By Michael Lauzon, Plastics News Correspondent
Lafayette, Indiana -- A polyurethane foam moulder will invest $1 million in its core business now that it has sold a non-strategic business.
Perry Foam Products Inc. of Lafayette will invest in abrasion technology in which the company moulds backer pads for sanding implements.
"Following a rigorous strategic planning process, it became evident that our true strengths lie in the backer pad business for sanding," stated Perry president and chief executive officer Scott Kempin in a news release. The investment will add new technology and improve Perry's capacity for growth, he added.
Perry is selling its flexible foam business, which produces large components, to Great Lakes Foam Technologies Inc. of Concord, Michigan. The business includes components for athletic equipment, automotive, medical, packaging, tools and other markets. The products complement Great Lakes Foam's line-up that includes military vehicle padding, equipment armrests and medical padding.
Perry employs about 95. Acquiring Perry's large part business will add 15 to 20 jobs to Great Lakes Foam, according to local news reports. Officials were not available to comment on reports that Great Lakes Foam might eventually relocate to Indiana after it moves a production line in the short term from Perry to its plant in Michigan.
Great Lakes Foam now employs about 25.