Shelton Legislators Applaud $2.5 Million Loan to Latex International

June 4, 2012

Hartford – State Senator Kevin C. Kelly (R-21) and State Representatives Jason Perillo (R-113) and Larry Miller (R-122) applauded the approval of a $2.5 million loan to Latex International to assist with the financing of inventory and working capital to expand its capabilities and workforce in Shelton on Monday, June 4th.

“Times are still tough, and families need jobs,” said Senator Kevin Kelly. “This loan package will assist Latex International to grow right here in Shelton and enable it to keep and create additional jobs to put families back to work in our community.”

The approval came today during a meeting of the State Bond Commission. This $2.5 million loan will be provided at an interest rate of 2% for five years. In return, the company will retain 150 jobs and create up to 30 new jobs by 2015.

“Creating jobs in Shelton is absolutely essential in this fragile economy,” said Representative Jason Perillo. “Latex wants to expand its operation and I am thrilled that we were able to deliver the financial resources they need to make that happen.”

The Latex International Corporate Headquarters is located at 510 River Road in Shelton. Their Northeast division is also located in Shelton at 12 Commerce Drive.

“Shelton needs to keep companies like Latex International in the community, they not only provide jobs for our residents but these same people buy from our shops and dine from our restaurants,” said Representative Lawrence Miller. “There is a trickle down effect for our economy by creating additional jobs.”

Latex International is the largest Talalay latex mattress and pillow producer in the world. Their mission is to be a global leader in providing innovative products that change peoples’ lives through enhanced sleep. For more information, please visit the Latex International website at www.latexfoam.com.