Foamex to streamline operation, trim plants and staff

LINWOOD, Pa. (Jan. 8)—Foamex International Inc. is consolidating its manufacturing operation—closing eight manufacturing facilities and cutting its work force of 6,000 by about 10 percent—as part of a profit enhancement program. It expects to save about $20 million in 2002 and $30 million in 2003 under the long-term streamlining program. Under the project, the company will achieve its consolidation goals primarily by converting manufacturing to Foamex's proprietary Variable Pressure Foaming technology. The company did not specify the locations of the eight plants to be closed. Foamex will have 56 facilities operating after the cuts, but capacity won't be affected because of the switch to VPF technology, a spokeswoman said.