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.

OWA Names D’huyvetter’s Successor

Dalton, GA, Jan. 24--Oriental Weavers of America has named Steve Stultz to fill the position held by Paul D’huyvetter, who passed away November 15.

Cargill Dow Develops Synthetic Fiber From Corn

New York, NY, Jan. 22—Ingeo, a new fiber brand concept from Cargill Dow, is based on technology that allows manmade fibers to be derived from renewable resources. Ingeo, pronounced "in-gee-o," is a brand whose name literally means "ingredients from the ea

Kmart Files Reorganization

Troy, MI, Jan. 27--Kmart Corp. has filed its reorganization plan in federal bankruptcy court, saying its turnaround will be bankrolled primarily by two investors. The five year plan calls for a return to profitability in fiscal 2004 and focuses on Kmart b

Sales and Profits Up For Weyerhaeuser

Seattle, WA, Jan. 23--Weyerhaeuser Co. had fourth quarter profits of $126 million, or 57 cents a share, compared to a loss of $15 million or 7 cents a share, for the same period a year ago.

Kmart Working On Reorganization

Troy, MI, Jan. 24--Kmart is negotiating 24 hours a day with its creditors over the company's plan of reorganization, but intends to file the plan Friday regardless of whether the parties come to an agreement on every point.

Home Depot Looks To Reposition Expo

Atlanta, GA, Jan. 22--Expo Design Center, the Home Depot division aimed at high end remodeling projects for higher income customers, is looking to broaden its customer base as a way to increase sales, according to the Atlanta Journal Constitution.

3M Reports On Quarter and Year

St. Paul, MN, Jan. 21--3M posted fourth quarter net income of $511 million, or $1.29 per share, versus $381 million, or $0.96 per share, in the fourth quarter a year ago. Excluding non-recurring items in the fourth quarter of 2001, net income increased 31

Housing Starts Most Since 86

Washington, DC, Jan. 21--Construction of new homes and apartments rose by 5% in December to cap the best year for housing construction since 1986, according to the Commerce Department.

Kmart Dismisses Loan Recipients

Troy, MI, Jan. 20--Kmart Corp. has fired the five remaining executives who received millions in retention loans just months before the retailer filed for bankruptcy protection and demanded that all 25 recipients repay the $28 million.

Forbo Simplifies Corporate Structure

Eglisau, Switzerland, Jan. 17--Forbo will consolidate its two separate business units, linoleum and vinyl, into one business. Consequently, the flooring business will operate in all markets worldwide under the designation and logo of Forbo Flooring.