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Tredegar Corporation (NYSE: TG), headquartered in North Chesterfield, Virginia, is a prominent player in the global manufacturing sector. The company operates through its subsidiaries, which specialize in the production of polyethylene plastic films, polyester films, and aluminum extrusions. With over 1,700 employees and 13 locations spanning North America, Europe, Asia, and South America, Tredegar serves a diverse range of markets and industries.
Tredegar Film Products, a key subsidiary, is a global leader in the plastic films industry. The company offers a wide array of capabilities in polyethylene, polypropylene, elastics, and polyester films. These products are essential in various applications, including personal care, electronic displays, food packaging, and lighting. Tredegar Film Products prides itself on its innovative research and development, enabling it to meet the evolving demands of global markets effectively. Their motto, “layers of confidence”™, underscores their commitment to quality and reliability.
Another significant segment of Tredegar's operations is its Aluminum Extrusions division, which generates the majority of the company's revenue. This division produces high-quality, soft-alloy, and medium-strength aluminum used in a range of applications, including building and construction, automotive, consumer durables, machinery and equipment, electrical, and distribution markets.
Tredegar Corporation's strategic focus on innovation and quality, combined with its extensive global footprint and local supply capabilities, positions it well for continued growth and success. The company is committed to expanding its reach in diverse markets worldwide, delivering reliable and high-performance products that meet the rigorous demands of its customers.
Recent Achievements and News:
- The company has recently strengthened its market presence with strategic partnerships and collaborations.
- Ongoing projects include the development of advanced films for electronic displays and sustainable packaging solutions.
- Financially, Tredegar maintains a robust position, with steady revenue streams from the United States, Asia, and Brazil.
For the latest updates and relevant information about Tredegar Corporation's performance, events, and developments, please stay tuned to our news section.
Tredegar (NYSE: TG) announced an update on the sale of its flexible packaging films business, Terphane, to Oben Group. The Brazilian General Superintendence of the Administrative Council for Economic Defense (SG-CADE) issued a non-binding opinion recommending rejection of the transaction. However, this opinion isn't final; the case now moves to the CADE Tribunal for independent analysis. Tredegar CEO John Steitz expressed confidence in a positive outcome, emphasizing the cooperative approach with Brazilian authorities. The final decision is expected by November 18, 2024. Tredegar had 2023 sales of $705 million and operates globally with around 1,900 employees.
Tredegar reported first quarter 2024 net income of $3.3 million compared to a loss in the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for Aluminum Extrusions decreased, while PE Films and Flexible Packaging Films showed improvement. The sale of Terphane is pending approval. Debt levels increased due to higher working capital.
Bonnell Aluminum, a subsidiary of Tredegar (NYSE: TG), welcomes the U.S. Department of Commerce's decision to impose preliminary dumping duties on unfairly traded imports of aluminum extrusions. The ruling comes as a positive development for the company and the industry. For more information, refer to the May 2, 2024, press release by The U.S. Aluminum Extruders Coalition.
Tredegar (NYSE:TG) will hold its 2024 annual meeting of shareholders virtually on May 9, 2024. Shareholders can vote and ask questions online. Financial results for the first quarter of 2024 will be released on the same day.
Shareholders attending the virtual meeting can pre-register online and vote using their control number. Guests can listen but not ask questions. Tredegar is an industrial manufacturer with three primary businesses and had 2023 sales of $705 million.
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