Foam supplier FXI takes shape
New owners of Foamex launch Foamex Innovations
-- Casual Living, 6/18/2009 1:50:00 PM
The new owners of Foamex have announced the creation of FXI - Foamex Innovations, a now privately held company.
Foamex International was acquired out of bankruptcy on June 12 by MatlinPatterson Global Opportunities Partners III and Black Diamond Capital Management.
FXI will continue to supply its current account base – which includes home furnishings as well as office equipment, automotive and aerospace products. In addition, the Media, Pa.-based company will aggressively pursue business opportunities based on its stable financial position and the business expertise of its new owners.
“The hallmark of our organization has always been our ability to look ahead, envision opportunity and imagine the solution that gets us there,” said Jack Johnson, president and CEO of FXI. “As we introduce FXI, we are better positioned than ever as a more nimble company poised for future growth.”
The range and depth of products and services to customers will continue, Johnson said. “In fact, our new structure will enable us to better capitalize on the strengths of our people, the technological advantages we bring to the market, and the delivery of our products even more efficiently,” Johnson said. “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.”
For more information, visit www.fxi.com
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