Elk takes FR savvy into bedding arena
By David Perry -- Furniture Today, January 25, 2004
DALLAS — ElkCorp., which has sold safety in roofing materials for decades, is now moving inside the home to provide fire-resistant materials for mattresses.
It's a logical extension for the $600 million, publicly traded company based here, which introduced fiberglass-based asphalt shingles in 1979 and today offers a wide array of roofing products that meet the highest fire ratings.
In fact, Elk has taken a fiberglass-based technology originally developed for shingles and related products and used that as the basis for its first-generation mattress FR products.
Elk spent three years and almost $4 million developing its VersaShield fire-barrier technology for the mattress industry. And it became the first FR supplier to commercialize its product when Carolina Mattress Guild, a regional bedding maker based in Thomas-ville, N.C., introduced VersaShield in its Safe Dreams line of FR bedding in April 2003.
Elk remains the only FR producer publicly to announce a bedding producer customer. Like other major FR suppliers, Elk is talking to a number of leading bedding producers about its products, but has made no announcements of major placements.
The company began looking into opportunities to sell its fire-barrier technology to the bedding industry in the mid-'90s, years before California spurred FR efforts by passing legislation that will implement stringent new open-flame mattress standards in California as of Jan. 1, 2005. Elk originally eyed commercial applications in the bedding industry, but now is addressing the soon-to-escalate demand for FR mattress products in the residential market.
The VersaShield mattress fire barrier is "a superior new technology" to prevent loss of life and property in fires, Elk said.
"We have a solution that is robust and cost competitive," said Thomas Karol, ElkCorp.'s chairman and chief executive officer, in an interview with Furniture/Today at ElkCorp.'s corporate headquarters here, located in a cluster of high-rise office buildings.
Karol said VersaShield "works better" than competing FR products and performs extremely well in a variety of burn tests. Elk is so confident of VersaShield's performance that it has taken the unusual step of releasing several of its test results (see accompanying story).
Elk's goal is to be the "supplier of choice" for the bedding industry, and later for the bed clothing and upholstered furniture categories when they implement new FR standards.
Karol said Elk is well positioned to become a major player in the FR mattress category.
"We are one of the larger companies pursuing this endeavor," he said. "We have very good capital resources. We believe we have a robust and cost-effective solution for a number of applications. We will pursue it aggressively."
Mike Kiik, senior vice president of research and development, said, "We will spend whatever is necessary to establish this as a core technology for us. We intend to be a presence in this field."
Elk officials have identified VersaShield as one of the key technologies the company will be pushing.
They believe there is increasing consumer awareness of the dangers posed by fire. Karol cited the Rhode Island nightclub fire that killed 100 in February 2002, and led The Providence Journal to produce a tough series of stories under the "fatal foam" banner.
"Soon, the average consumer will need to know that the mattresses in their home are as safe as possible in the event of a fire," said Frank Kelly, director of sales, who is heading sales and marketing to mattress producers. "We want to help manufacturers meet that need."
"There is so much fuel in our lives," Karol said. "Consumers don't want to be unwittingly exposed to explosive hazards." He also said that consumers "are open to the message" of improved safety in the products they use.
"Smart companies today will make sure their products are safe," Karol said.
ElkCorp., through its subsidiaries, manufactures Elk brand premium roofing and building products, which account for more than 92% of its consolidated sales. It also provides technologically advanced products and services to other industries.
The company's common stock is listed on the New York Stock Exchange under the ticker symbol of ELK.
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Elk takes FR savvy into bedding arena
Jan 29, 2004
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