Hey guys, found this foam at a factory where they use it to pack x-ray machines.. Its pink in colour, sort of like depron and sands beautifully,( i.e when sanded it turns into fine powder as opposed to thermo balls like thermocol does) and it does not have any coverings.. Currently trying to track down its source.. What is this stuff??

Its bluecore foam. You can find more info about foams here http://radiocontrol.wikia.com/wiki/Foam

Its in 1cm thick sheets..

It is styrofoam. See post 28 of http://www.rcindia.org/tools-materials-and-building-techniques/where-to-get-depronbiofoam-in-kolkata/25/. It sands really beautifully. Quite similar to biofoam. Same chemical composition.