Tredegar Corporation (TG) Announces Acquisition of Terphane for $188 Million
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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.
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.
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