Simmons said today that the bankruptcy and reorganization plan has been approved by the court, which has further promoted its merger and acquisition process by AresManagement and Ontario Teachers' Pension Plan.
Simmons said it expects to complete the bankruptcy and handover matters around January 20.
The company said that the decision made by the US District Bankruptcy Court in Delaware represents Simmons has cleared the last obstacle since the reorganization plan was announced last May. Ares Management and the Ontario Group also acquired Shuda, a bedding manufacturer, at the same time.
The purchaser's officials expressed the hope that the merger of Simmons will be promoted as soon as possible.
"Since we first announced our intention to acquire the company in September last year, we have become more convinced of Simmons' prestigious brand, innovative products, strong and experienced management team, and the solid industry foundation we are looking for," Ares Management Senior partner Bennett Rosenthal said, "Throughout the entire process, through contact with the main holders and cooperation with the management team, we have been full of ambition for the company's future positioning and development."
Erol Uzumeri, senior vice president of Teachers' Private Capital, an affiliate of Ontario Teachers, said: "This process confirms to us that Simmons bedding is the company we have been looking for: its capabilities in management and strong franchise have been fully verified. Measured by our core investment standards, the company ’s historical performance is excellent, and with the formation of a new capital structure, we firmly believe that this investment will bring huge returns to us and other owners-now And it will be. "
Simmons Chairman Steve Fendrich said that the approval of the court further validated the feasibility of our plan, which will also open a better future for our company, employees, all suppliers and customers. "
31.5*15*4mm Herringbone Glass & Stone Mosaics
ceramics has developed many kinds of product with different art styles to meet different requirements of customers. Our product quality is in line with European quality standards. Our oversea clients are from more than 35 countries and regions such as Southeast Asia, the Middle East, America, the EU, and Africa.
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Glass Mosaic is the smallest tile in all kinds of floor and wall covering materials. It is tiny tile gluing on a paper or a net which makes it easy cutting and can fit into any surface including corner, column, curve wall, ceiling. And thanks for its glass nature, the glass mosaic can be used in any environment such as under water, outside building, under sunshine, along the seashore. Glass mosaic can be used at any place that you want it to so that give it the great business potential.
This mosaic tile features a uniformly glazed surface with a smooth texture and a glossy white color tone. It offers a versatile appearance that is unique yet simplistic enough to integrate into any design, ranging from traditional style renovations to modern home projects. Its impervious and frost-resistant features make this penny tile an ideal choice for indoor and outdoor floor and wall installations including, kitchen backsplashes, bathroom showers and accent walls. This penny round tile can be used as a whole sheet or cut into smaller strips as an accent piece. It is a perfect choice on its own or coordinated with other colors in our Hudson Penny Round series.
10.74 square feet, 10 pieces per case. Case weight is 18 lbs.
Grade 1, first-quality porcelain tile for floor and wall use
12 in. width x 12.63 in. length x 5 mm thick mesh-mounted mosaic. 0.8 in. W x 0.8 in. L penny round pieces
Glazed smooth finish with a high sheen and a uniform appearance in tone
P.E.I. Rating IV has high resistance to abrasion and is suitable for heavy-duty residential and commercial kitchens, hotels, exhibition and sales rooms with some dirt conditions
Impervious flooring has water absorption of less than 0.5% for indoor or outdoor use and is frost proof
C.O.F. greater than 0.50 is recommended for standard residential applications and is marginally skid resistant. Indoor use
Completely frost resistant for indoor or outdoor applications; use a latex-modified thinset for acceptable bond strength
Commercial and residential use
Don't forget your coordinating trim pieces, grout, backerboard, thinset and installation tools
All online orders for this item ship via parcel ground and may arrive in multiple boxes
Recommended you purchase a minimum of 10% overage to account for design cuts and patterns
Each line item within an order will be selected from a single dye lot (color) and caliber (size), but multiple orders can result in receiving multiple dye lots and/or calibers; please ensure that all tile for a project is obtained within 1 order
All ceramic / porcelain and natural stone tile within coordinating series may be produced at different times which can cause variation in dye lot (color) and caliber (size) which is authentic to tile
Before you begin an installation, familiarize yourself with cost factors. This Project Cost Guide can assist you in budgeting for your tile project.
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