Welcome to our dedicated page for Tredegar news (Ticker: TG), a resource for investors and traders seeking the latest updates and insights on Tredegar stock.
Tredegar Corporation (NYSE: TG) news covers an industrial manufacturer with two primary businesses: custom aluminum extrusions for North American building and construction, automotive and specialty end-use markets, and surface protection films for high-technology applications in the global electronics industry. Company press releases and SEC-related announcements provide regular updates on how these operations are performing and evolving.
Investors and industry observers following TG news will see detailed quarterly and annual earnings releases that break down segment results for Aluminum Extrusions (Bonnell Aluminum) and PE Films. These updates include information on sales volume by end-use market, net sales, EBITDA from ongoing operations, net new orders, open orders and commentary on factors such as tariffs, trade cases, sales mix and manufacturing efficiency.
Tredegar’s news flow also includes corporate developments, such as leadership transitions in the roles of President and Chief Executive Officer, Chief Financial Officer and principal accounting officer, as well as appointments to the Board of Directors. The company has issued announcements on executive retirements, elections of successors and related governance matters.
Another recurring theme in Tredegar’s news is portfolio management. The company has reported on the completion of the sale of Terphane, its flexible packaging films business headquartered in Brazil, to Oben Group, and has described this transaction as completing a strategic goal related to its flexible packaging operations.
For readers tracking TG, this news page aggregates earnings releases, trade and tariff commentary, segment performance discussions and governance updates in one place, making it easier to monitor how Tredegar’s aluminum extrusions and surface protection films businesses respond to market conditions and policy changes over time.
Tredegar Corporation (NYSE:TG) has announced the retirement of Michael J. Schewel as Executive Vice President, General Counsel, and Corporate Secretary, effective January 1, 2021. He has been with the company since 2016. Kevin C. Donnelly, who joined Tredegar in 2010 and has served as Associate General Counsel since 2013, will replace him. John M. Steitz, President and CEO, praised Schewel's contributions and expressed confidence in Donnelly's capabilities. Tredegar reported 2019 sales of $826 million, operating in industries including aluminum extrusions and surface protection films.
Tredegar Corporation (NYSE: TG) has declared a special dividend of $200 million or $5.97 per share, payable on December 18, 2020, to shareholders of record by December 11, 2020. This decision was attributed to the company's strong cash generation capabilities, with $28 million in cash above its debt as of September 30, 2020. The cash position improved due to the closing of the sale of its Personal Care business, generating estimated net proceeds of $45 to $50 million.
Tredegar Corporation (NYSE: TG) reported a third quarter 2020 net loss of $17 million ($0.51 per share), compared to net income of $15.1 million ($0.45 per share) in Q3 2019. Net income from ongoing operations was nearly flat at $13.2 million ($0.39 per share) versus $13.3 million ($0.40 per share) YoY. The Company completed the sale of its Personal Care Films business for $60.5 million. Key segments showed mixed results, with Aluminum Extrusions EBITDA stable at $16.5 million, while PE Films EBITDA decreased by $4.3 million. Cash flow improved significantly, reaching $28 million in excess of debt by Q3's end.
Tredegar Corporation (NYSE:TG) has successfully concluded the sale of its Personal Care Films business to Fitesa S.A., a leader in nonwoven fabrics. The transaction is expected to yield net cash proceeds of $45 to $50 million, with minimal tax implications. The Personal Care Films will be reported as a discontinued operation in the third quarter financial results. Tredegar operates across three primary sectors: aluminum extrusions, surface protection films, and specialty polyester films, with 2019 sales of $826 million and approximately 2,500 employees worldwide.