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FoaMasters
International Limited is a leading manufacturer and producer of
polyurethane flexible foam and related finished products within the Asia Pacific
region. FoaMasters produces a wide range of high quality flexible
polyurethane foams for use in a variety of industries including bedding,
footwear and furniture. Products are principally exported to branded
retailers in the USA,
Canada
and Europe including Wal-Mart, Nike,
Littlewoods and Toys R US, and are increasingly sold into the Chinese
domestic market.
Established in 1964, FoaMasters currently operates six factories in China and
a further two in Vietnam,
employing over 1900 personnel, with two more new factories operational by
year end.
The company will have a market capitalisation of approximately US$64
million on admission, with shares beginning trading at 37.5p.
Commenting on the admission to AIM, Jack Cheong, CEO said:
“We are delighted to be admitted to AIM and look forward to building
our profile over the coming years. We have a robust, fast growing
business, which is capitalising on the demand for specialist foam
products and we anticipate significant growth in both revenues and
profits of the company in the short to medium term.”
Broker and Nomad: Hanson Westhouse
Financial PR: Buchanan Communications
Legal advisors: Stephenson Harwood
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