RAK Ceramics Reports Higher Income
Dubai, UAE, Feb. 7, 2011 -- Ras Al Khaimah Ceramics, or Rak Ceramics, the world's largest tile producer, said that full-year 2010 net profit rose 3.2%, mainly on reduced cost of sales and lower indirect expenses.
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.
Benchmark Crude Falls Below $90
New York, NY, Feb. 7, 2011 -- Oil prices fell to below $89 a barrel Monday in Asia on mixed signals from the U.S. economy.
Bona Expanding Outlets in Canada, Mexico
Aurora, CO, Feb. 7, 2011 -- Hardwood floor care products firm Bona US said it has expanded in North America with product distribution in major retail outlets throughout Canada and Mexico.
Koydol Contract Moving Into New Facilities
Washington, DC, Feb. 7, 2011 -- Koydol Flooring Contract Group said it will move into new sales and marketing facilities March 1 in Washington.
Investors Selling Desso to Private Equity Firm
Waalwijk, The Netherlands, Feb. 4, 2011 -- Carpet company Desso Group BV said that its owners have decided to sell the company to Dutch private equity firm Bencis Capital Partners.
Unemployment Falls Sharply, Job Growth Slows
Washington, DC, Feb. 4, 2011 -- Although the unemployment rate dropped sharply last month to 9%, company payrolls grew by only 36,000 net jobs in January, according to the Bureau of Labor Statistics.
Home Equity Loans Making a Comeback
New York, NY, Feb. 4, 2011 -- Home equity lines of credit are making a comeback, according to a report by SmartMoney. If true, the trend could help the flooring industry as homeowners finance home improvement projects.
BR-111 Warns About Counterfeit Products
Miami, FL, Feb. 4, 2011 -- BR-111 Exotic Hardwood Flooring is warning customers and dealers about counterfeit products on the market.
Pulte Loss Grows in Fourth Quarter
Bloomfield Hills, MI, Feb. 4, 2011 -- Homebuilder PulteGroup reported a net loss of $165 million, or $0.44 per share for the fourth quarter on revenue of $1.2 billion.
Residential Construction Spending Down
Atlanta, GA, Feb. 4, 2011 -- Residential construction spending declined 4.4% in December, according to Reed Construction Data, due entirely to a sharp decline in remodeling spending.