RICHMOND, Va., June 15 /PRNewswire-FirstCall/ -- Tredegar Corporation
(NYSE: TG) has named Duncan A. Crowdis president of the William L. Bonnell
Company, its aluminum extrusions subsidiary. Effective immediately, Mr.
Crowdis will replace Albert A. Butler, who is retiring.
Norman A. Scher, Tredegar's president and chief executive officer said:
"Duncan brings more than 25 years of broad-based industry experience and
proven leadership skills to his new role as Bonnell's president. His
extensive background in operations, combined with his marketing and process
management skills, should help Bonnell enhance its position as an industry
Mr. Crowdis joined Bonnell in 1998 as manager of its Pickering, Ontario
plant, which was acquired when Bonnell purchased Exal Aluminum, Inc., a
Canada-based aluminum extruder. In 2000, he became the casting business
manager for Bonnell. He was promoted to chief process officer in 2001 and
held that position until March of 2005, when he was named manager of Bonnell's
plant in Newnan, Ga. Mr. Crowdis was Exal's vice president of metal and
business planning from 1994 to 1998. Prior to joining Exal, he was employed
with Alcan Aluminum for 19 years in a variety of technical, operations,
marketing and sales positions.
Mr. Crowdis received a bachelor's degree in engineering from Dalhousie
Headquartered in Newnan, Ga., Tredegar's Bonnell subsidiary is a major
producer of soft-alloy aluminum extrusions primarily for the building and
construction, distribution, transportation, electrical, machinery and
equipment, and consumer durables markets. The company employs approximately
1,800 people at its facilities in Newnan, Ga.; Carthage, Tenn.; Kentland,
Ind.; Pickering, Ontario; Richmond Hill, Ontario; Woodbridge, Ontario; and
Ste-Therese, Quebec. Bonnell's 2004 net sales totaled $425 million.
Based in Richmond, Va., Tredegar Corporation is a global manufacturer of
plastic films and aluminum extrusions. Tredegar is also developing and
marketing bone graft substitutes through its Therics subsidiary.
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
The words "believe," "hope," "expect," "are likely," and similar
expressions identify "forward-looking" statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. Such statements involve a number of risks and uncertainties that could
cause actual results to differ materially from those contained in the forward-
looking statements, including without limitation the following:
Sales volume and profitability of Aluminum Extrusions is cyclical and
highly dependent on economic conditions of end-use markets in the U.S. and
Canada, particularly in the construction, distribution and transportation
industries. Aluminum Extrusions' market segments are also subject to seasonal
slowdowns during the winter months. The markets for Aluminum Extrusions'
products are highly competitive with product quality, service, delivery
performance and price being the principal competitive factors. Although
Aluminum Extrusions targets complex, customized, service-intensive business
compared to higher volume, standard extrusion applications, Aluminum
Extrusions is under increasing domestic and foreign competitive pressures.
Foreign imports, primarily from China, currently represent less than 5% of the
North American aluminum extrusion market. Foreign competition to date has
been primarily large volume, standard extrusion profiles that impact some of
our less strategic end-use markets. Market share erosion in other end-use
markets remains possible.
Future performance is also influenced by the costs incurred by Tredegar's
businesses. There is no assurance that cost control efforts will offset cost
increases or any additional declines in revenues. Likewise, there is no
assurance of our ability to pass through to our customers cost increases in
Tredegar does not undertake to update any forward-looking statement made
in this press release to reflect any change in management's expectations or
any change in conditions, assumptions or circumstances on which such
statements are based.
SOURCE Tredegar Corporation
/CONTACT: Mitzi S. Reynolds of Tredegar Corporation, Phone:
+1-804-330-1134, Fax: +1-804-330-1177, email@example.com /
/Web site: http://www.tredegar.com /
CO: Tredegar Corporation; William L. Bonnell Company
IN: MNG CHM
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3347 06/15/2005 09:00 EDT http://www.prnewswire.com