HESSENRING, Germany (July 8, 2008) – Proseat GmbH and Co. K.G. has signed a deal to take over all shares of Spanish foam manufacturer Indepol S.A.
Proseat acquired a 25 percent interest in Indepol in 2005. The new agreement will give the company complete control of the business, which has annual sales of about $100 million and employs 400.
Indepol's financial results have been fully incorporated into those of Proseat, an automotive seat joint venture between N.V. Recticel S.A. and Woodbridge Foam Corp.