RICHMOND, Va.--(BUSINESS WIRE)--Jul. 7, 2015--
Tredegar Corporation (NYSE:TG) announced that Tredegar Film Products
will downsize its manufacturing facility in Lake Zurich, Illinois. The
facility, which currently employs 134 people, is expected to downsize
over the next two years as products are transferred to other film
products manufacturing facilities.
Mary Jane Hellyar, president of Tredegar Film Products, said: “This was
a difficult decision to make, and we regret the impact that it will have
on our employees in Lake Zurich; in particular, I want to recognize
their dedication and significant contributions to Films. While our
intent has been to generate sufficient new business to maintain all of
our domestic plants, the reality is that we see most of our growth
coming from markets outside of North America, and we expect this trend
to continue.”
Ms. Hellyar added: “We have made significant capacity investments in
developing markets to better meet our customers’ demands for local
supply. As we reduce Films’ footprint in the U.S., we will be
transferring most of Lake Zurich’s volume to our other manufacturing
facilities over the next two years. Lake Zurich’s capability for elastic
laminates and certain elastics films will remain operational. We will
work closely with our customers to ensure that they receive the quality
and service they have come to expect from Tredegar.”
Among the top global leaders in the plastic films industry, Tredegar
Film Products manufactures plastic films, elastics, and laminate
materials for the personal care, electronic display, flexible packaging,
lighting and other specialty film markets. With a global R&D structure
and locations throughout North America, Europe, Asia, and South America,
Tredegar Film Products provides local support and innovative solutions
to meet our customers’ needs. Additional information regarding Tredegar
Film Products is available at www.tredegarfilms.com.
Tredegar Corporation is a manufacturer of plastic films and aluminum
extrusions. A global company headquartered in Richmond, Virginia,
Tredegar had 2014 sales of $952 million. With approximately 2,700
employees, the company operates manufacturing facilities in North
America, South America, Europe, and Asia.
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Source: Tredegar Corporation
Tredegar Corporation
Neill Bellamy, 804-330-1211
Fax:
804-330-1777
neill.bellamy@tredegar.com