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Tredegar Corporation (TG) delivers essential plastic films and aluminum extrusions for global industries ranging from personal care to construction. This news hub provides investors and industry professionals with timely updates on operational developments, strategic initiatives, and market positioning.
Access comprehensive coverage of Tredegar's dual-segment operations, including film technology advancements and extrusion product innovations. Track critical updates across earnings releases, manufacturing expansions, and sustainability initiatives affecting key sectors like flexible packaging and building materials.
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Tredegar (NYSE:TG) reported its Q4 and full-year 2024 results. Q4 2024 net loss from continuing operations was $(7.3) million ($(0.21) per share), compared to $(34.1) million in Q4 2023. Full-year 2024 net income was $1.0 million ($0.03 per share).
Key Highlights:
- Aluminum Extrusions: Q4 EBITDA reached $9.7 million, with sales volume of 35.8 million pounds
- PE Films: Q4 EBITDA was $7.6 million, with sales volume of 9.1 million pounds
- Net leverage ratio improved to 1.1x from 3.7x at end of 2023
- Surface Protection sales volume increased 43% in Q4 2024 vs Q4 2023
The company recognized a non-cash goodwill impairment of $13.3 million for its Clearfield operation. Section 232 tariffs on aluminum imports were increased from 10% to 25%, effective March 12, 2025.
Tredegar (NYSE:TG) has announced the appointment of Chris Vlahcevic as an independent director to its Board of Directors. Chairman of the Board Greg Pratt welcomed Vlahcevic, highlighting her financial and technical expertise as valuable additions that could help enhance Tredegar's shareholder value.
Tredegar (NYSE:TG) reported Q3 2024 net loss of $(3.9) million ($(0.11) per share) compared to $(50.4) million loss in Q3 2023. Net income from ongoing operations was $0.2 million ($0.01 per share). Key highlights include: Aluminum Extrusions EBITDA of $6.2 million with sales volume of 34.6 million pounds; PE Films EBITDA of $5.9 million with sales volume of 9.6 million pounds. The company completed the sale of Terphane to Oben Group for $60 million in cash, with an additional $7 million expected from escrow funds.
Tredegar (NYSE:TG) has completed the sale of Terphane, its flexible packaging films business in Brazil, to Oben Group. The transaction, announced on September 1, 2023, involves a net cash-free and debt-free base consideration of $116 million. Tredegar expects to receive after-tax net proceeds of $85 million, including $78 million at closing and $7 million from escrow funds within 120 days. The sale aligns with Tredegar's strategic goals and positions Terphane for better growth opportunities within Oben's global flexible films operations.
Tredegar Surface Protection, a subsidiary of Tredegar (NYSE:TG), has launched Optennia, a new packaging film solution. The product uses 30% less petroleum-based resin compared to competitive products, offering an environmentally responsible alternative without compromising performance.
The new film combines durability with environmental responsibility, featuring improved weight-to-strength ratio, superior clarity, and enhanced graphic printing capabilities. According to President Arijit DasGupta, this innovation aligns with the company's commitment to sustainable manufacturing practices while maintaining their position as industry leaders in blown high-density packaging film solutions.
Tredegar (NYSE:TG) announced that Brazil's Administrative Council for Economic Defense (CADE) has approved the sale of its Terphane flexible packaging business to Oben Group. The transaction is expected to close on November 1, 2024, with certain post-closing commitments for Oben to address competition concerns.
The sale agreement, entered on September 1, 2023, involves a net cash-free and debt-free base consideration of $116 million. Tredegar anticipates after-tax net cash proceeds of $85 million, including $78 million at closing and $7 million from escrow funds release within 120 days. These figures are subject to change based on Terphane's final closing balance sheet.
Tredegar, an industrial manufacturer with three primary businesses, reported 2023 sales of $705 million and employs approximately 1,900 people globally. Oben Group is a significant player in the flexible packaging industry with over 32 years of experience and operations in more than 17 countries.
Tredegar Surface Protection, a subsidiary of Tredegar (NYSE:TG), has launched Obsidian Automotive Protective Films. This innovative product line is designed to meet the evolving needs of the automotive industry, offering unparalleled performance and protection.
The Obsidian line includes protective films for various applications:
- Automotive Interior: Films for displays, AR use, dashboards, center consoles, and rear seat entertainment, with anti-glare, anti-reflection, and anti-fingerprint coatings.
- Automotive Exterior: Films for windshields, cameras, and body components.
Arijit DasGupta, President of PE Films / Tredegar Surface Protection, highlighted the growing demand for surface protection of automotive displays. The Obsidian Automotive Protective Films are now available through Tredegar's global distribution network.
Bonnell Aluminum, a subsidiary of Tredegar (NYSE:TG), has partnered with the Aluminum Extruders Council (AEC) and the U.S. Department of Labor (DOL) to create an industry-specific Apprenticeship Program. The program aims to offer potential workers a career path in aluminum extrusions by developing skills in a structured, nationally accredited program with potential DOL funding.
The program, launched in 2023, consists of three phases:
- Phase I: Focuses on recruiting and training Industrial Maintenance Technician apprentices in a two-year program
- Phase II: Set to roll out in 2025, offering education for aluminum extrusion press operators and die shop technicians
- Phase III: Will add skilled trades such as CNC operation, robotics, and welding
Carl Czarnik, VP of Operations for Bonnell Aluminum, stated that the program benefits both participants and the company by helping identify, develop, and retain talent while allowing apprentices to learn a skilled trade at no cost.
Bonnell Aluminum, a subsidiary of Tredegar (NYSE: TG), has expressed satisfaction with the U.S. Department of Commerce's final ruling to implement anti-dumping and countervailing duties on unfairly traded imports of aluminum extrusions from 14 countries. This decision aims to address trade practices that have been deemed unfair in the aluminum extrusion industry. The company directs interested parties to a more detailed press release issued by The U.S. Aluminum Extruders Coalition on September 27, 2024, for additional information regarding the ruling and its implications.
Tredegar (NYSE:TG) reported its Q2 2024 financial results. Net income was $8.8 million ($0.26 per share), up from a loss of $18.9 million ($0.56 per share) in Q2 2023. Ongoing operations net income was $10.3 million ($0.30 per share), compared to a loss of $2.0 million ($0.06 per share) last year.
EBITDA from Aluminum Extrusions rose to $12.9 million from $10.2 million. Sales volume slightly decreased to 34.9 million pounds. PE Films saw EBITDA soar to $10.1 million from $0.8 million, with sales volume increasing to 10.5 million pounds. Flexible Packaging Films' EBITDA improved to $3.2 million from $0.2 million, with sales volume rising to 25.1 million pounds.
CEO John Steitz highlighted ongoing profitability and improved results across business segments. The company is cautious about costs while noting potential market share gains from favorable duties on aluminum imports. The Terphane sale process continues, pending regulatory approvals.
