NEWNAN, Ga.--(BUSINESS WIRE)--The William L Bonnell Company Inc., announced today that its parent company, Tredegar Corporation (NYSE:TG), has agreed to acquire 100% ownership of Futura Industries. Upon the closing of the transaction, which is expected by mid-February, Futura will become an operating division of Bonnell Aluminum.
Futura, headquartered in Clearfield, Utah, with a national sales presence and particular strength in the western U.S., designs and manufactures a wide range of extruded aluminum products for a number of industries and end markets, including branded flooring trims and TSLOTS, as well as OEM components for truck grills, solar panels, fitness equipment and other applications. Futura has approximately 350 employees. For additional information, please visit www.futuraind.com.
Commenting on the acquisition, Brook Hamilton, President of Bonnell Aluminum, stated, “Following our successful acquisition of AACOA in October 2012, we have been actively searching for another acquisition that meets our stated goals for broadening our served markets and value-added capabilities. In Futura, we have found a top-quality manufacturer with a very strong management team that will help us move toward our strategic objectives in both growth and diversification.”
Jared Bringhurst, president of Futura, stated, “We are thrilled to join forces with Bonnell Aluminum. The strong strategic fit extends to our similar customer-centric cultures and values, and this move provides an excellent platform for us to grow the business together.”
About Tredegar Corporation and Bonnell Aluminum
Tredegar Corporation is a manufacturer of plastic films and aluminum extrusions. A global company headquartered in Richmond, Virginia, Tredegar had 2015 sales of $896 million. With approximately 2,800 employees, the company operates manufacturing facilities in North America, South America, Europe, and Asia. Bonnell Aluminum and its operating division, AACOA, manufacture finished and fabricated soft and medium-strength alloy aluminum extrusions for building and construction, automotive, machinery and equipment, consumer durables, transportation, electrical and distribution markets.
