Molded Rebond Foam Manufacturer

Triad-Fabco Acquired By Hickory Springs

HIGH POINT, N.C. (Sept. 17, 2007) — Hickory Springs Manufacturing Company, one of the nation's largest integrated manufacturers and an international supplier of components for the furniture and bedding industries, has announced the acquisition of Triad-Fabco. The High Point, NC-based manufacturer of molded rebond foam cushioning materials for the school bus, golf cart and furniture industries was founded in 1966 by Robert Ward.

In preparing for the retirement of Triad-Fabco Chairman of the Board Gary Sherrill and President Joe Hart, Company officers began searching last year for a buyer with similar people-oriented management and compatible business philosophies.

Triad-Fabco found a perfect partner in Hickory Springs, one of the nation's largest producers of foam for the furniture, bedding and other industries. The company, which operates production facilities in 14 states and China, is dedicated to the production and fabrication of foam and metal components. Recent Hickory Springs innovations include the introduction of Preserve foam, the world's first bio-based flexible polyurethane foam product.

“This acquisition by Hickory Springs is win-win for both companies,” explained Don Coleman, President of Hickory Springs Manufacturing Company. “It gives Hickory Springs the opportunity to diversify into a new marketplace, while providing Triad-Fabco with the resources and growth potential of a national and international manufacturer. By combining our respective experience and know-how, we will enhance the depth of both companies' products and the service we offer our customers. We look forward to a long and prosperous future with Triad-Fabco.”

Sherrill and Hart are also enthusiastic about the newest chapter in his company's history. “Hickory Springs' foam expertise makes it the ideal match for Triad-Fabco and its customers,” they said in a joint statement. “It is extremely gratifying to know that the business will continue to grow and thrive as part of the Hickory Springs family of companies. We wouldn't have made this move unless we were sure it was the right choice for Triad-Fabco, our employees and our customers. We couldn't leave them in more capable hands.” The business will continue to operate, doing business as Triad-Fabco Industries, a division of Hickory Spring Manufacturing Company.

Triad-Fabco will continue to operate in its three facilities in High Point, NC. Don Leonard, Vice President of Operations at Triad-Fabco will remain in the same position. He will report to Linda Simmons Mansfield, Hickory Springs' Vice President-Central Region.

Hickory Springs' corporate headquarters is located in Hickory, North Carolina. The international, privately held company was founded in 1944 as a producer of furniture springs. Over the past 63 years, Hickory Springs has grown into one of the nation's largest integrated manufacturers supplying the furniture and bedding industries from more than 60 operating facilities throughout the United States. In addition to its core furniture and bedding markets, Hickory Springs serves a growing range of customers in the construction, automotive, packaging, medical, marine and telecommunications industries.