Schedule 13D Page 1 of 10
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
AEP Industries Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
001031103
(CUSIP Number)
Nancy G. Brown
Vice President and General Counsel
Borden Chemical, Inc.
180 East Broad Street, Columbus, Ohio 43215
(614) 225-4000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
Copy to: Copy to:
Scott M. Stuart David Sorkin, Esq.
KKR Associates, Simpson Thacher & Bartlett LLP
Whitehall Associates, L.P., 425 Lexington Avenue
c/o Kohlberg Kravis Roberts & Co. New York, New York 10017
9 West 57th Street (212) 455-2000
New York, New York 10019
(212) 750-8300
August 12, 2004
---------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of ss.ss.240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. \__\
Schedule 13D Page 2 of 10
CUSIP No. 001031103
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Borden Chemical, Inc.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..............................................................
(b) ..............................................................
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3. SEC Use Only.........................................................
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4. Source of Funds (See Instructions)
Not applicable
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) ........................................................
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6. Citizenship or Place of Organization
New Jersey
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7. Sole Voting Power
Number of 0
--------------------------------------------------------------
Shares
8. Shared Voting Power
Beneficially
0
Owned by --------------------------------------------------------------
Each
9. Sole Dispositive Power
Reporting
0
Person --------------------------------------------------------------
With 10. Shared Dispositive Power
0
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
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Schedule 13D Page 3 of 10
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) ..................................................
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13. Percent of Class Represented by Amount in Row (11)
0.0%
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14. Type of Reporting Person (See Instructions)
CO
.....................................................................
CUSIP No. 001031103
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Borden Holdings, Inc.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..............................................................
(b) ..............................................................
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3. SEC Use Only.........................................................
- -------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
Not applicable
- -------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)...................................................
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6. Citizenship or Place of Organization
Delaware
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Schedule 13D Page 4 of 10
7. Sole Voting Power
Number of 0
--------------------------------------------------------------
Shares
8. Shared Voting Power
Beneficially
0
Owned by --------------------------------------------------------------
Each
9. Sole Dispositive Power
Reporting
0
Person
--------------------------------------------------------------
With
10. Shared Dispositive Power
0
-------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
- -------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)...................................................
- -------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.0%
- -------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
CO
......................................................................
CUSIP No. 001031103
- ------------------------------------------------------------------------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
BW Holdings LLC
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..............................................................
(b) ..............................................................
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Schedule 13D Page 5 of 10
3. SEC Use Only.........................................................
- -------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
Not applicable
- -------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)...................................................
- -------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- -------------------------------------------------------------------------------
7. Sole Voting Power
Number of 0
--------------------------------------------------------------
Shares
8. Shared Voting Power
Beneficially
0
Owned by --------------------------------------------------------------
Each
9. Sole Dispositive Power
Reporting
0
Person
--------------------------------------------------------------
With
10. Shared Dispositive Power
0
- -------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
- -------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)...................................................
- -------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.0%
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Schedule 13D Page 6 of 10
14. Type of Reporting Person (See Instructions)
OO, HC
......................................................................
CUSIP No. 001031103
[------------------------------------------------------------------------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Whitehall Associates, L.P.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..............................................................
(b) ..............................................................
- -------------------------------------------------------------------------------
3. SEC Use Only.........................................................
- -------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
Not applicable
- -------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)...................................................
- -------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
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7. Sole Voting Power
Number of 0
--------------------------------------------------------------
Shares
8. Shared Voting Power
Beneficially
0
Owned by --------------------------------------------------------------
Each
Schedule 13D Page 7 of 10
9. Sole Dispositive Power
Reporting
0
Person
--------------------------------------------------------------
With
10. Shared Dispositive Power
0
-------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
- -------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)...................................................
- -------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.0%
- -------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
......................................................................
CUSIP No. 001031103
- ------------------------------------------------------------------------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
KKR Associates
- -------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ..............................................................
(b) ..............................................................
- -------------------------------------------------------------------------------
3. SEC Use Only.........................................................
- -------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
Not applicable
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Schedule 13D Page 8 of 10
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)...................................................
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6. Citizenship or Place of Organization
New York
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7. Sole Voting Power
Number of 0
--------------------------------------------------------------
Shares
8. Shared Voting Power
Beneficially
0
Owned by --------------------------------------------------------------
Each
9. Sole Dispositive Power
Reporting
0
Person
--------------------------------------------------------------
With
10. Shared Dispositive Power
0
- -------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
- -------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)...................................................
