Woodbridge Group forms joint venture with Inoac
The technical foam facilities of Mississauga, Ont.-based Woodbridge and Inoac in North America and South America will operate under the name Woodbridge Inoac Technical Products.
In the latest step in a business relationship that spans more than 30 years, the Woodbridge Group, an Ontario-based provider of urethane foam technologies, has formed a new equal joint venture with Inoac Corp. of Japan.
The technical foam facilities of Mississauga, Ont.-based Woodbridge and Inoac in North America and South America will operate under the name Woodbridge Inoac Technical Products. This includes facilities in Chattanooga, Tenn., Moonachie, N.J.; Springfield, Ky.; and Monterrey, Mexico.
The companies have also announced the expansion of their existing flexible foam and lamination joint venture in North America to include Olympic Products LLC. This facility in Greensboro, N.C. joins the existing operations in El Paso, Tex., and Saltillo, Mexico. The flexible foam joint venture dates back to 2007, when Woodbridge Group bought 50 per cent of Inoac’s molded urethane foam operation in Kyushu, Japan, while Inoac purchased 50 per cent of four Woodbridge slab foam and flame lamination facilities.
Founded in 1978, Woodbridge Group has 63 facilities operating in 21 countries.
Inoac was founded in 1926 in Nagoya, Japan as a manufacturer of tires and tubes for bicycles; it currently has over 100 facilities operating in 20 countries, supplying polyurethane technology, rubber, plastics and composite materials.