Fort Wayne, Indiana - FXI-Foamex Innovations is reported to be installing $7 million of equipment at its Fort Wayne factory, as part of a four-year, $21-million investment in raising capacity, efficiency and preserving 180 jobs, company officials told Sherry Slater, of local newspaper The Journal Gazette
Slater reports that the plant is also competing with other FXI locations for $5 million capital spending to create 60 new jobs.
Major US polyurethane foam group FXI has already invested more than $15 million in the factory in the past three years and has budgeted $6 million more for 2011, bringing the total to $21 million, Slater adds.
According to the Journal Gazette report, FXI ceo Jack Johnson has the goal of making strategic investments that boost FXI's revenue to more than $1000 million a year. In 2009, at the depth of the recession, sales were about $625 million. This year, revenues have climbed to about $745 million, Johnson said.