Wolfhausen, Switzerland-The FoamPartner Group, which combines the foam products activities of Conzzeta Holding, is entering into a joint venture with German foam manufacturer Otto Bock Schaumstoffe GmbH. Their goal is to open up the Chinese market, according to a 25 January 2005 announcement. The FoamPartner Group and Otto Bock were drawn together as joint venture partners by their complementary business activities in the area of flexible polyurethane (PU) foams, the statement says. Both companies produce foams for the automotive parts industry as well as for special industrial applications (e.g. filtration, acoustics and construction).The firms plan to build a production plant for PU foams in the Shanghai conurbation, with an investment of around Euro 15 million ($19.5 million). In the medium term, up to 100 new employees will be employed there, to make and market products for the Asian market.Through this cooperative venture, the two companies aim to open up the rapidly growing Chinese market. The FoamPartner Group develops, produces and processes special foams based on polyurethane and natural latex. Apart from its production and processing plants in Switzerland and Germany, FoamPartner has processing plants in France and the United States. FoamPartner is active in the business fields of Comfort, Healthcare, Industry, Packaging and Automotive. The FoamPartner Group has 450 employees and generates revenues of around SwFr135 million ($113 million).Otto Bock is a mid-size group of companies with its headquarters in Duderstadt, Germany. Under the corporate umbrella of Otto Bock Holding GmbH & Co. KG, the group is organized in three core business areas: HealthCare, Plastics/Foam and Information and Communication Technology. Through these businesses Otto Bock is active in important global growth markets. The company was established in Berlin in 1919. It is headed by President and CEO Hans Georg Näder, backed by a committed management team."