Productivity Improves in First Quarter
Washington, DC, May 1--U.S. productivity improved in the first quarter, increasing at an annual rate of 1.6% as companies produced more while they kept work forces lean.
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.
Schools Find Carpet Hard to Keep Clean
Dalton, GA, May 7--Carpet and rugs are at the head of the class for commercial architects and designers but get low marks in schools, according to an article published in the Chattanooga Times/Free Press, which was based on results of a Carpet and Rug Ins
Armstrong Payouts To Be Smaller
Wilmington, DE, May 6--If you were expecting to get paid something out of Armstrong World Industries' bankruptcy reorganization, expect something less.
DuPont Forms Board of Directors for DuPont Textile
Wilmington, DE, May 1--DuPont has formed a board of directors for DuPont Textiles & Interiors (DTI), which began operating as a wholly owned subsidiary of DuPont in February. Effective May 1, the board will have full operating responsibility for DTI.
Kmart Emerges From Bankruptcy
Troy,MI, May 7--Kmart Corp. emerged from bankruptcy after more than 15 months of Chapter 11 protection. The retailer has 600 fewer stores and new leadership since filing for protection from its creditors in early 2002.
Tarkett Sommer AG Offers To Buy Domco Tarkett Outs
Farnham, Quebec, May 1-- Domco Tarkett’s board of directors has set up a special committee to consider an offer by Tarkett Sommer AG, the company’s major shareholder, to purchase all the outstanding shares of Domco Tarkett it does not already own.
Kmart Posts $483 Million Loss for March
Troy, MI, May 7--Kmart Corp. said it posted a $483 million loss for March, its third straight month of losses.
Springs Closes Purchase of Owen Blanket Business
Fort Mill, SC, May 6--Springs Industries, Inc. announced today it has completed its acquisition of Charles D. Owen Manufacturing Co., Inc. The purchase joins the leading supplier of consumer blankets with the leading supplier of home furnishings products.
ASID Names New Board
Washington, D.C., May 5--The American Society of Interior Designers (ASID) is pleased to announce the election results for the fiscal year 2004 board of directors.
S&P Cuts Interface Senior Unsecured Rating
New York,May 7--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit and senior unsecured debt ratings on Atlanta, Ga.-based carpet manufacturer Interface Inc. IFSIA.O to 'B' from 'B+'.