Exhibit 25.1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE TRUST
INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)
HSBC Bank USA
(Exact name of trustee as specified in its charter)
New York 13-2774727
(Jurisdiction of incorporation (I.R.S. Employer
or organization if not a U.S. Identification No.)
national bank)
452 Fifth Avenue, New York, NY 10018-2706
(212) 525-5600 (Zip Code)
(Address of principal executive offices)
Warren L. Tischler, SVP
HSBC Bank USA
452 Fifth Avenue
New York, New York 10018-2706
Tel: (212) 525-1311
(Name, address and telephone number of agent for service)
TEKNI-PLEX, INC.*
(Exact name of obligor as specified in its charter)
Delaware 22-3286312
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
260 North Denton Tap Road
Coppell, Texas 75019
(972)304-5077 (Zip Code)
(Address of principal executive offices)
8 3/4% Senior Secured Exchange Notes due 2013
Guarantees of 8 3/4% Senior Secured Exchange Notes
(Title of Indenture Securities)
*TABLE OF ADDITIONAL REGISTRANTS
State or Other
Jurisdiction of I.R.S. Employer
Incorporation or Identification
Name, Address and Telephone Number Organization Number
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PureTec Corporation (1) Delaware 22-3376449
Plastic Specialties and Technologies, Inc. (1) Delaware 22-2743384
Plastic Specialties and Technologies Investments, Inc. (1) Delaware 22-2663552
Burlington Resins, Inc. (1) Delaware 22-3334106
Distributors Recycling, Inc. New Jersey 22-2466975
REI Distributors, Inc. (1) New Jersey 22-2418824
Alumet Smelting Corp (1) New Jersey 22-2054447
Tri-Seal Holdings, Inc. (1) Delaware 52-2141575
Natvar Holdings, Inc. (1) Delaware 22-3703725
TPI Acquisition Subsidiary, Inc. (1) Delaware 52-2340472
TP/Elm Acquisition Subsidiary, Inc. (1) Delaware 71-0891561
(1) The address of these additional registrants is: 201 Industrial Parkway,
Somerville, New Jersey 08876. The telephone number of each is (908)
722-4800.
General
Item 1. General Information.
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Furnish the following information as to the trustee:
(a) Name and address of each examining or supervisory
authority to which it is subject.
State of New York Banking Department.
Federal Deposit Insurance Corporation, Washington, D.C.
Board of Governors of the Federal Reserve System,
Washington, D.C.
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
Item 2. Affiliations with Obligor.
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If the obligor is an affiliate of the trustee, describe
each such affiliation.
None
Item 16. List of Exhibits
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Exhibit
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T1A(i) (1) Copy of the Organization Certificate of HSBC Bank USA.
T1A(ii) (1) Certificate of the State of New York Banking Department
dated December 31, 1993 as to the authority of HSBC Bank
USA to commencebusiness as amended effective on
March 29, 1999.
T1A(iii) Not applicable.
T1A(iv) (3) Copy of the existing By-Laws of HSBC Bank USA as amended
on April 11, 2002.
T1A(v) Not applicable.
T1A(vi) (2) Consent of HSBC Bank USA required by Section 321(b) of
the Trust Indenture Act of 1939.
T1A(vii) Copy of the latest report of condition of the trustee
(September 30, 2003), published pursuant to law or the
requirement of its supervisory or examining authority.
T1A(viii) Not applicable.
T1A(ix) Not applicable.
(1) Exhibits previously filed with the Securities and Exchange Commission with
Registration No. 022-22429 and incorporated herein by reference thereto.
(2) Exhibit previously filed with the Securities and Exchange Commission with
Registration No. 33-53693 and incorporated herein by reference thereto.
(3) Exhibit previously filed with the Securities and Exchange Commission with
Registration No. 333-88532 and incorporated herein by reference thereto.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee,
HSBC Bank USA, a banking corporation and trust company organized under the laws
of the State of New York, has duly caused this statement of eligibility to be
signed on its behalf by the undersigned, thereunto duly authorized, all in the
City of New York and State of New York on the 30th day of December, 2003.
HSBC BANK USA
By: /s/ Frank J. Godino
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Frank J. Godino
Vice President
Exhibit T1A (vii)
Board of Governors of the Federal Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-0052
Office of the Comptroller of the Currency
OMB Number: 1557-0081
Federal Financial Institutions
Examination Council Expires April 30, 2006
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Please refer to page i,
Table of Contents, for [ 1 ]
the required disclosure
of estimated burden.
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Consolidated Reports of Condition and Income for
A Bank With Domestic and Foreign Offices--FFIEC 031
Report at the close of business September 30, 2003 (19980930)
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(RCRI 9999)
This report is required by law; 12 U.S.C.ss.324 (State member banks); 12
U.S.C.ss.1817 (State nonmember banks); and 12 U.S.C. ss.161 (National banks).
NOTE: The Reports of Condition and Income must be signed by an authorized
officer and the Report of Condition must be attested to by not less than two
directors (trustees) for State nonmember banks and three directors for State
member and National Banks.
