Printer Friendly

ANACOMP, INC. ELECTS NEW DIRECTOR, CONTINUES DEBT PAYDOWN

     ANACOMP, INC. ELECTS NEW DIRECTOR, CONTINUES DEBT PAYDOWN
    ATLANTA, Nov. 7 /PRNewswire/ -- Clark A. Johnson, chairman and chief executive officer of Pier 1 Imports, has been elected to the board of directors of Anacomp, Inc. (NYSE: AAC), a Fortune 500 company and the world's largest provider of micrographics services, systems and supplies.
    Johnson fills a new position on the Anacomp board, joining seven other directors.
    "Clark Johnson will be a tremendous addition to our board," said Louis P. Ferrero, Anacomp's chairman and chief executive officer. "His international business experience will be helpful to us as we continue to expand our presence in global markets.  He is an outstanding executive with a very successful track record, and we know he will be an excellent advisor to our management team."
    In addition to Johnson's appointment, Ferrero announced that Anacomp continued to accelerate repayment of its long-term debt, refinanced in October 1990.  Anacomp had repaid a total of $42.5 million on its outstanding debt as of Oct. 26, 1991, the first anniversary of the company's refinancing, fully meeting term loan repayment requirements of $25 million, and applying additional cash to payments on its revolving lines of credit.
    Johnson joined Pier 1 Imports, a national retailer based in Fort Worth, Texas, in 1985 as president and was elected chairman in 1988. Previously, he was chairman and chief executive officer of MacGregor Golf Company, an Atlanta-based sporting goods company which he and pro golfer Jack Nicklaus acquired in 1982.
    In addition, Johnson's experience includes more than 10 years as an executive with the Wickes Companies, Inc.  He served as president of Wickes Lumber and of Wickes Furniture, then became executive vice president and group officer for the holding company.  Johnson also served on the Wickes Companies' board and was a member of its executive committee.  Johnson has been a director of several other corporations and has been actively involved in Fort Worth community affairs.
    A native of Fort Dodge, Iowa, Johnson studied marketing at the University of Iowa and is a graduate of Harvard Business School's Advanced Management Program.
    -0-                 11/7/91
    /CONTACT:  Dennis Lindsey of Anacomp, 404-262-2667, or Janice Kuntz of Cameron Associates, 404-804-7970, for Anacomp/
    (AAC) CO:  Anacomp, Inc. ST:  Georgia IN:  CPR SU:  PER cg -- AT012 -- 2395 11/07/91 16:43 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 7, 1991
Words:383
Previous Article:CELLULAR COMMUNICATIONS TO DISTRIBUTE PUERTO RICO CELLULAR OPERATIONS TO STOCKHOLDERS
Next Article:INVESTMENT COMPANY INSTITUTE REPORTS ON ASSETS OF MONEY MARKET MUTUAL FUNDS


Related Articles
ANACOMP, INC. ELECTS NEW DIRECTOR, CONTINUES DEBT PAYDOWN
ANACOMP, INC. REPORTS FIRST QUARTER RESULTS; ANNOUNCES APPOINTMENT OF J. MARK WOODS AS PRESIDENT
ANACOMP SUCCESSFULLY COMPLETES CONSENT SOLICITATION AND CAPITAL RESTRUCTURING
ANACOMP FILES PRE-NEGOTIATED PLAN OF REORGANIZATION
ANACOMP NO LONGER IN CHAPTER 11
Anacomp Makes Early Debt Payment, Announces Listing of Common Stock
Anacomp Announces Date of Senior Debt Refinancing and Redemption of Outstanding Senior Notes
Anacomp Announces New, Lower-Rate Senior Credit Facility
Anacomp(R) Emerges From Chapter 11 Debt Restructuring; New Board of Directors to Lead Reorganized Company.
Anacomp Receives $8 Million in New Financing.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters