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| Proseat acquires Spanish foam manufacturer Proseat, the joint venture between the Belgian foam maker Recticel and the Canadian company Woodbridge, has signed an agreement for the takeover of all the shares of Indepol, a Spanish moulded foam manufacturer located near Barcelona. In January 2005, Proseat already acquired a 25% interest in Indepol. By purchasing the remaining 75% of the shares, Proseat has now increased its stake in Indepol from 25% to 100%. Indepol manufactures moulded foam seat components for the automotive industry (Seat, GM and Ford) and has an annual turnover of EUR 35 million and a workforce of 400. Through the earlier integration of Woodbridge's seat cushion activities in the United Kingdom (Manchester) in the Proseat joint venture (since 1 March 2007) and the full integration of Indepol of Spain now, Proseat further consolidates its leading position as independent moulded foam manufacturer in Europe and in particular within the Iberian peninsula. As of 1 July 2008, Indepol's results will be 100% incorporated in Proseat's figures. write your comments about the article :: © 2008 Construction News :: home page |