Midwest Factory Activity Cools
Chicago, June 30--The Purchasing Management Association of Chicago index of area business activity fell to 56.4 in June on a seasonally adjusted basis from 68.0 in May.
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.
Saudi Group to Invest in Carpet Backing Facility i
Jeddah, Saudi Arabia, June 30—The Mattex International Group, which is based in Jeddah, has announced a lease agreement with Dubai Techno Park for the occupation of 1,000,000 sq ft of land with a total investment of Dh4 00 million.
Fed Ups Funds Rate to 1.25%
Washington, DC, June 30--The Federal Reserve raised its key short-term interest rate for the first time in four years today, kicking off what it said is likely to be a "measured" campaign to return the rate to a level appropriate for a healthy economy.
Invista to Headquarter Two Units in Delaware
Wilmington, DL, June 30--Invista, the former DuPont Co. textiles and interiors business, said Tuesday night it will keep the headquarters for some of its operations in Delaware, saving 350 jobs, according to the News Journal.
Jaeckle to Distribute Nafco by Tarkett Line
Houston, TX, June 30—Nafco by Tarkett announced today that Jaeckle Wholesale, Inc., of Madison, Wis., has joined the Tarkett distribution family.
Strong Consumer Indicators Don’t Match Wal-Mart’s
New York, June 30--Consumer confidence may be surging, but tell it to companies like Wal-Mart, Target and General Motors.
Weyerhaeuser to Sell 304,000 Acres of Timberland
Federal Way, WA, June 30-- Weyerhaeuser will sell approximately 304,000 acres of timberlands in Georgia to four companies, officials announced today.
Kinder, Gentler Big-Box Stores Open in Suburbia
Gurnee, IL, June 29--A shopper-friendly crop of big-box stores is sprouting up in U.S. suburbs, featuring wider aisles and colorful signs, in contrast to the "stack-'em-high, sell-'em-cheap" model perfected by Wal-Mart.
Crook Named Sr. Market Mgr., Carpet Dow Emulsion P
Midland, MI, June 29--Dow Emulsion Polymers, a worldwide leader in latex-based carpet backing technology, has named Todd Crook to the role of senior marketing manager for its North American Carpet business.
Villeroy & Boch to Sell Three Plants
Mettlach, Germany, June 29-- Villeroy & Boch, the German ceramics group, is reported to be planning to sell three tile production sites, in Hungary, Italy and Romania, to Austrian group Lasselsberger.