Tredegar Film Products, a subsidiary of plastic films manufacturer Tredegar, has completed the $188m acquisition of polyester films manufacturer Terphane.

Tredegar president and CEO Nancy Taylor said that the acquisition allows the company to broaden its product portfolio, and that Terphane’s products will extend Tredegar’s product offerings into the food and consumer packaging markets.

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Post acquisition, Terphane will be operated within Tredegar Film Products, with the company’s current management team will continue to run its operations.

Terphane, which produces thin polyester films in Latin America, registered revenues of about $160m for full year 2011.

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