Tredegar ( (TG) ) has issued an announcement.
Tredegar Corporation successfully completed the sale of its Brazilian-based subsidiary, Terphane, to Oben Group for $116 million, marking a strategic milestone for both companies. This divestiture allows Tredegar to focus on its core businesses, while Oben Group, a significant player in the flexible films industry, plans to capitalize on new growth opportunities. Tredegar anticipates net proceeds of $85 million after taxes and adjustments, highlighting a promising financial outcome from the transaction.
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