I, Joseph R. Simpson, Controller
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Name and Title of Officer Authorized to Sign Report
Of the named bank do hereby declare that these Reports of Condition and Income
(including the supporting schedules) have been prepared in conformance with
the instructions issued by the appropriate Federal regulatory authority and
are true to the best of my knowledge and believe.
/s/ Jsoeph R. Simpson
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Signature of Officer Authorized to Sign Report
11/12/03
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Date of Signature
This report form is to be filed by banks with branches and consolidated
subsidiaries in U.S. territories and possessions, Edge or Agreement
subsidiaries, foreign branches, consolidated foreign subsidiaries, or
International Banking Facilities.
The Reports of Condition and Income are to be prepared in accordance with
Federal regulatory authority instructions.
We, the undersigned directors (trustees), attest to the correctness of this
Report of Condition (including the supporting schedules) and declare that it
has been examined by us and to the best of our knowledge and belief has been
prepared in conformance with the instructions issued by the appropriate
Federal regulatory authority and is true and correct.
/s/ Sal H. Alfieri
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Director (Trustee)
/s/ Bernard J. Kennedy
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Director (Trustee)
/s/ Martin Glynn
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Director (Trustee)
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Submission of Reports
Each Bank must prepare its Reports of Condition and Income either:
(a) in electronic form and then file the computer data file directly with the
banking agencies' collection To fulfill the signature and attestation
requirement for the agent, Electronic Data System Corporation (EDS), by
modem Reports of Condition and Income for this report date, attach or
computer diskette; or
b) in hard-copy (paper) form and arrange for another party to convert the
paper report to automated for. That party (if other than EDS) must
transmit the bank's computer data file to EDS.
For electronic filing assistance, contact EDS Call report Services, 2150 N.
Prospect Ave., Milwaukee, WI 53202, telephone (800)255-1571.
To fulfill the signature and attestation requirement for the Reports of
Condition and Income for this report date, attach this signature page to the
hard-copy of the completed report that the bank places in its files.
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FDIC Certificate Number | 0 | 0 | 5 | 8 | 9 |
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(RCRI 9030)
http://WWW.BANKING.US.HSBC.COM
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Primary Internet Web Address of Bank (Home Page), if any (TEXT 4087)
(Example: www.examplebank.com)
HSBC Bank USA
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Legal Title of Bank (TEXT 9010)
Buffalo
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City (TEXT 9130)
N.Y. 14203
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State Abbrev. (TEXT 9200) ZIP Code (TEXT 9220)
Board of Governors of the Federal Reserve System,
Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency
REPORT OF CONDITION
Consolidated domestic subsidiaries
HSBC Bank USA of Buffalo
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Name of Bank City
in the state of New York, at the close of business September 30, 2003
ASSETS
Thousands of dollars
Cash and balances due from depository institutions:
a. Non-interest-bearing balances currency and coin .......................... $ 2,350,034
b. Interest-bearing balances ................................................ 1,160,995
Held-to-maturity securities .............................................. 4,213,089
Available-for-sale securities ............................................. 14,211,802
Federal funds sold and securities purchased
under agreements to resell:
a. Federal funds sold in domestic offices .................................... 633,000
b. Securities purchased under agreements to resell ........................... 3,994,723
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Loans and lease financing receivables:
Loans and leases held for sale ............................................ $ 2,653,585
Loans and leases net of unearned income ..................$ 42,180,013
LESS: Allowance for loan and lease losses ................ 434,830
Loans and lease, net of unearned income,
allowance, and reserve .................................................. $ 41,745,183
Trading assets ............................................................ 11,522,909
Premises and fixed assets ................................................. 673,337
Other real estate owned ...................................................... 11,310
Investments in unconsolidated subsidiaries ................................... 243,581
Customers' liability to this bank on acceptances outstanding ................. 80,310
Intangible assets: Goodwill .................................................. 2,211,273
Intangible assets: Other intangible assets ................................... 503,927
Other assets ................................................................. 3,948,333
Total assets ................................................................. 90,157,211
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LIABILITIES
Deposits:
In domestic offices ......................................................... 42,764,284
Non-interest-bearing ..................................... 6,078,506
Interest-bearing ......................................... 36,685,778
In foreign offices ............................................................. 20,037,930
Non-interest-bearing ..................................... 417,850
Interest-bearing ......................................... 19,620,080
Federal funds purchased and securities sold
under agreements to repurchase:
a. Federal funds purchased in domestic offices
............................................................................... 90,885
b. Securities sold under agreements to repurchase ............................. 390,103
Trading Liabilities ............................................................ 8,070,149
Other borrowed money ........................................................... 5,316,355
Bank's liability on acceptances ................................................ 80,130
Subordinated notes and debentures .............................................. 1,549,223
Other liabilities .............................................................. 4,181,576
Total liabilities .............................................................. 82,480,605
Minority Interests in consolidated Subsidiaries ................................ 342
EQUITY CAPITAL
Perpetual preferred stock and related surplus .................................. -
Common Stock ................................................................... 205,000
Surplus ........................................................................ 6,420,202
Retained earnings .............................................................. 893,079
Accumulated other comprehensive income ......................................... 157,983
Other equity capital components ................................................ -
Total equity capital ........................................................... 7,676,264
Total liabilities, minority interests and equity capital ....................... 90,157,211