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FOAMEX
INTERNATIONAL ANNOUNCES TERMINATION OF DISCUSSIONS WITH POTENTIAL BUYER
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LINWOOD, PENNSYLVANIA, April
5, 2000 -- Foamex International Inc. (Nasdaq: FMXI), North America's
largest manufacturer of flexible polyurethane and advanced polymer foam
products, announced today that the company's discussions with a
potential buyer of all the company's outstanding common stock have been
terminated, with no agreement having been reached.
Marshall S. Cogan, Chairman,
said, "The Board of Directors, with the assistance of its financial
advisors, will continue to evaluate strategic alternatives in the best
interest of all Foamex shareholders."
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 manufacturers 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. |