Foamex renamed FXI
By Furniture Today Staff -- Furniture Today, June 22, 2009
Media, Pa. — Following its acquisition by MatlinPatterson Global Opportunities Partners and Black Diamond Capital Management, Foamex has relaunched its business under the new name of FXI — Foamex Innovations.
FXI is retaining all Foamex business lines and will continue to stress innovative foam applications for its customers, company officials said.
"As we introduce FXI, we are better positioned than ever as a more nimble company poised for future growth," said Jack Johnson, president and CEO. He said that as a privately held company, FXI will be "more agile and more responsive to our customers' needs. We are now operating with a very strong and stable financial position, which includes virtually no debt and a significant amount of cash."
He added, "We have a top-notch team of scientists, a significant number of patents to our credit and advanced labs that set the foam industry standard. We've established one of the most efficient manufacturing and distribution networks in our industry and have invented or perfected many of the technologies used in foam today. We have the expertise, technology and capacity to respond to our customers' needs and expand the applications of foam into new arenas."
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