Armstrong Announces a Series of Hardwood Actions
Lancaster, PA, March 15, 2006--Armstrong World Industries announced investments that will increase manufacturing capacity and broaden the product portfolio of its hardwood flooring business.
The investments are:
-- The acquisition of Capella Engineered Wood LLC, of of Vicksburg, MS. The company said this acquisition will increase Armstrong's U.S. manufacturing capacity and add another brand to the wood portfolio.
-- A manufacturing joint venture in China - this investment will also increase manufacturing capacity for engineered wood.
-- The acquisition of HomerWood of Titusville, PA. The company said this investment will expand Armstrong's premium solid wood product offerings to include rapidly growing wide width and hand-scraped products.
"These transactions are part of our program to grow Armstrong's flooring business in North America. The investments will reduce our product cost, increase our manufacturing capacity in engineered wood, and significantly expand our portfolio of premium solid wood products," commented President and CEO of Armstrong Flooring Products Americas, Frank Ready. "We are excited about the potential of these additions to our portfolio to accelerate the profitable growth of our hardwood flooring business."
Armstrong Holdings, Inc. is the parent company of Armstrong World Industries, Inc., a global leader in the design and manufacture of floors, ceilings and cabinets. In 2005, Armstrong's net sales totaled more than $3 billion. Based in Lancaster, PA, Armstrong operates 41 plants in 12 countries and has approximately 15,000 employees worldwide. More information about Armstrong is available on the Internet at http://www.armstrong.com.
Related Topics:Armstrong Flooring, HomerWood