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Foam Rubber Products acquires Future Foam's Monticello facility

Monticello, IA, August 2, 2006 - Foam Rubber Products, LLC a leading polyurethane foam fabricator for the transportation seating, office furniture and home furniture markets, based in New Castle, IN has announced today that it will acquire the assets of Future Foam, Inc.'s Monticello foam fabrication facility located at 708 John Drive, Monticello, IA.

Foam Rubber Products continues to expand its foam fabrication business through internal growth as well as through acquisitions throughout the Midwestern United States. Foam Rubber Products plans to hire all thirty-six associates who are currently employed at the Monticello facility as well as hire an additional ten to twenty associates during the next several weeks. The expanded employment opportunities will be needed to support a substantial increase in business expected at the facility in the coming months. "Future Foam has had an excellent working relationship with the Monticello employees and its current customers, including Flexsteel, based in Dubuque, IA, and we look forward to working closely with Foam Rubber Products in the transition of the facility's employees and its customers," said Al Diamond, Vice President and General Manager for Future Foam. "Foam Rubber Products is a respected leader in the polyurethane foam fabrication industry and we are extremely excited that the Monticello plant will not only remain a part of the community for years to come but will expand as a result of Foam Rubber Products growth plans," said Diamond.

Foam Rubber Products will be serving several customers from the Monticello fabrication facility including the existing Flexsteel business as well as new opportunities that will be provided by The Hon Company based in Muscatine, IA. "We are very excited about Foam Rubber Products becoming a part of the Monticello community and feel we offer very attractive employment opportunities and growth given the customers and business that will be serviced from the Monticello facility," said Norm Smith, Foam Rubber's Chief Operating Officer. "Foam Rubber believes it is of utmost importance to be close to our customers and the Monticello facility allows us to do just that while retaining and expanding a very competent, loyal and capable workforce to help grow our business," said Smith.

About Foam Rubber Products

Foam Rubber Products is a leading polyurethane foam fabricator with its headquarters in New Castle, IN and fabrication plants in New Castle, IN, Seymour, IN and soon to be Monticello, IA. Foam Rubber Products began operations in 1948 specializing in the custom design and fabrication of flexible urethane foam products or the home furniture markets then on to the transportation seating and office furniture industries in its most recent history. The Company currently employs 150 associates among its two existing locations.

For more information on Foam Rubber Products or employment at the Monticello facility please contact Norm Smith at 765-521-2000 or visit www.foamseating.com.



 
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