UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 5, 2005
Tredegar Corporation |
(Exact Name of Registrant as Specified in its Charter) |
Virginia |
1-10258 |
54-1497771 |
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
1100 Boulders Parkway Richmond, Virginia |
|
23225 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrants telephone number, including area code: (804) 330-1000
_____________________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. | Other Events. |
Tredegar announced today that Nancy M. Taylor has been named President of Tredegar Corporations (Tredegar) wholly-owned subsidiary, Tredegar Film Products Corporation (Tredegar Film), effective immediately. Ms. Taylor, who will continue as Senior Vice President of Tredegar, will replace Thomas G. Cochran, who will be leaving Tredegar and Tredegar Film to pursue other opportunities. Tredegar also stated that the timing of these changes should not be construed to relate to Tredegars or Tredegar Films first-quarter financial and operating performance. A copy of the press release issued on April 5, 2005, announcing Ms. Taylors appointment and Mr. Cochrans resignation is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. |
Item 9.01. Financial Statements and Exhibits.
(c) | Exhibits. |
99.1 | Press Release, dated April 5, 2005. |
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SIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. |
Date: April 6, 2005 |
TREDEGAR CORPORATION By: /s/ D. Andrew Edwards D. Andrew Edwards Vice President, Chief Financial Officer and Treasurer |
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Tredegar Corporation Corporate Communications 1100 Boulders Parkway Richmond, Virginia 23225 E-mail: invest@tredegar.com Web Site: www.tredegar.com |
Contact: Mitzi S. Reynolds Phone: 804/330-1134 Fax: 804/330-1177 E-mail: mitzireynolds@tredegar.com |
FOR IMMEDIATE RELEASE TAYLOR NAMED PRESIDENT OF TREDEGARS FILM PRODUCTS SUBSIDIARYRICHMOND, Va., April 5, 2005 - 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, Tredegars 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. |
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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 STATEMENTSThe 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 Tredegars net sales in 2004. Tredegar Film Products' success in this regard depends on its ability to develop products that meet this customers requirements as well as market acceptance of this customers 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 Tredegars 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 raw materials. 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. # # # |