RICHMOND, Va.--(BUSINESS WIRE)--Tredegar Surface Protection (a subsidiary of Tredegar Corporation NYSE:TG), announced today that it will implement a resin index based pricing plan that will apply to all products and customers, in response to unprecedented price increases and supply issues for polyethylene and polypropylene resin. This bilateral pricing model, which allows for decreases if resin prices fall in the future, will be effective on all shipments beginning July 1, 2021.
Citing growing cost pressures, Dr. Bapi DasGupta, president of Tredegar Surface Protection, said, “While we are seeing cost inflation in many areas, the increase in the cost of our primary raw material is the most challenging, given that resin prices have doubled over the past year. In addition, resin supply continues to be tight as a result of recent force majeure events and issues associated with COVID-19 conditions, including supply chain delays. We continue to focus on cost-control measures across our business and remain fully committed to delivering industry-leading product quality and supply reliability to our customers.”
About Tredegar Surface Protection
Tredegar Surface Protection provides highly specialized masking films to the world’s leading manufacturers of optical films and specialty substrates used in displays, semi-conductors, and automotive applications, as well to leading manufacturers of specialty personal protective equipment, including face shields. Combining world class supply and service reliability with industry-leading quality, Tredegar’s Surface Protection films enable our customers to maximize their manufacturing yields and efficiencies, leading to significant cost savings. Our manufacturing footprint, which includes manufacturing facilities in the U.S. and China, is strengthened by a global sales team and dedicated technical and R&D services. Learn more at www.tredegarsurfaceprotection.com.
About Tredegar Corporation
Tredegar Corporation is an industrial manufacturer with three primary businesses: custom aluminum extrusions for the North American building & construction, automotive and specialty end-use markets; surface protection films for high-technology applications in the global electronics industry; and specialized polyester films primarily for the Latin American flexible packaging market. Tredegar had 2020 sales from continuing operations of $755 million. With approximately 2,400 employees, the Company operates manufacturing facilities in North America, South America, and Asia.