Business Update on Tredegar’s Bonnell Aluminum Business Unit
October 08 2019 - 4:08PM
Business Wire
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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version on businesswire.com: https://www.businesswire.com/news/home/20191008005893/en/
Neill Bellamy Phone: 804/330-1211 E-mail:
neill.bellamy@tredegar.com
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