Indo Count Industries announced another strategic move to broaden its Utility Bedding segment.
Indo Count Global, Inc. (ICG), a 100% U.S. based subsidiary of Indo Count Industries has acquired Modern Home Textiles, Inc., manufacturer of wide range of pillows and other filled products (Utility Bedding) having its facility located at Phoenix, Arizona with an annual capacity to produce 8 mn. pillows.
ICG also acquired last month majority stake in Fluvitex USA, Inc., a pillow and quilt manufacturing company based in Columbus, Ohio which has the capacity to produce 5 mn. pillows and 1.5 mn. quilts. This back-to-back acquisition is a stepping stone to establish an integrated utility bedding business for the North American Market.
These acquisitions have different locations one in Midwest and the other one on the West Coast thus providing an efficient distribution base to both existing and prospective customers.
With these two acquisitions, the total manufacturing capacity in USA will be 13 mn. Pillows and an additional capacity of 1.5 mn. Quilts annually. At full capacity, the total expected revenue is USD 85 mn. plus. The Customer base in both Fluvitex and Modern Home Textile are not overlapping, thus providing a strong projected growth. These investments by Indo Count Global, USA are part of a larger plan to build significant capacities in pillow manufacturing to service the utility bedding customers in North America.
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