UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 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): February 8, 2006
BUCKEYE
TECHNOLOGIES INC.
(Exact
name of registrant as specified in its charter)
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DELAWARE
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33-60032
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62-1518973
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(State
or other
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(Commission
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(IRS
Employer
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jurisdiction
of incorporation)
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File
Number)
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Identification
Number)
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1001
Tillman Street, Memphis, Tennessee
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38112
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (901) 320-8100
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 (see General Instruction A.2. below):
[
] 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))
SECTION
8. OTHER EVENTS
Item
8.01. Other
Events.
On
February 8, 2006, Buckeye Technologies Inc. announced the establishment of
a new
organization and the election of four vice presidents. Copies of the related
press releases are included as part of this Form 8-K
News
from
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
ANNOUNCES ESTABLISHMENT OF NEW ORGANIZATION
MEMPHIS,
TN February 8, 2006
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Buckeye Technologies Inc (NYSE: BKI) today announced the establishment of a
new
organization whose mission is to lead the Company’s efforts in lowering costs,
reducing working capital, and eliminating waste. The Company intends to
implement the “Lean Enterprise” methodology throughout its operations. The new
organization will focus on improving work processes to ensure that all
activities bring value to our customers.
Mr.
William M. Handel, currently Senior Vice President, Human Resources, will be
appointed Senior Vice President, Lean Enterprise to lead this effort. He will
have overall responsibility for all Human Resources, Customer Service, and
Information Systems activities.
Buckeye
Chairman, David B. Ferraro, stated, “The huge energy-driven increase in our
costs this fiscal year, together with a sizeable investment in working capital
make it clear that we have to change business processes. We must improve our
ability to provide products to customers in a more economical way. This new
organization will identify those areas which do not create value and which
can
be eliminated. Streamlining business processes should improve the Company’s
profitability while producing measurable benefits for our
customers.”
Mr.
Handel is a graduate of Youngstown State University with a degree in Industrial
Management and a Masters degree in Business Financial Management from George
Washington University. He joined Buckeye’s predecessor company in 1974, was
elected Vice President in 1995, and assumed his current position in
2000.
Other
Buckeye senior management changes are being separately announced.
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.
News
from
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
ELECTS FOUR NEW OFFICERS
MEMPHIS,
TN February 8, 2006
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Buckeye Technologies Inc. (NYSE:BKI) today announced the election of four new
Officers.
Mr.
Steven G. Dean was elected Vice President and Controller. Mr. Dean will provide
overall financial leadership for business operations. He is a graduate of
Millsaps College with a degree in
Business Administration and earned a MBA at Northwestern University. He joined
Buckeye in
1999
and has held positions of increasing responsibility in the finance
organization.
Mr.
Terrence M. Reed was elected Vice President, Human Resources. Mr. Reed will
have
responsibility for all personnel planning and support systems, including
development of the Company’s high performance work system. He is a graduate of
University of South Alabama with a degree in Mechanical Engineering. He joined
Buckeye in 1995 and is currently the Plant Manager at the Foley, Florida
facility. He will relocate to Buckeye’s headquarters at Memphis, Tennessee to
assume his new responsibilities.
Mr.
Phillip C. Reese was elected Vice President, Absorbent Fibers. He will have
responsibility for
Buckeye’s worldwide sales of fluff pulp and other absorbent materials. He is a
graduate of University of Mississippi with a degree in Mechanical Engineering.
He joined Buckeye in 1986 and
has
held positions of increasing responsibility in Manufacturing and
Sales.
Mr.
Darrell D. Adams was elected Vice President, Specialty Fibers - North America
and Asia. Mr.
Adams
will have responsibility for Buckeye’s Specialty Fibers sales operations in
those geographies. He is a graduate of Auburn University with a degree in
Chemical Engineering. He joined Buckeye in 1978 and has held positions of
increasing responsibility in Product Development and Sales.
In
a
related move, Dr. Horst Gottsche-Kuhn, currently Vice President, Cotton
Cellulose Sales, will
become Vice President, Specialty Fibers - Europe and South America. He will
have
the same responsibilities as Mr. Adams in the other geographies. Dr. Horst
Gottsche-Kuhn is a graduate of University of Hamburg with a doctorate in Wood
Science and Technology. He joined Buckeye in 1992, was elected Vice President
in
2000, and assumed his current position in 2002.
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,
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BUCKEYE
TECHNOLOGIES INC.
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______________________________________
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David
B. Ferraro
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Chief
Executive Officer
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February
10, 2006
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