GREINER
Foams business forms JV in South Africa
Greiner Foam International (GFI, Kremsmünster / Austria; www.greiner-gfi.com) has established a joint venture in the Republic of South Africa with local foam manufacturer Unifoam (Isithebe / South Africa; www.unifoam.co.za). Unifoam, originally Unimattress, currently employs 230 workers, and in 2012 had sales of around EUR 20m. In 2011, Unimattress sold around 6,000 t of foam and, with a market share of 20%, ranks third in the country.
GFI managing director, Manfred Marchgraber, said: “The foam market in South Africa has enormous growth potential. Our goal is to raise Unifoam to the number one spot in this market over the medium term.” Greiner said only one-third of the mattresses produced in South Africa is presently made out of foam and that demand is rising. It plans to consistently improve the overall image of the products in the country and exploit the potential for high-grade foam mattresses. The JV also plans to break into additional segments, such as the automotive market, and expand into neighbouring countries.
GFI managing director, Manfred Marchgraber, said: “The foam market in South Africa has enormous growth potential. Our goal is to raise Unifoam to the number one spot in this market over the medium term.” Greiner said only one-third of the mattresses produced in South Africa is presently made out of foam and that demand is rising. It plans to consistently improve the overall image of the products in the country and exploit the potential for high-grade foam mattresses. The JV also plans to break into additional segments, such as the automotive market, and expand into neighbouring countries.
27.02.2013 Plasteurope.com [224675-0]
Published on 27.02.2013