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.

Judge Throws Out Breakup Fee In Burlington Deal

GREENSBORO, NC, Aug. 1--A bankruptcy judge on Thursday threw out a $6.08 million breakup fee that was part of the bid by investment firm W.L. Ross Inc. LLC to buy bankrupt Burlington Industries, forcing a renegotiation.

Armstrong Announces Leadership Change

Lancaster, PA, July 31--Armstrong World Industries, Inc. announced that Chan W. Galbato, President and CEO, Armstrong Floor Products, will leave the company to pursue other opportunities.

Dixie Group's Income Down

Chattanooga, TN, July 30--The Dixie Group, Inc., today reported net income of $1.4 million, or $0.12 per diluted share, for the second quarter ended June 28, compared with net income of $3.0 million, or $0.25 per diluted share, for the prior-year period.

Burlington Goes To WL Ross, Mohawk To Get Lees

Greensboro, NC, July 28--Burlington Industries, Inc. today announced that the purchase price in its July 25th acquisition agreement with W.L. Ross & Co. LLC had been increased from $608 million to $620.08 million, both subject to various adjustments. The

Ross' Bid For Burlington Is Best

Greensboro, NC, July 28--Burlington Industries Inc. said investment firm WL Ross & Co.'s $608 million offer for the company is the best and highest bid.

Domco Tarkett Earnings Down

Farnham, Quebec, July 24--Domco Tarkett Inc. announces its results for the second quarter ended June 28, 2003. It should be noted that the financial statements have been presented in U.S. dollars since January 1, 2003.

Interface Sales Flat

Atlanta, GA, July 23--Interface, Inc. announced results for the second quarter ended June 29, 2003.

Sherwin-Williams' Earnings Up

Cleveland, OH, July 22--Sherwin-Williams Co., the No. 1 U.S. paint maker, on Tuesday said second-quarter net earnings rose only 2.4 percent as wet spring weather in certain regions dampened sales.

Burlington: No Assurance Lees Will Be Sold To Ross

Greensboro, NC, July 21--Burlington Industries Inc. said in a statement issued Monday afternoon that it has received several proposals in connection with the sale process approved in bankruptcy court last May, but has not accepted any of them at this time

Mohawk Announces Proposal To Acquire Lees

Calhoun, GA, July 21--Mohawk Industries, Inc. announced it has entered an agreement with W. L. Ross & Company to acquire the assets and assume certain liabilities of the carpet division of Burlington Industries, Inc. (Lees Carpet).