RICHMOND, Va., October 25, 2011 – Tredegar Film Products Corporation, a subsidiary of Tredegar Corporation (NYSE:TG), has acquired Terphane Holdings LLC (“Terphane”), a manufacturer of specialty polyester films which serves the Latin American flexible packaging market and has a specialty focus in North America and Europe.
Terphane is headquartered in Brazil and is a market leading producer of thin polyester films in Latin America with a growing presence in strategic niches in the United States and Europe. Polyester films have specialized properties, such as heat resistance and barrier protection that make them uniquely suited for the fast-growing flexible packaging market. The company operates two manufacturing facilities (one in Cabo, Pernambuco, Brazil and one in Bloomfield, New York) that produce films primarily used in the food packaging and industrial markets. The company enjoys long-standing relationships with prominent South American and multi-national customers.
“We are excited about Terphane’s addition to the Tredegar family, and believe this expansion is a strategic fit which will enhance the capabilities of both Tredegar Film Products and Terphane,” said Monica Moretti, President of Tredegar Film Products. “We believe the strengths of Tredegar Film Products and Terphane in manufacturing and innovative solutions, along with an expanded global footprint, will enhance our ability to serve customers.”
Tredegar Film Products, a subsidiary of Tredegar Corporation (NYSE:TG), is one of the top global leaders in the plastic films industry with extensive manufacturing experience and 2010 net sales of $520 million. Our brand promise, Delivering Layers of ConfidenceTM, speaks to our core values of integrity, credibility, trust, and long term perspective, which foster confidence both internally and externally. Tredegar Film Products serves numerous markets: personal care, electronic displays, flexible packaging, building materials, and healthcare. Tredegar Film Products employs approximately 1,000 people at its production facilities in North America, South America, Europe and Asia.