SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D) OF THE
THE SECURITIES ACT OF 1934
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): December 27, 2004
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BUCKEYE TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-60032 62-1518973
(State of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
1001 Tillman Street, Memphis, Tennessee 38112
(Address of principal executive offices)
Registrant's telephone, including area code (901) 320-8100
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ITEM 2.01. Completion of Acquisition or Disposition of Assets
On December 27, 2004, the Registrant issued the following press release
concerning the sale of the Cork, Ireland building.
News from News from
[OBJECT OMITTED]
FOR IMMEDIATE RELEASE
Contacts: Kris Matula, Executive Vice President
and Chief Financial Officer
901-320-8588
Chad Foreman
Investor Relations Manager
901-320-8828
Website: www.bkitech.com
BUCKEYE COMPLETES SALE OF CORK, IRELAND
BUILDING FOR EURO 10 MILLION
MEMPHIS, TN December 27, 2004 - Buckeye Technologies Inc. (NYSE:BKI) today
announced that it has completed the sale of its building in Cork, Ireland for
Euro 10.0 million (approximately U.S. $13.4 million) to the Port of Cork
Company. The Company expects to report a net gain on the sale of the building
and other machinery and equipment of approximately U.S. $4.5 million (12 cents
per share) in the quarter ended December 31, 2004. The Company ceased production
of airlaid nonwoven materials at the Cork, Ireland facility in July 2004.
Buckeye Chairman, David B. Ferraro, commented, "We are pleased to have finalized
the sale of this building to the Port of Cork Company. Proceeds from the sale
will be used to further reduce our debt."
Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven
materials, is headquartered in Memphis, Tennessee, USA. The Company currently
operates facilities in the United States, Germany, Canada, and Brazil. Its
products are sold worldwide to makers of consumer and industrial goods.
Certain matters discussed in this press release may constitute forward-looking
statements within the meaning of the federal securities laws that involve risks
and uncertainties, including but not limited to economic, competitive,
governmental, and technological factors affecting the Company's operations,
financing, markets, products, services and prices, and other factors. For
further information on factors which could impact the Company and the statements
contained herein, please refer to public filings with the Securities and
Exchange Commission.
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, thereunto duly authorized,
BUCKEYE TECHNOLOGIES INC.
/S/ Kristopher J. Matula
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Kristopher J. Matula
Executive Vice President and Chief Financial Officer
December 27, 2004