Foamex to secure amended credit agreements with Buckfire & Co
12 Jul '05
2 min read
The previously disclosed amendment to our credit agreement modifies the fixed charge coverage calculation to adjust for the impact on operating income of the previously announced sale of the rubber and felt carpet cushion businesses and certain factors that have impacted the Company's operating performance in the second quarter of 2005, including a potentially material claim asserted by one of its customers, which is currently in negotiations.
In addition, the amendment permits the Company to use a portion of the proceeds from the sale of its rubber and felt carpet cushion businesses for working capital and general corporate purposes.
Foamex is the world's leading producer of comfort cushioning for bedding, furniture, carpet cushion and automotive markets. The Company also manufactures high-performance polymers for diverse applications in the industrial, aerospace, defense, electronics and computer industries.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
