Latex Foam Products Awarded $3 Million Loan By State Of Connecticut Bond Commission To Fund Rebuild

Furniture World Magazine

Latex Foam Products, North America's only manufacturer of latex mattress components and the world's largest manufacturer of Talalay latex pillows and cosmetic applicators, announced that the State of Connecticut Bond Commission approved a $3 million loan to assist in the building of the company's new latex foam production facility on 510 River Road in Shelton, Connecticut. The funding will be directly applied toward the purchase of new state-of-the-art production machinery in Shelton. The loan agreement stipulates that the company will employ over 253 Connecticut residents within four years. The hiring process has already begun, with 70 people from its former Ansonia facility rehired. That facility was destroyed by fire last May. The start up plan is to begin initial production of mattress cores, pillows and cosmetic applicators by mid May, with full production by this summer. With the support of the community, the government and the dedication of the company, the extensive rebuilding process took just one year. "We are extremely grateful to have received such tremendous support and assistance from the state of Connecticut, the community and our government representatives during our company's massive rebuild, " said Stephen Russo, President and CEO, Latex Foam Products. "The last year was inarguably a very challenging time for all of us, but with the assistance we've received from officials like Governor Rowland, State Representative Richard Belden, the Department of Economic and Community Development, and the people and governing principals of Ansonia and Shelton, we have quickly moved down the path to an expeditious return to production. The results of their support, combined with our employees' tireless efforts, have resulted in a far quicker return than many could have expected nearly one year ago. We are ready and eager to resume full production in Connecticut - and to participate in the revitalization of the Valley by being able to offer employment opportunities to the local workforce, " said Russo. About Latex Foam Products Founded over 25 years ago in Ansonia, CT, Latex Foam Products is North America's only manufacturer of latex foam pillows, mattresses and cosmetic applicators. The company, now based in Shelton, CT, is a worldwide industry leader, which develops products that are featured components in many key retail brands. For more information call 1-800-LATEX US or visit the company's Web site at www.latexfoam.com.