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FOAMEX
INTERNATIONAL INC. APPOINTS NEW BOARD MEMBER
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Televantos
Elected a Director and Named Chief Operating Officer
LINWOOD, PENNSYLVANIA, April
11, 2000 - Foamex International Inc. (Nasdaq: FMXI), the leading
manufacturer of flexible polyurethane and advanced polymer foam
products, announced today that John Televantos, 47, President of the
company's Foam Products Group, has been elected to the Board of
Directors and appointed Chief Operating Officer of the company.
"John's extensive experience in
the urethane industry and outstanding technological capabilities
strengthen that dimension of our board," said Chairman Marshall S.
Cogan. "In addition, his appointment is an affirmation of the strategic
and operational initiatives that have been established by Jack Johnson
and John over the past year."
Johnson, who is President and
CEO of Foamex as well as a member of the board, added, "I'm delighted to
have John join me on the Foamex board. He has led a number of important
operational initiatives, including the new VPFSM
expansion, and has been a strong partner in developing the strategic
plan to grow our company and increase value for shareholders."
Mr. Televantos is a chemical
industry executive with broad experience in the polyurethane industry.
Prior to joining Foamex, he was Vice President, Development Business for
Lyondell Chemical Company, which he joined in 1998 following the
company's acquisition of ARCO Chemical Company. In his nine-year career
with ARCO, Mr. Televantos was Director of Urethane Development and,
prior to that, Director of Strategic Planning and Commercial
Development. He began his career with Union Carbide Corporation in 1977,
serving in a number of urethane product development and research
positions. Mr. Televantos holds a BS and a PhD in Chemical Engineering
from the University of London.
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 1999 were $1.3 billion. |