Bristol, Indiana - Seat foam maker Molded Foam llc, said 20 May that it will buy a firm in Holland, Michigan firm and relocate its operations to Indiana, creating up to 45 new jobs by 2014.
Molded Foam, which provides polyurethane foam cushioning to customers in the defence, medical, office-furniture and transport industries, among others, plans to invest more than $3.8 million to purchase and equip additional space to house the new operations which will include a new production line for moulded foam
The company plans to begin hiring additional manufacturing and supervisory staff early this summer as the new production line becomes operational.
"We have been fortunate to improve our position in the market during challenging economic times and believe additional investment at this time will further advance our business for many years to come. It was our preference to bring our new production facility to Bristol if it made economic sense and with the help of the state and the Economic Development Corporation of Elkhart County we will be able to do so," said Tim Dugle, president of Molded Foam.
"It is our objective to grow our business, to remain viable and to continue to provide additional jobs for people in our immediate area. We appreciate the efforts of Governor Daniels to make Indiana a business friendly state. Everybody wins when Indiana's government supports the private sector to strengthen communities."
Formerly Goshen Cushion Inc.'s recreational vehicle and conversion van seating division, Molded Foam has been independently owned for more than 15 years. The company has more than 30 years of manufacturing experience in Elkhart County.
The local development corporation offered Molded Foam up to $300 000 in performance-based tax credits based on the company's job creation plans, and also asked the town of Bristol to offer the company additional property tax phase-ins.