-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CiFsI5zTmYadVSFdZrjunUJFcH9T7rV+O523Llzuu6LnlNMdF/aExhW60bswcLB1 E3aTMkIhx6K/54AaiNIrgw== 0001104659-05-014952.txt : 20050404 0001104659-05-014952.hdr.sgml : 20050404 20050404142253 ACCESSION NUMBER: 0001104659-05-014952 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050404 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050404 DATE AS OF CHANGE: 20050404 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POLYMER GROUP INC CENTRAL INDEX KEY: 0000927417 STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221] IRS NUMBER: 571003983 STATE OF INCORPORATION: DE FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14330 FILM NUMBER: 05729046 BUSINESS ADDRESS: STREET 1: 4838 JENKINS AVE CITY: NORTH CHARLESTON STATE: SC ZIP: 29405 BUSINESS PHONE: 8037445174 MAIL ADDRESS: STREET 1: 4838 JENKINS AVENUE CITY: NORTH CHARLESTON STATE: SC ZIP: 29405 8-K 1 a05-6224_18k.htm 8-K

 

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: April 4, 2005 (Date of Earliest Event Reported: April 4, 2005))

 

POLYMER GROUP, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

 

Delaware

 

1-14330

 

57-1003983

(State or other jurisdiction of
incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

4055 Faber Place Drive, Suite 201, North Charleston, South Carolina, 29405

(Address of Principal Executive Offices, including Zip Code)

 

(843) 329-5151

(Registrant’s Telephone Number, Including Area Code)

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

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:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 8.01               Other Events

 

On April 4, 2005, Polymer Group, Inc. (“PGI”) issued a press release announcing that it will strengthen its presence in China with the construction of a new spunmelt manufacturing plant in Suzhou and the addition of advanced chemical bonding technology at its facility in Nanhai.  A copy of the press release is attached hereto as Exhibit 99.1.

 

Item 9.01.               Financial Statements and Exhibits

 

(c)           Exhibits

 

 

Exhibit
No.

 

Description of Exhibit

 

 

 

99.1

 

Press Release dated April 4, 2005 announcing China expansions.

 

2



 

SIGNATURE

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

POLYMER GROUP, INC.

 

 

 

 

Date: April 4, 2005

/s/ Willis C. Moore III

 

 

Willis C. Moore III

 

Chief Financial Officer

 

3


EX-99.1 2 a05-6224_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

Polymer Group, Inc.
4055 Faber Place Dr.
Suite 201
N. Charleston, SC 29405
www.polymergroupinc.com
843-329-5151

 

 

Polymer Group, Inc. Strengthens Asian Presence with China Expansions

 

Company to build new plant in Suzhou and install line in Nanhai

 

For Immediate Release

 

Monday, April 4, 2005

 

[North Charleston, SC] — Polymer Group, Inc. (OTC Bulletin Board: POLGA/POLGB) announced it will strengthen its presence in China with the construction of a new spunmelt manufacturing plant in Suzhou and the addition of advanced chemical bonding technology at its facility in Nanhai.

 

New Suzhou Location

 

The new Suzhou manufacturing plant will make PGI the largest spunmelt producer in China and the country’s only vertically integrated producer of medical fabric.  Located near Shanghai, the plant will house a new state-of-the-art, multi-beam Reifenhäuser spunmelt line targeted primarily at serving the medical and hygiene markets. It will also house a world-class finishing line capable of providing customers with treated medical fabrics produced in a pristine environment that meet the highest quality standards. Construction is expected to begin during the second quarter of 2005, and commercial production is planned for mid-2006.

 

The new spunmelt line will offer customers ultra-high-performance medical barrier fabric, including PGI’s MediSoft™ products.  It will also enhance the company’s ability to offer high quality hygiene fabrics using proprietary processes and advanced treating systems.

 

Nanhai Technology Addition

 

PGI will also expand its technology base at its current facility in Nanhai, China with the addition of an advanced chemical bonding line targeted to serve the hygiene and medical markets.  This new line will enable PGI China to broaden its product offering to include sublayer products for the hygiene market and other medical and hygiene products previously available only from PGI’s U.S. and European operations.

 

“Our strategic growth plans include expansion in every region of the world in which PGI operates,” said PGI’s chief executive officer, James L. Schaeffer.  “Due to capacity limitations, our existing China operations have not been able to keep up with the growing demand for PGI products.  The new location in Suzhou will add capacity right where our customers need it, and the technology expansion at Nanhai will enhance our ability to provide the region with a broader base of products.”

 



 

Jay Cheng, PGI’s general manager of China operations who joined the company in January of 2005 to manage growth in Asia, added: “The Shanghai region continues to grow in its importance to the Asian economy, and our customers are growing their businesses in this area.  By locating in the Suzhou Industrial Park, we will have access to one of the highest quality infrastructures in the country.”

 

Polymer Group, Inc., one of the world’s leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 21 manufacturing facilities throughout the world.

 

 Safe Harbor Statement

 

Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements speak only as of the date of this release.  Factors that may cause actual results to differ from those indicated in forward-looking statements can include, but are not limited to, the following: (i) general economic factors including, but not limited to, changes in interest rates, foreign currency translation rates, consumer confidence, trends in disposable income, changes in consumer demand for goods produced, and cyclical or other downturns; (ii) substantial debt levels and potential inability to maintain sufficient liquidity to finance the company’s operations and make necessary capital expenditures; (iii) information and technological advances; (iv) cost and availability of raw materials, labor and natural and other resources; (v) domestic and foreign competition; (vi) reliance on major customers and suppliers; and (vii) risks resulting from foreign operations.  Investors and other readers are directed to consider the risks and uncertainties discussed in documents filed by Polymer Group, Inc. with the Securities and Exchange Commission, including the company’s 2004 Annual Report on Form 10-K.

 

 

For further information, please contact:

 

Dennis Norman

Vice President – Strategic Planning & Communication

(843) 329-5151

normand@pginw.com

 

2


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