[Gen-AI Analysis] Woodbridge Foam Corporation Business Report up until FY ended Dec. 2011 - MarkLines Automotive Information & Gen-AI Platform

Woodbridge Foam Corporation Business Report up until FY ended Dec. 2011

Business Highlights

Joint Ventures

-In 2011, the Company and the Summa Group announced the expansion of their partnership, with the establishment of a joint venture in Leon, Mexico. DuraLite Formed Plastics will be built adjacent to the existing joint venture plant and will offer molded expanded polypropylene (EPP) and expanded polystyrene (EPS) capabilities. Production at the new Leon, Mexico plant is scheduled to begin in early 2012. Automotive products manufactured at this facility will include StructureLite seating frames, WhisperTech NVH acoustical management components and EnerFlex crash force management components. (From a press release on August 5, 2011)

-In 2011, the Company and Wuxi Jixing Auto Parts Co., Ltd. announced that they have agreed to form a joint venture in China. The new company, Wuxi Woodbridge Jixing Advanced Polymer Technology Co, Ltd., will produce semi-rigid slab foams and laminated boards, for headliners, such as StrataLiner NET, and NVH applications. (From a press release on July 15, 2011)

Restructuring

-In 2011, Johnson Controls Inc. acquired an additional 35 percent equity share in JP Foam Manufacturing, a supplier of automotive foam seat cushions, from Proseat of Germany, making JP Foam Manufacturing its wholly owned subsidiary. Proseat is a joint venture company between Recticel S.A. and the Company. JP Foam Manufacturing operates two manufacturing facilities, one in Zory, Poland and one in Lucenec, Slovakia. The main customers include Ford, Fiat, Mercedes-Benz and Kia in Eastern Europe. (From a press release on December 7, 2011)

Plant Closure

-In January 2011, Proseat GmbH + Co. KG of Germany, a joint venture of the Company and Recticel S.A., announced its intention to close the plant in Hulshout, Belgium due to poor financial results in 2010. The plant manufactured foam cushions, supplying them to the two auto manufacturers in the region, GM in Antwerp and Ford in Genk. However, the former had closed its doors and the latter switched suppliers to Lear Corporation for its entire production of car seats, including the production of foam cushions. (From a press release on January 14, 2011)

Contract

-In January 2010, the Company's WhisperTech sound management foam components, which are utilized to help deliver a more targeted vehicle sound profile, were in several vehicles on display at the North American International Auto Show (NAIAS). (From a press release on January 19, 2010)

R&D

Technological Alliance

-By 2011, the Company had technological alliances with three companies;

Hyundai Motor Company, Korea
MOBICA , Egypt
Toscana Gomma Spa, Italy

Technology Licensing-out Agreement

-In November 2010, the Company agreed to license integral skin technology from Toscana Gomma S.p.A., an Italy-based manufacturer of polyurethane foam. Using Toscana Gomma's technology, the Company will produce products such as automotive grip handles, head restraints, arm rests, and steering wheels under the trade name DecoSkin. (From a press release on November 29, 2010)