Foamex sells rubber & felt carpet cushion biz to Leggett & Platt for $38.5 mil
In a move to spin off "a relatively small component of our overall portfolio," Foamex International said it has sold its rubber and felt carpet cushion businesses to Leggett & Platt for $38.5 million. The deal includes the Cape Girardeau, Missouri rubber manufacturing facility and certain assets of the Newton, North Carolina felt manufacturing facility. Foamex said it will use the proceeds to pay down debt.