Berry Plastics Holding Corp 8-K 07.10.07
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): July 10, 2007
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BERRY
PLASTICS HOLDING
CORPORATION
(Exact
name of Registrant as specified in its charter)
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BERRY
PLASTICS
CORPORATION
(Exact
name of Registrant as specified in its charter)
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Delaware
(State
of Incorporation)
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Delaware
(State
of Incorporation)
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333-142602
(Commission
File Numbers)
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35-1814673
(I.R.S.
Employer Identification No.)
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35-1813706
(I.R.S.
Employer Identification No.)
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101
Oakley Street
Evansville,
Indiana
(Address
of principal executive offices)
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47710
(Zip
Code)
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(812)
424-2904
(Registrant’s
telephone number, including area
code)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
2.01 Completion of Acquisition or Disposition of Assets
On
July
10, 2007, Berry Plastics Holding Corporation announced a restructuring of the
operations within its Flexible Films division. The restructuring will include
the closing of four manufacturing locations: Yonkers, New York; Columbus,
Georgia; City of Industry California and Santa Fe Springs, California. The
company intends to complete each of the closings prior to December 31, 2007.
The
business at each facility being closed will be transferred to other Berry
Plastics facilities. The affected business accounted for less than $100 million
of net sales for the last twelve months ended March 31, 2007. The Company
expects this project to generate approximately $20 million of annual savings
when fully implemented. The estimated cash liability associated with this
restructuring program is estimated at $30 million, which includes new equipment,
relocation of existing equipment, and other transition costs.
Berry
Plastics is a leading manufacturer and marketer of plastic packaging products.
Berry Plastics is a major producer of a wide range of products, including open
top and closed top packaging, polyethylene-based plastic films, industrial
tapes, medical specialties, packaging, heat-shrinkable coatings and specialty
laminates to over 17,000 customers, ranging from large multinational
corporations to small local businesses. In the year ended December 31, 2006,
the
company had pro forma annual sales of $3.1 billion. Based in Evansville,
Indiana, the company has 62 manufacturing facilities worldwide and more than
13,900 employees.
Certain
statements and information included in this filing may constitute "forward
looking statements" within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve known
and
unknown risks, uncertainties and other factors which may cause the actual
results, performance, or achievements of Berry Plastics Holding Corporation
and
its affiliates to be materially different from any future results, performance,
or achievements expressed or implied in such forward looking statements.
Additional discussion of factors that could cause actual results to differ
materially from management's projections, forecasts, estimates and expectations
is contained in the companies' SEC filings. The companies do not undertake
any
obligation to update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information, future
events or otherwise.
Item
9.01 Financial
Statements and Exhibits.
(d)
Exhibits.
None
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.
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BERRY
PLASTICS HOLDING CORPORATION
BERRY
PLASTICS CORPORATION
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Date:
July
10, 2007
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By:
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/s/
James
M. Kratochvil
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Name:
James M. Kratochvil
Title:
Executive Vice President, Chief
Financial
Officer, Treasurer and Secretary
of
the entities listed above
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