The approximate purchase price of $188m was funded using available cash on hand and financing secured from Tredegar’s existing $300m credit facility. The acquisition is expected to be accretive within the first year following the acquisition.
Nancy Taylor, Tredegar’s president and CEO, said: “Welcoming Terphane to the Tredegar family provides us with significant opportunities to broaden our product portfolio and end-use markets and grow in a key global region. Terphane’s high value, differentiated products will extend our product offerings into the food and consumer packaging markets.
“Its strengths in films manufacturing, technology and product commercialisation align well with those of Tredegar Film Products. Much like Tredegar Film Products, Terphane enjoys deep, long-term relationships with global customers in Latin America, which is one of the fastest-growing geographic markets in the world.”
Source: Tredegar Corporation
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