The United States Postal Service is increasing the safety and security of its collection box procedures through a modification of the long-standing Aviation Mail Security Rule, which was established in August 1996 and called for all packages weighing 16 ounces to be presented in person to a postal clerk or a letter carrier. The action was taken to enhance security measures and to protect the public, postal employees and postal contractors who transport the U.S. Mail. In 2007, the weight allowance was decreased to 13-ounces or more for all anonymous mail. Since then, packages and other mail pieces weighing 13 ounces or more, bearing only stamps as postage must only be presented to a postal employee at a retail counter. This month’s update to the rule will enhance the existing safety program by prohibiting packages with stamps as postage that are more than one-half inch thick and/or weigh more than 10 ounces from anonymously being entered into the mail stream through collection boxes or Post Office mail slots. Packages and all other mail pieces of this type will now need to be taken to a retail counter. This change is effective Oct. 1, 2019.
Tredegar Corporation (NYSE: TG, also the “Company” or “Tredegar”) today reported that its Bonnell Aluminum business unit announced that it will implement a selling price increase of $0.035 per pound and an additional 5% on fabrication and finishing services effective on shipments beginning January 6, 2020, or as permissible by contract. The Company estimates that approximately 20 – 25% of Bonnell Aluminum’s net sales relate to applicable value-added fabrication and finishing services. The price increase is in addition to selling price changes that normally occur from the passthrough to customers of aluminum raw material cost volatility.
John Steitz, Tredegar’s president and chief executive officer, said, “This price increase reflects the high value-added products and customer service that Bonnell provides and allows it to cover continuous cost pressures in the current tight market for skilled labor and other areas, despite previously disclosed indicators of softening demand.”
Tredegar Corporation is a manufacturer of plastic films and aluminum extrusions. A global company headquartered in Richmond, Virginia, Tredegar had 2018 sales of $1.1 billion. With approximately 3,100 employees, the company operates manufacturing facilities in North America, South America, Europe, and Asia.