Forbo Reports Decline in First Half Earnings
Baar, Switzerland, Aug. 16, 2011 -- The Forbo Group reported first half net income from operations $66.1 million, a decrease of 11.1% versus the prior-year period.
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.
Buying Home Cheaper Than Renting in Most Cities
New York, NY, Aug. 16, 2011 -- Falling home prices combined with strong demand for rental property have made it cheaper to buy a two-bedroom home than to rent one in most major U.S. cities.
Housing Starts, Permits Decrease in July
Washington, DC, Aug. 16, 2011 --New home construction fell 1.5% in July while applications for building permits also fell 3.2%, according to the Commerce Department.
Factory Output, Industrial Production Rise in July
Washington, DC, Aug. 16, 2011 --Factory output increased 0.6% in July, the Federal Reserve reported today. That's the biggest increase since the March 11 earthquake in Japan.
Valinge To Unveil New Locking Technology
Viken, Sweden, Aug. 16, 2011 -- Valinge said it has developed new locking technology that "may improve the locking function and decrease the costs."
Oriental Weavers Second Quarter Profit Declines
Cairo, Egypt, Aug. 16, 2011 -- Egypt's Oriental Weavers posted a 4.4% decline in second-quarter net profit, as raw material costs offset strong sales.
Lowe's Net Income Down, Sales Miss Forecast
Mooresville, NC, Aug. 15, 2011 -- Home center Lowe's reported second quarter net income was $830 million, or $0.64 a share, compared with $832 million, or $0.58 a share, a year earlier.
Faus Group Signs Midwest Distributor Welch
Calhoun, GA, Aug. 15, 2011 —- Laminate maker Faus Group has signed distributor E.J. Welch Company, of Earth City, Missouri, to service territories in the Midwest.
Builder Sentiment Unchanged in August
Washington, DC, Aug. 15, 2011 -- Home builder confidence held unchanged at 15 in August, according to the National Association of Home Builders.
Manufacturing Contracts Again in New York Area
New York, NY, Aug. 15, 2011 -- Manufacturing in the New York region contracted for a third straight month in August, according to the Federal Reserve Bank of New York.