Linwood, Pennsylvania -- Debt at leading polyurethane foam maker Foamex International Inc. is now down to about $417.6 million, after the previously announced $100-million share option to stockholders took effect, the company announced 22 July.
One highlight of Foamex's growth programme will be further expansion of the foamer's footprint in Asia, said Jack Johnson, president and chief executive officer, although he gave no further details.
Johnson also discussed establishing of retail sales for its new sleep accessories product lines, including memory foam pillows and mattress toppers, noting that the company has expanded its Auburn, Indiana, fabrication and packaging operations to handle this downstream big box market.
Foamex has also successfully launched several sustainable speciality foam products for home furnishings, Johnson added, in an announcement after the group's 2008 annual meeting of stockholders on 18 July.
Here it is using its patented VPF (variable pressure foaming) technology and proprietary formulations based on renewable, plant-based ingredients, he said.
The Foamex chief also outlined key product launches for the electronics, medical, and industrial markets: "All of these growth initiatives will enhance shareholder value," he said.
PIC: 'Reflex' chair made with Foamex's greener foam.