This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tredegar Corporation Announces Acquisition Of Terphane

Tredegar Corporation (NYSE:TG) announced today that its subsidiary, Tredegar Film Products Corporation, has completed the acquisition of Terphane Holdings LLC (“Terphane”), a leading manufacturer of specialty polyester films with operations in Brazil and the United States.

The approximate purchase price of $188 million was funded using available cash on hand and financing secured from Tredegar’s existing $300 million credit facility. The acquisition is expected to be accretive within the first year following the acquisition. With revenues of approximately $160 million for the last twelve months, as of June 30, 2011, Terphane is a market leading producer of thin polyester films in Latin America with a growing presence in strategic product niches in the United States.

Commenting on the acquisition, Nancy Taylor, Tredegar’s President and CEO, said, “Welcoming Terphane to the Tredegar family provides us with significant opportunities to broaden our product portfolio and end-use markets and grow in a key global region. Terphane’s high-value, differentiated products will extend our product offerings into the food and consumer packaging markets. Its strengths in films manufacturing, technology and product commercialization align well with those of Tredegar Film Products. Much like Tredegar Film Products, Terphane enjoys deep, long-term relationships with global customers in Latin America, which is one of the fastest-growing geographic markets in the world.”

Terphane will be operated within Tredegar Film Products, and the current management team at Terphane will continue to run its operations. Monica Moretti, President of Tredegar Film Products, commented, “We are thrilled to join forces with Terphane, an established, successful, and growing company in Brazil, which gives us a much larger presence in Latin America. Bringing together Tredegar Film Products and Terphane will allow us to leverage each company’s strengths and share best practices. We expect Terphane to benefit from the long-term perspective that Tredegar offers as we execute on its growth strategy.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,723.27 +93.00 0.53%
S&P 500 2,102.65 +9.40 0.45%
NASDAQ 5,093.7970 +4.5910 0.09%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs