RICHMOND - Tredegar Corporation (NYSE:TG), a manufacturer specializing in aluminum extrusions and surface protection films with a market capitalization of $261.6 million and annual revenue of $717.37 million, announced the appointment of Chris Vlahcevic as an independent director to its Board of Directors. The addition aims to leverage Vlahcevic's extensive financial and technical experience to enhance shareholder value.
Chris Vlahcevic, a certified public accountant, holds a Bachelor of Science degree from the McIntire School of Commerce at the University of Virginia. Her career includes a tenure as Senior Vice President, Finance and Chief Accounting Officer, at Performance Food Group (NYSE:PFGC) from 2015 to 2023. Vlahcevic has also held leadership roles across various sectors, including biotechnology, financial services, manufacturing, and nonprofit organizations. Her appointment comes as Tredegar's stock has shown strong momentum, delivering a 50.48% return over the past year. According to InvestingPro analysis, the company currently trades slightly above its Fair Value.
Greg Pratt, Chairman of the Board of Tredegar, expressed his confidence in Vlahcevic's abilities to contribute positively to the company's growth. "Chris's financial and technical expertise make her a valuable addition to the Board," Pratt stated, underscoring the strategic intent behind the appointment.
With approximately 1,500 employees, Tredegar operates manufacturing facilities in North America and Asia, focusing on serving the building & construction, automotive, and electronics industries among other specialty markets.
The appointment of Vlahcevic comes at a time when corporate governance and the diversification of board expertise are increasingly seen as critical to business success and investor confidence.
The information regarding Chris Vlahcevic's appointment and her qualifications is based on a press release statement from Tredegar Corporation.
In other recent news, Tredegar Corporation has received approval from Brazil's Administrative Council for Economic Defense (CADE) to sell its flexible packaging business, Terphane, to the Oben Group. The transaction, set to be finalized on November 1, 2024, was initially agreed upon on September 1, 2023. Tredegar is expected to net $85 million from the sale, including $78 million at closing and an additional $7 million from certain escrow funds within 120 days after the closing.
In additional developments, Tredegar has introduced a new product line, Obsidian Automotive Protective Films, through its subsidiary, Tredegar Surface Protection. The films, developed in response to the growing demand for surface protection in automotive applications, cater to various automotive needs and are now available globally.
These recent developments underscore Tredegar Corporation's commitment to innovation and its ability to adapt to market demands. The company, which reported $705 million in sales in 2023, operates manufacturing facilities across North America, South America, and Asia with approximately 1,900 employees.
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