Crest Foam now 100 % Inoac owned

Crest Foam was jointly owned by the Vita Group, UK, (80 %) and Inoac Corporation, Japan, (20 %).

For many years Crest has been a small, but profitable operation within the Vita Group. With effect from 13 January 2010, Inoac USA Inc. has acquired 100 % shares of Crest Foam Industries. Inoac has been the minority shareholder since 1997 and is quite familiar with the operations, personnel and business of Crest Foam and, as such, the acquisition indicates a strong confidence in Crest’s business and growth prospects within the technical and speciality urethane foam business.

Inoac Corporation is a 60 year old, family-owned, diversified polymer chemistry company and a global technology leader in the fields of automotive, electrical/electronics, industrial and housing/construction industries among others with annual group sales exceeding USD 2.5 billion.

Inoac was among the first companies to introduce polyurethane technology and manufacturing in Asia in the 1950’s and is recognised as a leader in polyurethane technologies.

The new ownership will significantly broaden Crest’s product portfolio and create new opportunities to serve its customers’ needs globally, says the company. Crest will continue to operate as a stand-alone entity with the same management team and staff.

In addition, the company will benefit from Inoac’s investments in other related speciality foam businesses within the US and globally. In the US Inoac also has investments in technical foam operations at Rogers and Woodbridge.