Films to Locate R&D and Technical Center in Richmond, Va., page 2 Tredegar Film Products is a major supplier of apertured and elastic materials for use in personal and household care markets and also produces films for a variety of packaging and specialty markets. Primary applications include diapers and feminine hygiene products. Recent innovations include ComfortQuilt® topsheets, a cotton-like texture material designed specifically to maximize softness and cleanliness; StretchTab™ laminate, a combination of elastics, nonwoven and hook on one roll for closure systems; and ForceField™ and UltraMask®, surface protection specialty films. The subsidiary had sales of $381 million for the last 12 months ended June 30, 2004, and employs approximately 1,200 people at its production facilities in North America, South America, Europe and Asia. Based in Richmond, Va., Tredegar Corporation is a global manufacturer of plastic films and aluminum extrusions. Tredegar is also developing and marketing bone graft substitutes through its Therics subsidiary. FORWARD-LOOKING AND CAUTIONARY STATEMENTS The words “believe,” “hope,” “expect,” “are likely,” and similar expressions identify “forward-looking” statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements, including without limitation the following: TredegarFilm Products is highly dependent on sales to one customer, which comprised approximately 30% of Tredegar’s net sales in 2003. Tredegar Film Products' success in this regard depends on its ability to develop products that meet this customer’s requirements as well as market acceptance of this customer’s products. Our ability to grow Tredegar Film Products and attract new customers depends on developing and delivering new products, especially in the personal care market. Personal care products are now being made with a variety of new materials, replacing traditional backsheet and other components. While we have substantial technical resources, there can be no assurance that our new products can be brought to market successfully, or at the same level of profitability and market share of replaced films. A shift in customer preferences away from our technologies, our inability to develop and deliver new profitable products, or delayed acceptance of our new products in domestic and foreign markets, could have a material adverse effect on our business. Future performance is also influenced by the costs incurred by Tredegar’s businesses. There is no assurance that cost control efforts will offset cost increases or any additional declines in revenues. Likewise, there is no assurance of our ability to pass through to our customers cost increases in raw materials. — more —
|
