Item 1.01.        Entry into a Material Definitive Agreement.

On February 29, 2008, Tredegar Corporation (the “Corporation”), as borrower, and certain of its domestic subsidiaries that from time to time become parties thereto (the “Subsidiaries”), as guarantors, entered into the First Amendment to Credit Agreement (the “Amendment”) with Wachovia Bank, National Association, as administrative agent on behalf of the lenders, under the Corporation’s $300,000,000, revolving, unsecured credit facility (the “Credit Agreement”) maturing December 15, 2010. The Credit Agreement was included as Exhibit 10.16 to the Corporation’s Current Report on Form 8-K which was filed on December 20, 2005, and is incorporated herein by reference. Capitalized terms that are used but not defined in this Form 8-K shall have the meanings ascribed to such terms as set forth in the Credit Agreement.

The Amendment (i) changes the requirement for Minimum Consolidated Stockholders’ Equity from $382 million to $315 million as of September 30, 2007, (ii) changes the definition of Permitted Investments from 15% of Consolidated Stockholders’ Equity to a fixed $75 million basket, (iii) resets Permitted Investments to exclude any past investments and (iv) permits the Corporation to dissolve or dispose of Subsidiaries (excluding Significant Subsidiaries) without prior notification to Wachovia as Agent.

This description of the Amendment is not complete and is qualified in its entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.18 and incorporated herein by reference.

The information required by this Item 2.03 is included in Item 1.01 and incorporated herein by reference.

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(h)        additional loans, advances and/or Investments of a nature not contemplated by the foregoing or following clauses hereof; provided that such loans, advances and/or Investments made pursuant to this clause  (h) shall (i) not exceed an aggregate amount of more than $75,000,000 at any time outstanding and (ii) be accounted for at original cost or amount invested, loaned or advanced for the purposes of determining compliance with this limitation; and

(i)         Investments existing as of the First Amendment Effective Date and set forth on Schedule 1.01.

1.3        Amendment to Section 6.04. Section 6.04 of the Credit Agreement is hereby amended by adding the following clause (e) to the end of such section and making the appropriate punctuation and grammatical changes thereto as follows:

(e)       any Credit Party or any of its Subsidiaries from dissolving or disposing of any Subsidiary (other than Significant Subsidiaries).

1.4        Amendment to Section 6.07. Section 6.07 is hereby amended and restated in its entirety to read as follows:

Permit Consolidated Stockholders’ Equity, at any time, to be less than $315,000,000 increased on a cumulative basis at the end of each fiscal quarter of the Borrower, beginning with the fiscal quarter ended September 30, 2007, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended.

ARTICLE II

CONDITIONS TO EFFECTIVENESS

2.1        Closing Conditions. This Amendment shall become effective as of the day and year set forth above (the “Amendment Effective Date”) upon satisfaction of the following conditions (in form and substance reasonably acceptable to the Administrative Agent):

(a)        Executed Amendment. The Administrative Agent shall have received a copy of this Amendment duly executed by each of the Credit Parties and the Administrative Agent, on behalf of the Required Lenders.

(b)        Executed Consents. The Administrative Agent shall have received executed consents, in substantially the form of Exhibit A attached hereto, from the Required Lenders authorizing the Administrative Agent to enter into this Amendment on their behalf. The delivery by the Administrative Agent of its signature page to this Amendment shall constitute conclusive evidence that the consents from the Required Lenders have been obtained.

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