Acquisition boosts Tredegar earnings
Feb 15, 2013 | 04:26 PM
| Michael Cowden
Tags
Tredegar,
earnings report,
Nancy Taylor,
Bonnell Aluminum,
Aacoa,
Kentland,
aluminum,
aluminum extrusions
Michael Cowden
CHICAGO — Tredegar Corp.’s earnings were bolstered in the fourth quarter thanks to subsidiary Bonnell Aluminum Inc.’s acquisition of Aacoa Inc.
"We’re excited about the future opportunities that this acquisition provides," Nancy Taylor, president and chief executive officer of Richmond, Va.-based Tredegar, said in a statement released with earnings Feb. 14.
Newnan, Ga.-based extruder Bonnell Aluminum bought competitor Aacoa for $50.8 million last fall. Aacoa serves the consumer durables, transportation, and machinery and equipment markets from its aluminum anodizing plant in Elkhart, Ind., and its extrusion and fabrication facility in Niles, Mich. (amm.com, Oct. 1). The acquisition should allow Tredegar to broaden its capabilities and more actively participate in markets outside of building and construction, Taylor said.....
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