RICHMOND, Va., April 5 /PRNewswire-FirstCall/ -- Tredegar Corporation
(NYSE: TG) has named Nancy M. Taylor president of its film products
subsidiary, effective immediately. Ms. Taylor, who will continue as senior
vice president of Tredegar, will replace Thomas G. Cochran, who is leaving the
company to pursue other opportunities.
"Nancy has made significant contributions to Tredegar for 14 years,
including two years as managing director in Europe for films, and I am
extremely pleased to announce her new role with the company," said Norman A.
Scher, Tredegar's president and chief executive officer.
Mr. Scher continued, "We would like to thank Tom for his many
contributions to Tredegar. We appreciate the role he has played in bringing
the films subsidiary to its current competitive position in the industry. We
wish him well in his future endeavors."
Mr. Scher added that the timing of this change should not be construed to
relate to first-quarter results for Tredegar or Tredegar Film Products.
Ms. Taylor joined Tredegar in 1991 as assistant general counsel and was
named corporate counsel and secretary in 1994. In 1997, she was named general
counsel and elected vice president in 1998. She was named vice president,
administration and corporate development in 2001. In early 2003, Ms. Taylor
became managing director, Europe, for Tredegar Film Products, where she was
responsible for all film operations in Europe. Ms. Taylor returned to
Richmond at the end of 2004 after being named senior vice president for
strategy and special projects.
Ms. Taylor received a B.A. degree from College of the Holy Cross and a law
degree from Catholic University of America.
Tredegar Film Products is a major supplier of apertured and elastic
materials for use in personal care markets. Primary applications include
diapers and feminine hygiene products. It also produces films for a variety
of packaging and specialty markets. The subsidiary had sales of $413 million
in 2004, and employs approximately 1,200 people at its production facilities
in North America, South America, Europe and Asia.
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:
Tredegar Film Products is highly dependent on sales to one customer, which
comprised approximately 27% of Tredegar's net sales in 2004. Tredegar Film
Products' success in this regard depends on its ability to develop products
that meet this customer's requirements as well as market acceptance of this
customer's products and its marketing and production scheduling. Our ability
to grow Tredegar Film Products and attract new customers depends on developing
and delivering new products, especially in the personal care market. Personal
care products are now being made with a variety of new materials, replacing
traditional backsheet and other components. While we have substantial
technical resources, there can be no assurance that our new products can be
brought to market successfully, or at the same level of profitability and
market share of replaced films. A shift in customer preferences away from our
technologies, our inability to develop and deliver new profitable products, or
delayed acceptance of our new products in domestic and foreign markets, could
have a material adverse effect on our business.
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, +1-804-330-1134,
Fax: +1-804-330-1177, or email@example.com/
/Web site: http://www.tredegar.com /
CO: Tredegar Corporation; Tredegar Film Products
IN: CHM MNG TEX
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2817 04/05/2005 08:45 EDT http://www.prnewswire.com