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Article: Foamex revives with new owners, name.(News)
- Article from:
- Rubber & Plastics News
- Article date:
- June 29, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mike McNulty
A now financially solvent Foamex International Inc. has emerged from bankruptcy as a privately held company with new owners and a new name, FXI-Foamex Innovations.
MatlinPatterson Global Opportunities Partners III L.P. and Black Diamond Capital Management L.L.C. completed the purchase of the large polyurethane foam products maker June 12, allowing the company to emerge from Chapter 11 protection, and renamed the business three days later.
The same management team, headed by President and CEO Jack Johnson, that had been in place when the firm entered bankruptcy proceedings in late February will stay at the helm of FXI. The ...