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FOAMEX SENIOR SECURED NOTEHOLDERS
UNANIMOUSLY VOTE TO ACCEPT PLAN OF REORGANIZATION
LINWOOD, PA, January 9, 2007 –
Foamex International Inc. (FMXIQ.PK) today announced that the Senior Secured Noteholders voting on its Second Amended Plan of Reorganization (the “Plan”) have voted unanimously to accept the Plan. Equityholders have until January 18, 2007 at 4:00 p.m. ET to vote on the Plan.
Raymond E. Mabus, Jr., Chairman and Chief Executive Officer of Foamex, said: “We are pleased to have received the unanimous support of our Senior Secured Noteholders. The result is indicative of the Plan’s broad-based support among our stakeholders, and represents another significant step in Foamex’s chapter 11 process as we continue to build momentum toward emergence.”
A hearing before the United States Bankruptcy Court for the District of Delaware to consider confirmation of the Plan is scheduled for February 1, 2007.
Other information about the Company’s reorganization case is available on the Foamex’s web site at http://www.foamex.com/restructuring.
About Foamex International Inc.
Foamex, headquartered in Linwood, PA, is a leading
producer of comfort cushioning for bedding, furniture, carpet cushion and automotive
markets. The Company also manufactures high-performance polymers for diverse
applications in the industrial, aerospace, defense, electronics and computer
industries. For more information visit the Foamex web site
at
http://www.foamex.com.
Forward-Looking Statements
This press release contains, and oral statements made from time to time by representatives of the Company may contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are affected by risks, uncertainties and assumptions that the Company makes about, among other things, the outcome of proceedings in its chapter 11 case. While the Company believes that its assumptions regarding the foregoing matters are reasonable, any of the assumptions could be inaccurate, and therefore there can be no assurance that the Company's forward-looking statements will prove to be accurate. Readers should be aware that any forward-looking statement made in this press release or elsewhere by the Company speaks only as of the date on which it is made, and the Company disclaims any obligation or intent to update any of the factors listed above or forward-looking statements.
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