MISSISSAUGA, Ontario—The Woodbridge Group and Inoac Corp. are building on a relationship of more than 30 years with an equal joint venture that took effect at the end of January.
The technical foam facilities of Woodbridge and Inoac in North America and South America will operate under the name Woodbridge Inoac Technical Products, said Jeremy Back, vice president of sales at Inoac. That includes facilities in Chattanooga, Tenn., which was previously a Woodbridge facility, along with prior Inoac sites in Moonachie, N.J.; Springfield, Ky.; and Monterrey, Mexico.
"We both have technical expertise in some of the same areas, as well as some unique areas that we'll be bringing together," Back said. "This is really bringing our two technical foaming divisions together, which were competing entities prior to this."
Inoac already has existing joint ventures for flame lamination and automotive grade foams. The new joint venture will allow WITP to deliver further innovations on the technical foaming markets, he said.
Discussion of the joint venture started last year, and due diligence efforts were completed in January, according to Back.
Integration of the two groups is going well so far, he said, and will continue into the coming months as the teams come together.