Spring Air Expanding Operations Into India

Licensee Plans 3 New Plants and 30 Retail Locations By 2010

TAMPA, Fla., June 19 /PRNewswire/ -- The Spring Air Company said today
that it would enter the $400 million retail bedding market in India through
its Middle East licensee. W.J. Towell & Co., in association with Ashok Sharma,
a well-known bedding professional and CEO of Spring Air Middle East, have
created a joint venture called Spring Air India that will result in the
company having three manufacturing facilities producing 500 pieces a day and
30 Spring Air branded retail showrooms in the country by 2010. The first plant
will open in September 2008 just outside New Delhi.
By end of 2009, Spring Air in India will also set up manufacturing
facilities in the western part of the country near Bombay and also in the
south near Bangalore. The retail showrooms will be going on line as
manufacturing capability is added.
The company said that at present, 7-percent of the retail bedding market
in India is innerspring product and was expected to reach 25-percent over the
next five years. While some international brands have entered the region, few
have captured any significant share of this market.
"This is very exciting news, both for our licensee and for our company as
it gives us a great footprint in one of the fastest growing consumer markets
in the world," said Spring Air CEO Bob Hellyer. "W.J. Towell has been a great
business with us and we look forward to sharing in the success of this new
venture with them."
Spring Air Middle East is a fully owned venture by W.J. Towell & Co., a
135-year-old leading business enterprise from Oman with sales of more than $1
billion.
Founded in 1926, The Spring Air Company is one of the world's largest
mattress manufacturing and distribution companies. Its well-known consumer
brands include: Back Supporter Classic, Back Supporter Four Seasons, Nature's
Rest and Chattam & Wells.
Contact: Stan Steinreich
Steinreich Communications
(201) 498-1600

SOURCE Spring Air Company

Stan Steinreich of Steinreich Communications, +1-201-498-1600, for Spring Air
Company