Breaking News

Tredegar To Shut Down Georgia Facility

February 2, 2006

Tredegar Film Products will close its plant in LaGrange, GA by May 1 after efforts to find a buyer for the facility were unsuccessful. The plant, which employs 76 people, has been for sale since early 2005. Efforts to find a suitable buyer have been unsuccessful.
    Tredegar expects to recognize charges related to the shutdown of $3.8 million including fixed asset impairment charges of $1.6 million and other shutdown-related costs of $2.2 million.
    The LaGrange facility had sales of commodity blown films of approximately $20 million in 2005 and was operating at about the break-even level, according to reports. In January 2005, the company announced it would explore the sale of the LaGrange plant, which makes blown films for adult incontinence and baby diaper backsheets and feminine hygiene pad pouch packaging, in an effort to focus more exclusively on apertured, elastic and specialty materials.
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