LINWOOD, PA. - Foamex International Inc. has created a division focusing exclusively on expanding the firm's presence in Asia. With its headquarters in Kuala Lumpur, Malaysia, the division - Foamex Asia - will serve China, Indonesia, Malaysia, the Philippines, Singapore and Thailand.
Foamex Asia's headquarters is scheduled to come on stream Jan. 1, with a polyurethane foam manufacturing site to open sometime next year, according to Marshall S. Cogan, chairman and chief executive officer of Foamex International.
Cogan declined to reveal the cost of the project, but said it is less than $10 million.
The company expects the manufacturing facility to employ 250-300, Cogan said. Other details concerning the construction of the unit have not been determined.
Cogan said the firm estimates Foamex Asia will reach $100 million in sales in three years, making up 10 percent of the company's annual sales.
Stephen P. Scibelli will serve as the division's president.
Before joining Foamex Asia, Scibelli served as CEO of Wilkshire Technologies Inc., a Carlsbad, Calif.-based producer of engineered polymer products for medical, clean room and transdermal drug use.
The main thrust behind the company's decision to expand to the Asia-Pacific Rim stems from the enormous increase in product demand, Cogan said.
In other international initiatives, Foamex in June forged a partnership with Belgium-based Recticel SA to design, manufacture and market PU products for automakers.
Linwood-based Foamex operates 43 facilities in North America and posts annual sales of $13 billion.
Besides its newly formed Asia division, the company has a division based in Mexico City.