Tredegar sell its aluminum extrusion division in Canada

Tredegar sell its aluminum extrusion division to H.I.G. Capital filial—WXP at a price $25m on 7th in January. Tredegar will get $11m tax profit from this transaction. Tredegar also said it will also invest $24m on Carthage aluminum extrusion plant in Tennessee in the following 18 months, to raise its production to 5,500 ton. President and CEO of Tredegar John D. Gottwald said “this transaction will bring cash profit, eliminate the damage made in last year. 60% of aluminum extrusion products are not used on non-domestic building industry. It is reported that Tredegar will released its income in 4Q. Moreover, board of directors permits a $5m buy-back plan.