Tredegar Corporation announced that it has agreed to sell its personal care films business to affiliates of Fitesa S.A. The Personal Care Films business, which is currently reported by Tredegar within the personal care component of its PE Films segment, has approximately 400 employees worldwide and includes manufacturing sites located in Terre Haute, Indiana; Kerkrade, The Netherlands; Rétság, Hungary; Diadema, Brazil; and Pune, India. The proposed transaction excludes the packaging film lines and operations relating to the Pottsville, Pennsylvania manufacturing site currently reported by Tredegar within the personal care component of its PE Films segment. Cash proceeds from the sale net of transaction costs, purchase price adjustments and transition services are estimated at $40 to $45 million. Net cash income tax costs or benefits relating to the transaction are expected to be negligible.
Neenah, Inc. (NYSE: NP), the leading North American supplier of reinforced medical packaging papers, announces an ultra-lightweight addition to their single-use sterile packaging offering. This innovative, high-performance solution introduces the market to a durable, cost-saving alternative to kraft and synthetic-based medical packaging traditionally used for nasal swabs, syringes, and other single-use applications.
“This ultra-lightweight addition brings new opportunities closer in reach with our global sterile supply chain partners,” says Valerie Henderson, Medical Packaging Product Manager for Neenah.
Single-use medical devices are gaining popularity as they help lower costs, increase efficiency, and reduce the spread of infection. Most single-use devices have a shelf life of 3-5 years, making it imperative that the sterilization process remain intact from supplier to opening at the final destination. Kraft-based medical packaging, used for single-use devices, can tear or burst due to packing or transportation style. It is essential that medical packaging be durable, especially if it is lightweight.
The new ultra-lightweight 72 gsm (grams per square meter) grade joins Neenah’s medical packaging offering that currently includes lightweight 85 gsm and heavyweight 112 gsm options. The entire paper-based product line is manufactured using FSC controlled fibers, compliant with regulatory standards, and accepts steam and Ethylene Oxide (EO) sterilization methods. These products also deliver superior breathable barrier properties, plus excellent conformability and printability.
“Recently, we’ve witnessed extreme and unprecedented growth in the wound care market. With this revolutionary, ultra-lightweight reinforced paper, Neenah is reacting in real-time to help our customers grow and embrace new opportunities. I’m excited to bring this innovative solution to the market,” says Jaime Zohrer, International Sales Development Manager for Neenah.