting of the Company's common stock because it does not
meet the NYSE's continued listing criteria.                                     

         American  Pad & Paper CEO James W.  Swent III said,  " The  Company  is
currently in discussions to transfer the listing to another securities exchange.
We are disappointed with the NYSE's decision because,  while on a reported basis
the Company has never met all of the Exchange's  criteria for continued listing,
we have  continued to make financial  progress and are diligently  executing our
business and plant  rationalization  plans as we strive to return the Company to
sustained  profitability."  Additionally  Swent  commented,  "During  the  third
quarter of 1998,  AP&P  demonstrated  its  continuing  financial  improvement by
putting in place an  amended  banking  agreement,  exceeding  all the  financial
covenants of that agreement,  reducing debt levels, producing positive cash flow
from  operations,  significantly  reducing  inventory  levels and  announcing  a
comprehensive plant rationalization plan."                                      

         The NYSE  indicated  in a  separate  press  release  that it intends to
suspend  trading of AP&P common  stock prior to the opening on Tuesday,  January
26, 1999 or such earlier date as AP&P  commences  trading in another  securities
marketplace.                                                                    

         American Pad & Paper Company is a leading  manufacturer and marketer of
paper-based  office  products  in  North  America.   Product  offerings  include
envelopes,  writing pads, file folders, machine papers, greeting cards and other
office products.  The key operating  divisions of the Company are  Williamhouse,
AMPAD,  and Creative Card which market  principally  under the  following  Brand
Names:  AMPAD(R),  Century(TM),  Embassy(R),  Evidence(R),  Globe-Weis(R),  Gold
Fibre(TM),   Huxley(TM),   Karolton(R),   Kent(R),  Peel  &  Seel(R),   SCM(TM),
Williamhouse(TM)  and  World  Fibre(TM).  Company  revenues  in 1997  were  $687
million.                                                                        

This release  contains  forward-looking  statements  relating to future results.
Actual  results may differ  significantly  as a result of factors over which the
Company has no control,  including,  but not limited to the following:  changing
economic  conditions,  slower than anticipated  sales growth,  price and product
competition and changes in raw material  costs.  Additional  information,  which
could  affect the  Company's  financial  results,  is included in the  Company's
filings with the Securities and Exchange Commission.                            

                                                               ###

Dates Referenced Herein

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		1/26/99		3					None on these Dates
Filed on / For Period End:		1/22/99		1		2
		1/8/99		1		3
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