FOAMEX ANNOUNCES ADJOURNMENT
OF ANNUAL MEETING
__________________________________________________________
LINWOOD, PENNSYLVANIA,
June 28, 2001 - Foamex International Inc. (Nasdaq: FMXI), the
leading manufacturer of flexible polyurethane and advanced polymer foam
products in North America, announced today that Pricewaterhouse Coopers LLP,
its independent accountant, advised the company this evening that it
resigned, effective immediately. Since the ratification of
PricewaterhouseCoopers as Foamex’s independent accountant for the year
ending December 31, 2001 was to have been considered at the Annual Meeting
of Foamex’s Stockholders, to be held June 29 at 10:00 a.m., Foamex will
adjourn its Annual Meeting until July 27, 2001 in order to file with the
Securities and Exchange Commission information required by Form 8-K pursuant
to the Securities Exchange Act of 1934 and to distribute a proxy supplement
to stockholders.
Foamex has been informed by
PricewaterhouseCoopers that its resignation does not affect its report on
the Company's financial statements for the year 2000. The Audit Committee of
Foamex’s Board of Directors expects to select a new independent accounting
firm as soon as possible.
Foamex, headquartered in Linwood,
Pennsylvania, is the world’s 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, electronics and computer industries as well as
filtration and acoustical applications for the home. Revenues for 2000 were
$1.3 billion.
