MISSISSAUGA, Ontario (Nov. 20, 2007) — INOAC Corp. and Woodbridge Group said they will partner on two joint ventures involving polyurethanes, one in North America and the other in Japan.
Woodbridge will purchase 50 percent of INOAC's Kyushu, Japan, molded urethane foam operation. This acquisition completes a network of jointly owned facilities in Japan that serve the Japanese market.
In North America, INOAC will buy 50 percent of four Woodbridge slab foam and flame-lamination facilities that supply products to the automotive industry. The joint venture will encompass operations in Saltillo, Mexico, Del Rio, Texas, and two sites in El Paso, Texas.
The changes will take place on Dec. 31. The companies said they have a long-standing relationship.