Leggett & Platt buys Foamex’s carpet cushion business

LINWOOD, Pa. (April 29)–Foamex International Inc. has sold its rubber and felt carpet cushion businesses to furnishings manufacturer Leggett & Platt Inc. for about $38.5 million.

The sale includes a rubber cushion manufacturing plant in Cape Girardeau, Mo., and certain assets of the Newton, N.C., felt factory. Foamex, a manufacturer of flexible polyurethane and advanced polymer foam products, said it will use the proceeds of the sale to pay down debt.

Tom Chorman, president and CEO, called the businesses non-strategic and not part of its core urethane…

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