SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the Month of December 2004
-----------------------
AMERICAN ISRAELI PAPER MILLS LTD.
(Translation of Registrant's Name into English)
P.O. Box 142, Hadera, Israel
(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
|X| Form 20-F |_| Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): |_|
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): |_|
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K submitted to furnish a report or other document that the registrant
foreign private issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
|_| Yes |X| No
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-______________
Attached hereto as Exhibit 1 and incorporated by reference herein is the
Registrant's press release dated December 21, 2004.
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.
AMERICAN ISRAELI PAPER MILLS LTD.
(Registrant)
By: /s/ Lea Katz
--------------------------------
Name: Lea Katz
Title: Corporate Secretary
Dated: December 21, 2004.
EXHIBIT INDEX
-------------
Exhibit No. Description
----------- -----------
1. Press release, dated December 21, 2004.
EXHIBIT 1
---------
NEWS
Hadera, Israel, December 21, 2004. American Israeli Paper Mills Ltd. (ASE:AIP)
announced today that Ovisan Sihhi Bez Sanai Ve Ticavet A.S. in Turkey, a
subsidiary of Hogla-Kimberly Ltd. (AIPM holds 49.9% of Hogla-Kimberly) put a lot
of effort during 2004 and achieved a volume growth of around 40%.
However, due to increasing competition and price erosion in Turkey, as well as
changes made by Ovisan in its sales and distribution structure, Ovisan is
required to decrease its receivables and to adjust the value of its inventory to
market prices, as of the financial reporting date. American Israeli Paper Mills
estimates that the above-mentioned adjustments will decrease its net profit in
the fourth quarter of 2004 by around NIS 8 million.