Foamex reports softening financial results, stays the course on debt reduction
LINWOOD, Pa. -- Flexible polyurethane and polymer foam products manufacturer Foamex International Inc. reported that, despite slightly lower sales and profits for fiscal year 2000, the company remains on track with its debt-reduction initiatives.
“We generated solid results given the challenging economic environment during the second half of the year,” said Foamex president and CEO John Televantos. “Despite continuing cost and pricing pressures, we generated sufficient cash to stay on track with our debt reduction program.”