ERJ staff report (DS)
Long Branch, new Jersey -- The final phase of Monmouth Rubber & Plastics Corp.'s succession plan was completed January 1 with John Bonforte Jr.'s assumption of the roles of president and COO of the sponge rubber and plastic foam manufacturer. He takes over from company founder John Bonforte Sr.
Previously Monmouth's sales manager, Bonforte took over the company's day-to-day operations in early 2010.
The change of ownership coincides with Monmouth's increasing significantly its production capacity. "Monmouth already is a leader in the manufacturing of closed cell sponge rubber and plastic foam. The increased capacity will further solidify Monmouth's leadership position in the market," Bonforte said.
The company did not give details of existing capacity, or the expansion plans.
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Press release from Monmouth Rubber