Bonnell Aluminum, a subsidiary of Tredegar Corporation (NYSE:TG), announced today that its new extrusion line has begun production, and the volume ramp-up is progressing as planned.
“We are excited about our early entry to the automotive industry, at a time when fuel efficiency standards are driving growth in aluminum content in vehicles,” said Brook Hamilton, President of Bonnell Aluminum. He added, “With our state-of-the-art equipment, outstanding technical resources, and registered automotive quality management system, we believe we have positioned Bonnell as a premier supplier in this growing market.”
Early last year, the Company announced it was investing approximately $17 million in an expansion project at its Newnan, Georgia facility. This project includes the addition of a new 9”–3,600 ton state-of-the-art aluminum extrusion press fully dedicated to serving the growing demand for aluminum extruded components from automotive and light truck original equipment manufacturers.
The Company previously announced in July 2013 that it had achieved ISO/TS 16949 registration from the International Organization for Standardization / Technical Specification. This technical specification aligns global automotive quality systems standards and fosters the development of a quality management system for use in the automotive supply chain.About Bonnell Aluminum Bonnell Aluminum is a subsidiary of Richmond, VA, based Tredegar Corporation. (NYSE:TG). The company produces soft and medium-strength alloy aluminum extrusions for building and construction, machinery and equipment, consumer durables, transportation, electrical and distribution markets. FORWARD-LOOKING AND CAUTIONARY STATEMENTS “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements regarding Tredegar Corporation’s business. These forward-looking statements are not historical facts, but statements that involve risks and uncertainties. Actual results could differ materially from those included in or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by these forward-looking statements include the factors discussed in the reports Tredegar files with or furnishes to the Securities and Exchange Commission (the “SEC”) from time-to-time, including the risks and important factors set forth in additional detail in “Risk Factors” in Part I, Item 1A of Tredegar’s 2012 Annual Report on Form 10-K filed with the SEC. Readers are urged to review and consider carefully the disclosures Tredegar makes in its filings with the SEC. Except as required by applicable law or regulations, Tredegar does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statement.