Daily News
From Home Furnishing Business
Foamex Announces Reverse Stock Split
April 30,
2007 by in UnCategorized 
By Home Furnishings Business in Bedding on May 2007
Foamex International, Linwood, Pa., announced that a one-for-four reverse stock split will become effective today. In addition, the company has a new trading symbol, FMXL.
The reverse stock split will reduce the number of shares the company issued and outstanding common stock from approximately 93.3 million to 23.3 million. Its been a busy year for Foamex, starting with it completing a reorganization and emerging from Chapter 11 in February. In April, the company announced a $3 million capital investment in its Tupelo, Miss., factory. Also in April, Foamex said former CEO John Johnson Jr. had returned to the company to resume the role he relinquished in 2001.