Uratex Philippines teamed up with gloves manufacturer Maxiflex Philippine Corp. in investing P560.4 million in a new mattress manufacturing facility in Plaridel, Bulacan.
The Board of Investments said Thursday it approved the application for tax incentives filed by Maxiflex for the project under the 2022 Strategic Investment Priority Plan of the Corporate Recovery and Tax Incentives for Enterprises Act.
“This will provide a boost to the international footprint of our locally-produced mattresses since a great majority of Uratex’s production will cater to foreign markets, leveling up our exports of high-value and high-quality products,” said Trade undersecretary and BOI managing head Ceferino Rodolfo.
“Uratex has long been known in the Philippines as it is the leading manufacturer of mattresses. The exports of its Maxiflex product around the globe will provide greater traction and awareness for Uratex as a world-class brand,” said Rodolfo.
The BOI said the facility would start operations in October this year, with an annual capacity of 680,000 pieces of all-foam and spring mattresses. Export sales are expected to reach over P2.1 billion annually.
The BOI said Uratex aimed to export around 79 percent of its production to the United States, New Zealand, Papua New Guinea and other ASEAN countries.
The new facility will combine different foam and spring materials to create innovative products for the comfort of consumers. It is equipped with bedding and mattress testing machineries capable of performing durability tests to ensure that the product is compliant with global industry standards.
Uratex will employ the so-called volume reduction packing method—a process that will compress and roll pack foam and spring mattresses to optimize space.
This is considered a technological breakthrough in the global mattress industry, providing greater opportunity to bring high-quality mattresses to all the islands in the archipelago at more efficient logistics and distribution costs.
The Uratex brand has been able to hold its own in the Philippines, maintaining its dominance despite the entry of global brands Tempur, Serta, Ikea and Emma mattresses.
Other local manufacturers include Salem, Philibed and Mandaue Foam.