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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): June 11, 1998
Tredegar Industries, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Virginia 1-10258 54-1497771
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(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation or Organization) Number) Identification No.)
1100 Boulders Parkway
Richmond, Virginia 23225
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (804) 330-1000
Item 2. Acquisition or Disposition of Assets
On June 11, 1998, in a series of related transactions, Bon L Canada
Inc., a Canadian corporation and an indirect wholly-owned subsidiary of Tredegar
Industries, Inc. ("Tredegar") acquired Exal Aluminum Inc. ("Exal"), a Canadian
corporation engaged in the manufacture of aluminum extrusions and the casting of
aluminum billet. Exal and Bon L Canada Inc. have been amalgamated and the
amalgamated entity, operating as Bon L Canada Inc. ("Bon L Canada"), will
continue in the aluminum extrusions business. In connection with the acquisition
and amalgamation, the Exal shareholders received, in the aggregate, cash in the
amount of USD$11.9 million and 126,724 shares of Class I non-voting preferred
shares of Bon L Canada (the "Class I Shares"). The Class I Shares are
exchangeable into shares of Tredegar common stock on a one-for-one basis. Each
Class I Share is economically equivalent to one share of Tredegar common stock.
Shares of Tredegar common stock to be delivered upon the exchange of the Class I
Shares will be newly-issued shares. In addition, immediately following the
transaction, the outstanding indebtedness of Exal was repaid by Bon L Canada in
the amount of USD$18.8 million. The source of the cash consideration paid in the
transaction and the cash used to repay Exal's indebtedness was from available
cash.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of Business Acquired.
Financial Statements with respect to the acquisition required by Item 7
of Form 8-K will be filed not later than August 21, 1998 (60 days from the date
of this Current Report on Form 8-K was required to be filed).
(b) Pro Forma Financial Information.
Pro Forma Financial Information with respect to the acquisition
required by Item 7 of Form 8-K will be filed not later than August 21, 1998 (60
days from the date of this Current Report on Form 8-K was required to be filed).
(c) Exhibits.
None.
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.
TREDEGAR INDUSTRIES, INC.
Date: June 23, 1998 By: /s/ N. A. Scher
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Norman A. Scher
Executive Vice President