<ARTICLE> 5 <CIK> 0000817647 <NAME> AMERICAN PAD AND PAPER COMPANY OF DELAWARE, INC. <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS 9-MOS <FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 <PERIOD-START> JUL-01-1996 JAN-01-1996 <PERIOD-END> SEP-30-1996 SEP-30-1996 <CASH> 13,200 13,200 <SECURITIES> 0 0 <RECEIVABLES> 62,115 62,115 <ALLOWANCES> (1,828) (1,828) <INVENTORY> 97,212 97,212 <CURRENT-ASSETS> 195,136 195,136 <PP&E> 143,927 143,927 <DEPRECIATION> (11,386) (11,386) <TOTAL-ASSETS> 520,413 520,413 <CURRENT-LIABILITIES> 91,153 91,153 <BONDS> 130,000 130,000 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 274 274 <OTHER-SE> 94,175 94,175 <TOTAL-LIABILITY-AND-EQUITY> 520,413 520,413 <SALES> 173,606 407,813 <TOTAL-REVENUES> 173,606 407,813 <CGS> 137,569 323,317 <TOTAL-COSTS> 151,881 360,379 <OTHER-EXPENSES> (408) (1,179) <LOSS-PROVISION> 111 261 <INTEREST-EXPENSE> (9,940) (34,972) <INCOME-PRETAX> 12,193 13,641 <INCOME-TAX> 5,268 5,893 <INCOME-CONTINUING> 6,925 7,748 <DISCONTINUED> 0 0 <EXTRAORDINARY> (18,695) (19,995) <CHANGES> 0 0 <NET-INCOME> (11,770) (12,247) <EPS-PRIMARY> 0 0 <EPS-DILUTED> 0 0