Analyst Upgrades Armstrong on Flooring Strength

New York, NY, July 12, 2010--An analyst upgraded shares of Armstrong World Industries Inc. Friday, saying the company's flooring businesses are undervalued.

Meanwhile, the Armstrong announced Friday that the 107-year-old Beaver County, Pennsylvania ceiling tile plant will close in phases over the next year.

CL King analyst Jim Barrett said the company's resilient and wood flooring businesses are market leaders with strong earnings prospects.

"Based on Armstrong's present enterprise value of $1.7 billion, we believe investors are paying just for the recession-resistant ceiling business and receiving the other businesses for free," Barrett said.