TROY, Mich., January 6, 2021 – Woodbridge today announced the company has signed an agreement to divest its equity interest in the Yanfeng Woodbridge Lightweight Composites Co. Ltd. joint venture to Yanfeng Automotive Trim Systems Co., Ltd.
Yanfeng Woodbridge Lightweight Composites Co. Ltd. was formed in 2018, with a single manufacturing facility in Jintan District, Changzhou, Jiangsu, China. The site produces expanded polypropylene for the automotive industry.
Completion of the divestiture is subject to government approval and is expected to be finalized by the end of first quarter 2021. Woodbridge will work closely with Yanfeng to ensure a smooth transition for all stakeholders.
Woodbridge maintains a strong manufacturing presence in China and around the globe and will continue to provide industry leading foam solutions to its more than 600 customers worldwide.
About Woodbridge
Woodbridge is a privately-owned company offering innovative material technologies for applications in automotive, commercial, recreational, packaging, healthcare and building products. In addition to its manufacturing operations, Woodbridge offers a full complement of services including: chemical research and development, product and process engineering, tooling, technical support and accredited laboratory testing. Woodbridge operates more than 50 facilities across 10 countries—employing over 7,500 teammates and serving more than 600 customers worldwide. To learn more, visit woodbridgegroup.com.
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