Freudenberg May Sell Flooring Unit

Weinheim, Germany, November 15, 2006--According to reports, Freudenberg, the family-owned German conglomerate, is examining whether to sell its building systems division. The unit manufactures nora rubber floorcoverings for commercial applications such as airports and hospitals. The unit employs approximately 1,000. Companies interested in acquiring the operations are said to be German floor coverings group Tarkett, UK-based company Bonar Floor and Swiss group Forbo. The division, which registered turnover of around 150m euros last year, is estimated to register profits of between 5m euros and 7m euros. Freudenberg's works council, which claims that it has not been informed of a search for a buyer, has asked management to clarify the issue.

Related Topics:Coverings, Tarkett, Lumber Liquidators

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