Välinge Increases Floating Floor R&D Budget

Viken, Sweden, July 10, 2009--Välinge has decided to increase its annual R&D budget to $20 million from about $15 million due to new license contracts and success in new technology.

Välinge opened a new $45 million, 17,000 square meter R&D center in May 2009 and said it has signed several license contracts and cooperation agreements related to new flooring technology.

Välinge said it is spending more on R&D related to floating flooring technology than any other flooring company.

"We hope that our extensive investments in R&D will be sufficient to maintain a world leading position." says Darko Pervan, Välinge CEO.