MOONACHIE, N.J. (Feb. 2, 2010)—Inoac USA has acquired reticulated polyurethane foam maker Crest Foam Industries Inc., in which its parent firm owned a 20-percent interest.
has been acquired by Inoac USA, a manufacturer of.
Since 1997, Moonachie-based Crest Foam has been jointly owned by the United Kingdom-based Vita Group, holding an 80-percent share in the company, with Inoac Corp. of Japan owning the remaining interest. Inoac USA, which makes synthetic foam, rubber and plastics, completed the acquisition of the rest of Crest Foam's shares on Jan. 13.
Crest Foam will continue to operate as a stand-alone entity and will retain its current management team and staff, according to the companies.
Inoac has annual sales of around $2.5 billion and has been involved in PU technology and manufacturing for 60 years.