If you have MS Office installed on the server then you could
use the filesystem object and COM to manipulate the files.
If you don't have that installed then you could possibly look
into using Apache's POI-HWPF(just google apache+poi+hwpf). I
recently used it to extract the text from a Word document but I'm
not sure about it's Word document creation/save as functionality.
Check out this
post
if you decide to go the POI route because CF 8 comes with a
preinstalled version of POI 2.5 that does not include the HWPF
classes.