Lafayette, Ind. A polyurethane foam molder will invest $1 million in its core business now that it has sold a nonstrategic unit.
Perry Foam Products Inc. of Lafayette will invest in abrasion technology. The firm molds backer pads for sanding tools.
``Following a rigorous strategic planning process, it became evident that our true strengths lie in the backer-pad business for sanding,'' Perry President and Chief Executive Officer Scott Kempin said in a news release. The investment will add new technology and improve Perry's capacity for growth, he added.
The company is selling its large-part, flexible foam business to Great Lakes Foam Technologies Inc. of Concord, Mich. The business includes components for athletic equipment, automotive, medical, packaging and tools. The products complement Great Lakes' lineup, which includes military vehicle padding, equipment armrests and medical padding.
Perry employs about 95. Acquiring the large-part business will add 15-20 jobs to Great Lakes, local news reports said. Officials were not available to comment on reports that Great Lakes eventually might relocate to Indiana.
Great Lakes Foam now employs about 25.