UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): October 8, 2019 (October 8, 2019)
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Tredegar Corporation
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(Exact name of registrant as specified in its charter)
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Virginia
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1-10258
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54-1497771
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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1100 Boulders Parkway
Richmond, Virginia
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23225
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(Address of principal executive offices)
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(Zip Code)
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Registrant's 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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s)
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Name of each exchange on which registered
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Common
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TG
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NYSE
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. ☐
| Item 8.01 |
Other Events.
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On October 8, 2019, Tredegar Corporation issued a press release announcing that its Bonnell Aluminum business unit, including its wholly-owned operating divisions AACOA Extrusions, AACOA Inc. and Futura Industries, will
implement a price increase as described in its Press Release dated October 8, 2019, a copy of which is attached hereto as Exhibit 99, which is incorporated herein by reference.
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Financial Statements and Exhibits.
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Exhibits.
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| 99 |
Press Release, October 8, 2019
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SIGNATURES
Pursuant 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.
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TREDEGAR CORPORATION
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Date: October 8, 2019
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By:
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/s/ D. Andrew Edwards
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D. Andrew Edwards
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Vice President and Chief Financial Officer
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Exhibit 99
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Tredegar Corporation
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Contact:
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Corporate Communications
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Neill Bellamy
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1100 Boulders Parkway
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Phone: 804/330-1211
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Richmond, Virginia 23225
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E-mail: neill.bellamy@tredegar.com
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Website: www.tredegar.com
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FOR IMMEDIATE RELEASE
Business Update on Tredegar’s Bonnell Aluminum Business Unit
RICHMOND, VA, October 8, 2019 – Tredegar Corporation (NYSE: TG, also the “Company” or “Tredegar”) today reported that its Bonnell Aluminum business unit announced that it will implement a selling price increase of $0.035 per pound and an
additional 5% on fabrication and finishing services effective on shipments beginning January 6, 2020, or as permissible by contract. The Company estimates that approximately 20 – 25% of Bonnell Aluminum’s net sales relate to applicable value-added
fabrication and finishing services. The price increase is in addition to selling price changes that normally occur from the passthrough to customers of aluminum raw material cost volatility.
John Steitz, Tredegar’s president and chief executive officer, said, “This price increase reflects the high value-added products and customer service that Bonnell provides and allows it to cover continuous cost pressures in the current tight
market for skilled labor and other areas, despite previously disclosed indicators of softening demand.”
Tredegar Corporation is a manufacturer of plastic films and aluminum extrusions. A global company headquartered in Richmond, Virginia, Tredegar had 2018 sales of $1.1 billion. With approximately 3,100 employees, the company operates manufacturing
facilities in North America, South America, Europe, and Asia.
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