Foamex International Inc. (USA), a leading producer of polyurethane foam-based solutions and specialty comfort products, announced that the U.S. Bankruptcy Court for the District of Delaware has entered an order approving the sale of substantially all of Foamex's assets as a going concern to a group comprised of certain affiliates of MatlinPatterson Global Opportunities Partners III L.P. and Black Diamond Capital Management, L.L.C. Foamex anticipates that both the closing of the transaction and the Company's emergence from Chapter 11 will occur in June 2009.
"We are delighted with the outcome of this process," said Jack Johnson, Foamex President and Chief Executive Officer. "As we had hoped for at the outset of the filing, Foamex has emerged from the process expeditiously and with a stronger balance sheet." Foamex had filed for bankruptcy protection in February 2009 and was granted approval by bankruptcy court to borrow up to US$95 mln under their debtor-in-possession, or DIP financing provided by MatlinPatterson and Bank of America Corp. (BAC).
29-May-09 
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