Existing-Home Sales Off 2.9% in July
Washington, August 24--Existing single-family home sales slipped in July but still managed the third-best pace on record, according to the National Association of Realtors.
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.
Interstate Hotels To Manage 54 Sunstone Hotels
Arlington, VA, August 20-- Interstate Hotels & Resorts (NYSE: IHR), the nation’s largest independent hotel management company, has signed an agreement to manage 54 hotels currently owned by affiliates of Sunstone Hotel Investors.
Forbo Posts 1H Loss; Will Sell Flooring Division
Eglisau, Switzerland, August 20--Forbo Holding AG Friday swung to a first-half net loss due to value adjustment charges and it said it will dispose of its flooring unit, the company's largest division.
Korhani Sells Burlington Rug Shares
Monticello, AR, August 18 -- Yanoor Corp (d/b/a Burlington Rug Corporation) announced today that its founder and CEO, Saeid Korhani, has sold all of his stock in Yanoor Corp to Prudential Capital Partners, L.P., an investor in Yanoor Corp since 2002.
Two Industry Vets Buy Montana Dealership
Billings, MT, August 18--Two longtime professionals in the carpet business have purchased NorthWest Floors at Marketplace West in Billings and plan on offering down-home service, according to the Billings, Montana Gazette.
Housing Market Index Up in August
Washington, August 16--Declining mortgage interest rates helped boost builders’ confidence in the market for new single-family homes this month, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.
Faus Responds to Pergo Suit
Dalton, GA, August 16-- Pergo, Inc. filed a lawsuit against Faus and its parent company earlier this month in the United States District Court of the Eastern District of North Carolina.
Siemerling Out, Biggers New Witex USA CEO
Kennesaw, GA, August 13--Witex USA announced that Hartwig Siemerling has left the company. Board member and lead director, Herb Biggers, will assume the CEO duties.
DuPont Contests EPA's C-8 Finding
Wilmington, DE, August 12--The DuPont Co. on Wednesday sought a hearing to challenge federal allegations that the company failed to report health and environmental threats from a chemical used to make Teflon and other common consumer products.
Carpet One Announces Annual Award Winners
Manchester, NH, August 10--Carpet One announced the top-selling dealers and industry leaders who were recently recognized at the 2004 Carpet One International Summer Convention held in Dallas, Texas.