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 March 14, 2000
SPARTECH CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-5911 43-0761773
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
120 S. Central Avenue, Suite 1700, Clayton, Missouri 63105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (314) 721-4242
SPARTECH CORPORATION
FORM 8-K
Item 2. Acquisition or Disposition of Assets
On February 28, 2000, Spartech Corporation completed the acquisition of
substantially all the assets of High Performance Plastics, Inc. ("HPP") an
indirect subsidiary of Uniroyal Technology Corporation. The acquisition of HPP
expands Spartech's production capacity with nine additional manufacturing
facilities located throughout North America.
HPP operates two business divisions, Royalite, a manufacturer of
thermoplastic sheet with three operating locations and Polycast, a manufacturer
and processor of cell cast acrylic with six operating locations. Royalite
specialty sheet products are engineered to exhibit specific performance-
enhancing attributes such as flame and smoke retardancy, static dissipation and
conductivity, weatherability and temperature resistance, and buoyancy. Royalite
products are supplied to the mass transportation, aircraft, computer and
electronic equipment, computer chip and electronic packaging, marine and
recreational vehicle, and other personal and commercial watersport markets.
Polycast employs cell cast processing, which can be a preferred processing
method for certain thick, optical-quality acrylic sheet applications. End
markets for this unit include commercial and military aerospace applications,
specialty sheet for various niche markets, general-purpose acrylic sheet, and
rods and tubes. The Company intends to use the property, plant, equipment, and
other assets in the same manner as HPP.
The total consideration for the acquisition of HPP was approximately $216
million in cash, subject to adjustment upon final determination of HPP's working
capital. The acquisition was funded through the Company's new $250 million bank
credit facility provided by a group of banks led by Bank of America, N.A.
SPARTECH CORPORATION
FORM 8-K
Item 7. Financial Statements and Exhibits
(a) Financial statements of businesses acquired.
At present, it is impractical for the Company to provide required financial
statements for the acquired businesses, but such financial statements will be
filed by an amendment to this report within 60 days after the time for filing
this report.
(b) Pro forma financial information.
At present, it is impractical for the Company to provide required pro forma
financial information relative to the acquired businesses, but such financial
information will be filed by an amendment to this report within 60 days after
the time for filing this report.
(c) Exhibits.
2 Asset Purchase Agreement dated December 24, 1999 (Exclusive of exhibits
and schedules referred to in said agreement, copies of which will be
filed with the Commission on request).
99 Spartech press release dated February 29, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
SPARTECH CORPORATION
Date March 14, 2000 By /S/ Randy C. Martin
Randy C. Martin
Vice President-Finance and
Chief Financial Officer