Sheela Foam To Acquire Interplasp S.L., Spain
Sheela Foam Limited has informed that the board of directors of the company at its meeting approved to acquire Interplasp S.L., Spain.
Details of the Target
Interplasp S.L. is engaged in the manufacture and marketing of slabstock polyurethane foam for bedding, furniture and other applications in Spain and Portugal. Interplasp S.L. produces about 11,000 tons of Polyurethane foam annually and had a turnover of E31.6 million (Euro thirty one million six hundred thousand) in 2018
This acquisition would give Sheela Foam a presence in Europe, the world's largest polyurethane foam market, and a huge potential opportunity to grow. Interplasp S.L. markets some of its foam to Morocco, in North Africa, and has also a significant opportunity to grow in Morocco and in some other North African markets. Provides an opportunity to negotiate raw material prices for the consolidated quantity and also access to raw material prices across three global regions of India, Australia and Europe. Benefit from cross fertilization of technologies and product portfolios in all three geographies.