- -------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.0%
- -------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
......................................................................
Schedule 13D Page 9 of 10
This Amendment No. 5 hereby amends and supplements the statement of beneficial
ownership on Schedule 13D relating to the common stock, par value $.01 per
share, of AEP Industries Inc. (the "Common Stock"), filed on July 1, 1996, as
amended by Amendment No. 1 thereto filed on October 17, 1996, Amendment No. 2
thereto filed on June 4, 1999, Amendment No. 3 thereto filed on February 9,
2001 and Amendment No. 4 thereto filed on July 12, 2001 (as amended, the
"Schedule 13D") by and on behalf of the reporting persons, consisting of KKR
Associates, Whitehall Associates, L.P. BW Holdings LLC, Borden Holdings, Inc.
and Borden Chemical, Inc., with respect to the items set forth below.
Item 5. Interest in Securities of the Issuer.
------------------------------------
As previously reported in the Current Report on Form 8-K of Borden
Chemical Inc., filed on July 7, 2004, BHI Investment, LLC, BW Holdings LLC,
Borden Holdings, Inc., Borden Chemical, Inc., Craig O. Morrison and Joseph P.
Bevilaqua entered into a Stock Purchase Agreement, dated as of July 5, 2004
(the "Stock Purchase Agreement"), pursuant to which BW Holdings LLC agreed to
sell all of its interest in Borden Holdings, Inc., the parent company of
Borden Chemical, Inc., to BHI Investment, LLC. The sale of Borden Holdings,
Inc. was completed on August 12, 2004. Consequently, Borden Holdings, Inc. is
no longer a wholly owned subsidiary of BW Holdings LLC and, as a result, KKR
Associates, Whitehall Associates, L.P. and BW Holdings LLC are no longer the
beneficial owners of any shares of Common Stock and thus the filing
obligations of such parties under Rule 13-d are terminated.
Borden Holdings, LLC, the successor to Borden Holdings, Inc., filed a
Statement on Schedule 13D on August 23, 2004 reporting its beneficial
ownership of the 2,174,418 shares of Common Stock previously reported by the
reporting persons under the Schedule 13D, as amended by this Amendment No. 5.
(a) See the information contained on the cover pages to this
Amendment No. 5 to Schedule 13D which is incorporated herein by
reference.
(b) See the information contained on the cover pages to this
Amendment No. 5 to Schedule 13D which is incorporated herein by
reference.
(c) There have been no reportable transactions with respect
to the Common Stock of the Issuer within the last 60 days by Borden
Chemical, Inc., Borden Holdings, Inc., BW Holdings LLC, KKR
Associates and Whitehall Associates, L.P., except as described in
this Amendment No. 5 to Schedule 13D.
(d) None.
(e) August 12, 2004.
Item 7. Material to Be Filed as Exhibits.
--------------------------------
Exhibit 1 Stock Purchase Agreement dated as of July 5, 2004 among BHI
Investment, LLC, BW Holdings LLC, Borden Holdings, Inc.,
Borden Chemical, Inc., Craig O. Morrison and Joseph P. Bevilaqua
(incorporated by reference to Exhibit (10)(i) to the Form 10-Q of
Borden Chemical, Inc., filed on July 26, 2004, File No. 001-00071).
Schedule 13D Page 10 of 10
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
KKR ASSOCIATES
By: /s/ William J. Janetschek
----------------------------------------
Name: William J. Janetschek
Title: Attorney-in-Fact for Scott M. Stuart
WHITEHALL ASSOCIATES, L.P.
By KKR Associates
General Partner
By: /s/ William J. Janetschek
----------------------------------------
Name: William J. Janetschek
Title: Attorney-in-Fact for Scott M. Stuart
BW HOLDINGS LLC
By Whitehall Associates, L.P.,
Its managing member
By KKR Associates
General Partner
By: /s/ William J. Janetschek
----------------------------------------
Name: William J. Janetschek
Title: Attorney-in-Fact for Scott M. Stuart
BORDEN HOLDINGS, INC.
By: Borden Holdings, LLC
By: BHI Acquisition Corp., its member
By: /s/ Ellen German Berndt
----------------------------------------
Name: Ellen German Berndt
Title: Secretary
BORDEN, INC.
By: /s/ Ellen German Berndt
----------------------------------------
Name: Ellen German Berndt
Title: Secretary
Dated: August 31, 2004
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations
(See 18 U.S.C. 1001)