Breaking News

Foamex International Terminates Sale of GFI Carpet Cushion Business

October 4, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
LINWOOD, Pa.--(BUSINESS WIRE)--Oct. 4, 2002--Foamex International Inc., the leading manufacturer of flexible polyurethane and advanced polymer foam products in North America, today announced that discussions with Leggett & Platt for the sale of Foamex's GFI carpet cushion business have been terminated.

On September 10, 2002 the Company announced that it had signed a letter of intent with Leggett & Platt under which Foamex was to sell GFI to Leggett & Platt. The two companies were unable to reach agreement on definitive terms for the transaction.

Marshall Cogan, Foamex's Chairman and Founder, said: "During the course of negotiations we came to the conclusion that the terms of the transaction were not in the best interest of Foamex's shareholders. We are committed to growing the profitability of our carpet cushion business and to providing customers with the high level of service and superior products they are accustomed to receiving from us."

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2013 Experience Convention & Trade Show

A look back in photos at the 2013 Experience Convention & Trade Show in Las Vegas.

THE MAGAZINE

ICS Cleaning Specialist Magazine

cover_image

2014 April

Take a look at the April 2014 issue with features on air movers, going green, carpet cleaning and new products & technologies.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo