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FOAMEX
INTERNATIONAL ANNOUNCES EXTENSION OF EXCLUSIVE NEGOTIATING PERIOD WITH
PROSPECTIVE BUYER
____________________________
LINWOOD, PENNSYLVANIA, March
30, 2000 -- Foamex International Inc. (Nasdaq: FMXI), North
America's largest manufacturer of flexible polyurethane and advanced
polymer foam products, announced today that the Company has agreed to
extend until April 7, 2000, the previously announced exclusive
negotiating period with a potential buyer of all the Company's
outstanding common stock for cash. The previously announced exclusive
negotiating period expired today.
There can be no assurance that
the discussions will result in a transaction with the potential buyer,
or that any transaction involving the Company will occur.
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.
This press release contains
forward-looking information, and actual results may materially vary from
those expressed or implied herein. Factors that could affect these
results include those mentioned in the documents filed with the
Securities and Exchange Commission. |