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Petition filed: January 3, 2006
Committee Appointed: January 13, 2006
Debtor’s business:
Pliant Corporation (http://www.pliantcorp.com/) and its debtor and non-debtor affiliates are among North America’s leading manufacturers of value-added films and flexible packaging for food, personal care, medical, agricultural and industrial applications. Through its 4 operating groups, the Company supplies numerous industries in North America with more than 20%of their film and film packaging needs. For example, the Company annually produces approximately 4 billion bread and bakery bags (20% of North America’s total usage), 20% of cookie, cracker and cereal box liners, and more than 35% of the personal care films used in disposable diapers, feminine care products and adult incontinence products. In addition, the Company is a specialized manufacturer of medical films which are used in disposable surgical drapes and gowns, as well as in protective packaging for medical supplies.
The Company operates 20 manufacturing and research and development facilities in the United States and Canada and currently has approximately one billion pounds of annual production capacity. In addition, the Debtors’ non-debtor affiliates operate facilities in Australia, Mexico and Germany. The Company does not expect that these Chapter 11 cases will have any material adverse impact on its non-debtor foreign operations.
In fiscal year 2004, the Company recorded $968.7 million in net sales. For the 9 months ending September 30, 2005, the Company recorded net sales of $784 million, which represents an increase of $69 million during the first 9 months of 2005 as compared to the same time period in 2004.
As of the Petition Date, the Company employs approximately 3,000 employees worldwide. Approximately 1,820 of the Employees are hourly Employees and approximately 590 are salaried Employees. Moreover, approximately 569 of the Employees are subject to one of six collective bargaining agreements. In addition, the Debtors also contract for approximately 43 temporary hourly positions. The Debtors have never experienced any significant work stoppages and considers their current relations with their employees to be good.
Creditors’ Committee Members:
Fidelity Management and Research (Co-Chairperson)
Attn: Nate Van Duzer
One Federal Street
Boston, MA 02109
Phone: 617-392-8129
Paper Converting Machine Company
Attn: Gregory L. Coonrod
8020 Forsyth Boulevard
St. Louis, Missouri 63105
Tel - 314.862.8000 x 405
Fax - 314.863.4139
Bank of New York
Attn: John Guiliano
101 Barclay Street
New York, NY 10286
Phone: 212-815-5441
Fax: 646-855-8450
Total Petrochemicals USA, Inc.
Attn: Connie Edwards
1201 Louisiana Street
Suite 1800,
Houston, TX 77002
Phone: 713-483-5000
Fax: 713-483-5759
Sun Chemical Corporation
Attn: William E. Pajak
135 W. Lake Street
Northlake, IL 60164
Phone: 708-562-0550, ext. 3862
Fax: 708-562-9064
BASF Corporation
100 Campus Drive
Florham Park, NJ 07932
Phone: 973-245-6000
Oxy Vinyls, LLP
Attn: Gary Lee, Jr.
5005 LBJ Freeway
Dallas, TX 75244
Phone: 972-404-3267
Committee Counsel:
Lowenstein Sandler PC
65 Livingston Avenue
Roseland, NJ 07068
Email address: pliant@lowenstein.com
Financial Advisors:
Kramer Capital Partners, LLP
750 Washington Blvd.
Stamford, CT 06901
Derron S. Slonecker
Direct Dial: 203-653-5880
Direct Fax: 203-653-5810
Email: dslonecker@kramercap.com
Michael Kramer
Direct Dial: 203-653-5850
Email: mkramer@kramercap.com
Upcoming Dates:
Omnibus Hearing:
May 15, 2006 at 9:30 am
Before the Honorable Mary F. Walrath, Chief Judge
Location:
United States Bankruptcy Court, District of Delaware
824 Market Street 5th Floor
Wilmington, Delaware 19801
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