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Breaking Flooring News

Foamex to acquire General Foam assets

July 9, 2001
LINWOOD, Pa. -- Foamex International Inc. reported that it had signed an agreement to acquire certain assets of General Foam Corp. (GFC), a manufacturer of polyurethane foam products for the automotive, industrial and home furnishings markets. GFC had revenues of nearly $100 million last year.

"Foamex has grown historically through acquisition," noted Foamex Chairman Marshall C. Cogan. "Strategic acquisitions that have significant synergies with our existing businesses continue to be an important component of our growth."

"The GFC transaction is consistent with our acquisition strategy,” said John Televantos, Foamex president and CEO. “General Foam is a quality manufacturer with a strong reputation for customer service and a commitment to technology. This acquisition strengthens our automotive, technical products and foam products businesses and expands our product and service offerings to our customers."

The transaction, which is subject to approval by Foamex's lenders and certain other conditions, is expected to close by the end of July.

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