Woodbridge Group inks JV with Sheela Foam

NEW DELHI: The world’s largest maker of polyurethane foam products, The Woodbridge Group is making a debut in India. The Ontario-based company is joining hands with Sheela Foam to set up a 50:50 JV — Sheela Woodbridge Urethanes.

The venture will pursue business opportunities for moulded polyurethane foam and foam-in-place products in the Indian market. When contacted, Sheela Woodbridge MD, Rahul Gautam, confirmed the development. “We shall set up the first installation with an initial investment of Rs 15 crore.

In the next three years time, we should have three such manufacturing facilities,” he told ET. Sheela-Woodbridge plans to invest close to Rs 50 crore in three years time and subsequently expand into roof liners for cars.