11:10 AM EDT, 11/01/2024 (MT Newswires) -- Tredegar ( TG ) said Friday it completed the $116 million sale of its flexible packaging films business Terphane to Oben Group.

Tredegar ( TG ) said it expects to receive after-tax net cash-free and debt-free cash of $85 million.

The company added that $78 million is payable on closing, and the remaining $7 million will be released from certain escrow funds within 120 days of closing.

Shares of Tredegar ( TG ) were up nearly 1% in recent trading.

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