Armstrong Finalizes Wood Production JV in China

Shanghai, China, March 30, 2006--Armstrong World Industries Inc., signed a contract with a Chinese firm in Shanghai on Wednesday to establish a wood floor production base in East China's Jiangsu Province, according to Xinhua. According to the agreement, Armstrong and a timber firm based in Guangdong Province will jointly invest 70 million U.S. dollars in the 53-hectare production base in the city of Kunshan. The 50-50 joint venture is expected to produce 20 million square meters of wood flooring every year after it starts operations in May. About 60 percent of its output will be exported to the world market.