Foamex, which emerged from bankruptcy in February 2007, has reduced its debt by $270 million over two years and is working "constructively" with Bank of America, the agent of its revolving credit facility, points out chairman and CEO Jack Johnson. "Importantly, these steps and our ongoing negotiations should have no effect on Foamex's day-to-day operations," he says in a press release.
Foamex has about 25 facilities in North America and China, according to its website. It is currently looking to sell its plant in Eddystone, PA, management said in its Q3 report.
In September, Foamex, moved its headquarters to Media from Linwood, PA. It now occupies 43,252 square feet at Rose Tree Corporate Center, which is owned by Mack-Cali Realty.
Foamex materials are mainly used in bedding and furniture.
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