RICHMOND, VA. - In a move aimed at consolidating its plastic film production in Latin America, Richmond-based Tredegar Industries Inc., has purchased the polyethylene film business of Duperial A.S.I.C. of Buenos Aires, Argentina. The company will be known as Tredegar Film Products-Argentina. Duperial is a subsidiary of ICI plc of London, and sale of the plant ends ICI's presence in South America.
Duperial produces films for disposable diapers and agricultural products sold primarily in Argentina and Chile. Tredegar Film Products-Argentina will take over Duperial's 35,000-square-foot plant in San Juan, Argentina, and its headquarters in Buenos Aires. The San Juan facility is the only plant Duperial operates.
Tredegar spokesman Edward Cunningham said the purchase amounts to a buyout of a competitor and positions the company well in South America.
``We have the plant in Brazil, and this one now, so we are going through with our intended course of focusing on the southern cone of South America as part of our policy of expansion worldwide,'' he said.
Cunningham said the southern parts of South America are targeted because they are underdeveloped as markets, especially for the disposable diaper business.
Tredegar Film Products, also based in Richmond, was 23rd in the Plastics News ranking of North American film and sheet makers for 1994, with $160 million in total sales. The firm manufactures plastic film for personal products, industrial and agricultural applications.