Oriental Weavers Plans New Industrial Complex
Cairo, Egypt, March 3, 2008--Oriental Weavers said it would build an industrial complex for more than $237 million to meet rising demand.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Solutia Credit Rating Gets Big Improvement
New York, NY, March 3, 2008--Solutia Inc., which emerged from bankruptcy Friday, got more good news from Standard & Poor's Ratings Services, which raised its corporate credit rating on the company to 'B+' from 'D'.
Buffet Says U.S. Economy Already in Recession
New York, NY, March 3, 2008--Investor Warren Buffett said that by all practical measures the U.S. economy is already in a recession.
Kingspan Income Rises 24%, But Lowers Expectations
Dublin, Ireland, March 3, 2008—Access flooring maker Kingspan Group Plc, said annual profit rose 24 percent due to demand in the U.K. and Europe.
Ratings Agency Upgrades Armstrong Outlook
New York, NY, March 3, 2008-- Standard & Poor's Ratings Service upgraded its outlook on Armstrong World Industries Inc. to stable from developing.
Armstrong Decides To Continue in Current Structure
Lancaster, PA, February 29, 2008--Armstrong World Industries Inc. said it will remain a public company and continue to operate under its current structure.
Consumer Sentiment Survey Says Recession Likely
Ann Arbor, MI, February 29, 2008--Consumer sentiment fell in February from January, according to a survey released Friday by Reuters/University of Michigan.
Solutia Emerges From Bankruptcy a Stronger Firm
St. Louis, MO, February 28, 2008 – After a long process, Solutia Inc. emerged from Chapter 11 bankruptcy reorganization on Thursday, "stronger, healthier and more competitive" than at any time in its history.
Consumer Spending Flat in January on Inflation
Washington, DC, February 29, 2008--Consumer spending was unchanged in January.
Solutia Earnings Down on Charges, But Sales Rise
St. Louis, MO, February 28, 2008-- Solutia Inc. reported Wednesday that its net loss more than tripled in the fourth quarter on special charges, although sales increased substantially.