Spartech Corporation Adopts Stockholder Rights Plan

Apr 03, 2001, 01:00 ET from Spartech Corporation

    ST. LOUIS, April 3 /PRNewswire/ -- Spartech Corporation (NYSE:   SEH)
 announced today that a Board-Appointed Special Committee of independent
 Directors has adopted a Stockholder Rights Plan.  The plan is intended to
 assist the Company in pursuing its long-term business strategies and enhancing
 shareholder value.
     "Stockholder rights plans have been an effective tool for many public
 companies seeking to preserve and enhance shareholder value," said Bradley B.
 Buechler, Chairman, President and Chief Executive Officer.  "The adoption of
 the plan is not in response to any specific effort to acquire control of
 Spartech.  However, considering the recent low price of our stock, we believed
 it was important to initiate this type of plan to protect the Company and its
 current shareholders."
     In connection with the adoption of the Rights Plan, the Company declared a
 dividend of one Purchase Right for each outstanding share of Spartech common
 stock.  If any person were to acquire beneficial ownership of 15% or more of
 the outstanding shares of the Company's common stock without Board approval,
 each holder of a Right (other than the acquiring person) would be entitled to
 purchase a number of shares of common stock having a market value equal to two
 times the exercise price.  The Rights Plan will not affect any Spartech
 shareholder which currently owns 15% or more of the outstanding shares,
 provided that the shareholder does not acquire additional shares of Spartech
 in excess of 1% of the outstanding Spartech common stock.
     The Rights dividend is payable on April 13, 2001 to shareholders of record
 on that date.  Initially the Rights will be attached to the certificates
 representing outstanding common stock and no separate Rights certificates will
 be distributed.  The Rights will expire on April 2, 2011.  The Rights dividend
 is not taxable to stockholders.  Further details of the Rights will be
 contained in a letter to be mailed to all Spartech shareholders.
     Spartech is a leading producer of engineered thermoplastic materials,
 polymeric compounds and molded & profile products with 50 plants located
 throughout North America and one in Europe.  The Company recently released
 2001 first quarter results of $234.7 million in sales and $8.6 million in net
 earnings, or $.32 per diluted share.
 
     Safe Harbor For Forward-Looking Statements
     Statements contained herein which are not historical facts are forward-
 looking statements within the meaning of the Securities Act of 1933 and the
 Securities Exchange Act of 1934 which are intended to be covered by the safe
 harbors created thereby.  For a summary of important facts which could cause
 the Company's actual results to differ materially from those included in, or
 inferred by, the forward-looking statements, refer to the Company's Form 10-K
 for the fiscal year ended October 28, 2000, which is on file with the
 Securities and Exchange Commission.
 
     CONTACT:  Bradley B. Buechler, Chairman, President and Chief Executive
 Officer, or Randy C. Martin, Executive Vice President and Chief Financial
 Officer, of Spartech Corporation 314-721-4242.
 
 

SOURCE Spartech Corporation
    ST. LOUIS, April 3 /PRNewswire/ -- Spartech Corporation (NYSE:   SEH)
 announced today that a Board-Appointed Special Committee of independent
 Directors has adopted a Stockholder Rights Plan.  The plan is intended to
 assist the Company in pursuing its long-term business strategies and enhancing
 shareholder value.
     "Stockholder rights plans have been an effective tool for many public
 companies seeking to preserve and enhance shareholder value," said Bradley B.
 Buechler, Chairman, President and Chief Executive Officer.  "The adoption of
 the plan is not in response to any specific effort to acquire control of
 Spartech.  However, considering the recent low price of our stock, we believed
 it was important to initiate this type of plan to protect the Company and its
 current shareholders."
     In connection with the adoption of the Rights Plan, the Company declared a
 dividend of one Purchase Right for each outstanding share of Spartech common
 stock.  If any person were to acquire beneficial ownership of 15% or more of
 the outstanding shares of the Company's common stock without Board approval,
 each holder of a Right (other than the acquiring person) would be entitled to
 purchase a number of shares of common stock having a market value equal to two
 times the exercise price.  The Rights Plan will not affect any Spartech
 shareholder which currently owns 15% or more of the outstanding shares,
 provided that the shareholder does not acquire additional shares of Spartech
 in excess of 1% of the outstanding Spartech common stock.
     The Rights dividend is payable on April 13, 2001 to shareholders of record
 on that date.  Initially the Rights will be attached to the certificates
 representing outstanding common stock and no separate Rights certificates will
 be distributed.  The Rights will expire on April 2, 2011.  The Rights dividend
 is not taxable to stockholders.  Further details of the Rights will be
 contained in a letter to be mailed to all Spartech shareholders.
     Spartech is a leading producer of engineered thermoplastic materials,
 polymeric compounds and molded & profile products with 50 plants located
 throughout North America and one in Europe.  The Company recently released
 2001 first quarter results of $234.7 million in sales and $8.6 million in net
 earnings, or $.32 per diluted share.
 
     Safe Harbor For Forward-Looking Statements
     Statements contained herein which are not historical facts are forward-
 looking statements within the meaning of the Securities Act of 1933 and the
 Securities Exchange Act of 1934 which are intended to be covered by the safe
 harbors created thereby.  For a summary of important facts which could cause
 the Company's actual results to differ materially from those included in, or
 inferred by, the forward-looking statements, refer to the Company's Form 10-K
 for the fiscal year ended October 28, 2000, which is on file with the
 Securities and Exchange Commission.
 
     CONTACT:  Bradley B. Buechler, Chairman, President and Chief Executive
 Officer, or Randy C. Martin, Executive Vice President and Chief Financial
 Officer, of Spartech Corporation 314-721-4242.
 
 SOURCE  Spartech Corporation