Tredegar subsidiary plans purchase of polyester films manufacturer
- October 17, 2011
Tredegar Firm Products Corp. has agreed to acquire Terphane Holdings LLC, which manufactures specialty polyester films in Brazil and the U.S.
Tredegar Film Products, a subsidiary of Richmond-based Tredegar Corp., will purchase Terphane from investment firm Vision Capital for $188 million using cash and financing from Tredegar’s $300 million credit facility.
The acquisition is expected to close at the end of the month.
Terphane, which is based in São Paulo, Brazil, had revenues of about $160 million over the past year. Its polyester films are used in the flexible packaging market.